Pricing Your Home: 5 Criterias to Consider

Dated: 01/20/2020

Views: 50

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.

  3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.

  5. Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.

Blog author image

Kenneth Manesse

Helping you experience something new in Las Vegas that's guaranteed. Real Estate with less stress!....

Latest Blog Posts

Have questions about Nest? Or Smart Home Tech?

Wondering whether it’s the dog or the cat who keeps getting into the trash while you’re away? The Nest Security Cam can answer that question for you thanks to its live 1080p HD video

Read More

Skye Canyon 2019 Top 50 Master-Planned

Northwest Las Vegas Skye Canyon has proudly partnered with some of the nation’s finest homebuilders including Lennar, Century Communities, Pardee Homes, Pulte Homes, Richmond American Homes,

Read More

Las Vegas Real Estate with Golf Views!

If your house no longer fits your needs and you are planning on buying a luxury home "with a Golf view" now is a great time to do so! Recently, the Institute for Luxury Home Marketing released

Read More

Pets need an evacuation plan also!

An evacuation plan is a necessity for every home, especially if you live in an area where fires, earthquakes, hurricanes, flooding, and other disasters are a possibility. Many homeowners create

Read More