Market Dictates Price

Market Dictates Price

No matter what you list your home for, your home is going to sell for what the market is willing to pay for it.

What does that mean?

If buyers perceive your home to be priced high, they won't look at it. You may have to decrease your listing price until you are at a price that attracts and converts buyers - what the market is willing to pay.

If you are priced low, you will have an influx of buyers who are going to offer over asking - what the market is willing to pay.

The goal is to list at the "sweet spot". A number you and your agent agree on, pulled from direct comps, "the data", but doesn't seem high to buyers. This will attract the most qualified buyers and sell for what the market is willing to pay, sometimes higher than what would be interpreted as a high price.