Price It Right: List vs. Sold Price in Today’s Market
At Havasu Life Properties, we are all about the data and assisting our clients in making educated decisions to achieve their real estate goals.
Every week, we analyze what’s happening in our Havasu market to provide you with data that is personalized and relevant.
This week, we examined data from the past 257 closed sales over the last three months to highlight the importance of pricing your home correctly from the start.
The data shows that homes priced correctly sell within 30 days and achieve 97.98% of their list price.
In contrast, homes priced too high sit on the market for over 120 days and sell for only 87.44% of their original list price.
Quick Pricing Scenario:
Imagine you are willing to sell your home for $580,000. Knowing you need some room for negotiation, you list it at $600,000, which is a fair price for current market conditions.
Scenario 1: Priced Correctly at $600,000:
Based on the data above, the home sells for $587,880 within 30 days.
Now, imagine you decide to aim higher and list it at $650,000, hoping to get more.
Scenario 2: Overpriced at $650,000:
Sits on the market for 120+ days.
Eventually sells for $568,360.
Takeaway: In this scenario, pricing your home right from the start would get you $19,520 more and sell it much faster.
Contact us today for a personalized pricing strategy!
