Northport NY Real Estate – Determining the right price

Selling your home this year?  How will you establish the right price?

There are many online sites that will give you estimates on current prices. These sites are great and can provide some idea of what may be going on in your area, but the best way to determine pricing is to consult with a top realtor. Property pricing is tricky as different neighborhoods sometimes hold their own intrinsic values, however, the standards that we currently live by hold true in almost any market place.

The general rule of thumb has been to review like properties that have sold within the past three to six months that offer the same style, square footage, bedrooms and baths, garages, etc. The other factors that will be considered are condition (overall appearance and updates, baths, kitchens, heating, roof, windows, etc.) which will also factor in to the final price decision. 

Make sure that you leave out emotion when choosing a price, be as honest as you can when reviewing recent property sales with your real estate professional. It may help to visit your competition and see what your competitors are offering but remember, if they are not sold, they are just competition-–we must look at sold properties to determine pricing. I also review properties that have recently gone under contract as I feel that this is the best indication of what the buyers are currently willing to pay!

Remember that with an ever changing market, it is important to review pricing every 30-60 days to reevaluate the market place. It has been said that the best priced, best condition properties will sell. Pricing competitively (best priced, best condition property within your neighborhood) will ultimately bring more buyers and more buyers looking could result in more offers!

Catherine Lindstadt, Realtor Contact me at 631-266-6113 or clindstadt@elliman.com for more information!