There has been a lot of discussion about the great appreciation and quick home sales we’ve been experiencing in our market lately.
There has been a lot of discussion about the great appreciation and quick home sales we’ve been experiencing in our market lately. No one knows for sure how long this will last, but we do know that markets always shift. It has happened in the past and it will happen again.
I’ve got some strategies to share today that are quite useful in a shifting market. Pricing your home is one of the most important aspects of your sale. Here are some strategies that we share with our sellers on how to price appropriately in a shifting market.
In an appreciating market, you usually see low inventory and high demand. This is what drives prices up. Sellers have the luxury of pricing ahead in this type of market. As long as the market continues in an upward trend, they will get their price.
Things are different in a depreciating market. When supply goes up and demand drops, home prices come back down. If you try to price ahead in a depreciating market, you may find yourself chasing that market down and you may never get your price.
We like to consult our clients about what’s happening in the market right now and we are in a funny place today. We have seen a lot of sellers get away with pricing ahead, but that is a recipe for disaster if we start to shift to a depreciating market.
If you have any questions about how to price your home appropriately in a shifting market, give us a call or send us an email. We look forward to hearing from you!