Sellers: Are You Ready?
by: Jeff Quintin, on January 4, 2021 - Sellers in Jersey
Warning: Don’t list your home now unless you want to sell for over list price.
You do NOT want to put your home on the market right now—unless you’re looking to get multiple offers and sell it for above list price.
If you’re thinking about putting your home on the market, you need to be ready for bidding wars. Inventory in our area is so low that we’re getting multiple offers on almost every listing that’s priced within reason. Believe me, there are strategies for pricing a home in order to drive traffic to your property. On average, we’re selling homes for between 5% and 15% above the listing price.
Last year, we had a client whose home was valued at $499,000. They wanted $600,000 for it, but I told them that was too much to hope for. We listed it for $599,000, and in just three days, we had four offers on it. We ended up selling it for $655,000, meaning they got 10% more than their list price and $155,000 above market value at the time.
If you’d like to know what you could sell your home for in this market, reach out to me I’d love to help you.