Home prices are rising rapidly as you’ve probably seen. That doesn’t mean your home will sell for double what it would a year ago. Setting a price in line with recently sold homes in your neighborhood of roughly the same size and condition is your best strategy.
If a buyer looks online at all the homes for sale and yours is priced 20% higher, you won’t even get a look-see. Now matter how beautiful your kitchen remodel is.
However if the same buyer looks at all the homes that are similarly priced and likes yours the best – chances are they’ll offer more than the asking price. Better yet if you get two or three buyers offering more than the asking price.
Don’t worry about pricing your home too low. If it’s priced way below market, you’ll get a lot of people looking at it who will drive up the price.
On the other hand, if nothing has been painted or repaired in 20 years, expect offers at lower than market price.