The market typically will determine the value of your property.
Before comparing your property to similar properties on the market, you should consider items such as: location, size, style, condition, local amenities, buyer supply, and financing options. Getting to know your market is important.
A comparative market analysis is helpful in detailing what buyers are willing to pay for a home.
Overpricing Your Home: sometimes sellers price their property high at first, thinking they can always lower it later. If a home is priced too high, this can lead to little activity. This leads to long selling times and then sometimes the property price has to drop below the market value because the seller runs out of time, having the property sell for less than it’s worth.
Price Right. Pricing your property right means a faster sell because it reaches more qualified buyers. Your home also does not lose marketability and the closer to market value, the higher the offers. A well-priced property may also generate competing offers.