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How to Price Your Home Right In a Competitive Market

How to Price Your Home Right In a Competitive Market

  • Scott Einfeldt
  • 09/6/22

You may have heard more than once that location is the most important factor while selling a house. While this statement has a lot of truth, buyers consider price first. It doesn't matter how perfectly a house fits a buyer's needs; they won’t make an offer if the price is too high. We at Scott Fine Homes have compiled a guide on how to get competitive pricing for your Atlanta home for sale.

Don’t overprice

Many Atlanta sellers think it’s best to set the price higher than they’re willing to settle for, reasoning that they can always settle for a lower price if the higher figure doesn't attract buyers. However, this is a mistake. You need to resist the temptation to set a higher price for your Atlanta home.

Most showings take place during the first month the house is on the market. After this, showings drop, making it harder to sell the house. Overpricing with the intention of dropping the price later usually doesn’t end well. Sellers often don’t realize the price is too high until it’s too late. In today’s market, after the house has been on the market for too long, buyers start to think something must be wrong with it. If you’re unsure how to set the best price, contact Scott Fine Homes today.

Price for online searches

Getting a competitive price for your Atlanta home for sale means considering online searches. Most home searches are conducted almost entirely online. When buyers search for a home online, they set the search parameters for a specific range; for instance, $549,000 to $599,000. So, if you price your home at $600,000, you'll miss out on a significant percentage of buyers because the house is out of their range and won't appear in their searches.

No creative pricing

Getting competitive pricing for your home means not using any "creative" pricing. Sometimes, you may want to set a unique price. If your home has been valued between $850,000 and $900,000, you may want to ask for $877,777. Such a specific figure may put buyers off—they’ll wonder why you chose this figure. Your objective should be to showcase the home and not call attention to the price or yourself.

Perform a comparative market analysis

One of the most important things if you want to get a competitive price for your Atlanta home is to have Scott Fine Homes perform a comparative market analysis. This will allow you to know what similar homes in the neighborhood have sold for in the past. You can determine the fair market value and then set the price accordingly.

Take a close look at similar homes in the neighborhood currently for sale. Looking at these active listings will let you know what other sellers are up to, and you'll know how to set a competitive price for your Atlanta home for sale.

Timing is important

While you may have heard that the best season to sell a house is spring, research has shown that summer is the best time to get competitive pricing for your Atlanta home. June through August is the best time to list your house since these three months have the highest average price. Summer prices are over 6% above the median price. In particular, June is the most profitable month, with homes selling at approximately 11% over the median. This means you may be able to get an extra $40,000 if you decide to sell your house during the summer.

Beltline proximity is a huge advantage

The Beltline has a lot of historical significance in Atlanta. If you stay close to the Beltline, you can get a higher price if you decide to sell your house. An analysis of home price trends near the Atlanta Beltline from 2011 to 2015 found that the market value of houses increased at a higher rate than in other Atlanta regions.

If you’re looking for competitive pricing for your Atlanta home for sale, you should consider including information about the proximity of your house to the Beltline to attract more buyers.

Proximity to corporate centers

If there’s something Atlanta residents dislike more than Pepsi and humidity, it's traffic. If the house is close to Sandy Springs, Downtown, or other corporate centers, you can get a competitive price for your Atlanta home for sale.

First-time homebuyers in Atlanta may be convinced to buy a house far from their place of employment if it’s cheaper. Still, you can highlight how traffic can be a nightmare in Atlanta and the convenience of your home’s location in your listing to attract more buyers.

Good public schools are a priority

Education plays a huge role when house hunters decide where to settle in Atlanta. If you live close to an excellent public school, you may want to publicize this information on your house listing.

Atlanta has over 200 public schools, with 40 ranked on U.S. News and World Report's Best High School Rankings. Cobb, Gwinnett, DeKalb, and Fulton Counties have many good school districts, which may get you a competitive price for your home if you stay within their limits.

A good real estate agent in Atlanta makes all the difference

Trying to sell your home without a real estate agent can complicate matters. In a market where 90% of real estate transactions happen with a real estate agent, trying to sell your house without an agent may not be a good idea. With a good agent like the team members at Scott Fine Homes, you can be sure you’ll get a competitive price for your Atlanta home for sale.

Multiple offers aren’t uncommon, even in a seller's market like the Atlanta real estate market. There will likely be several buyers interested in your property.

If you’re looking for competitive pricing for your Atlanta home for sale, Scott Fine Homes has the team, knowledge, and experience to serve your needs. Whether selling your first home or your multi-million dollar luxury estate, Scott Fine Homes will develop and implement a multi-faceted and customer-tailored approach to generating quality leads among real estate agents and prospective buyers. If you need to sell your house or are simply curious about the valuation of your home, contact us today.

Work With Us

Scott Fine Homes Group at Compass has built our success on a reputation providing white glove service to every client at every price point.