Figuring out what your home would sell for on the market involves working with an agent beforehand and knowing a few other factors that I’ll discuss with you today.
If you’re a homeowner and you’re considering selling your home, how do you determine its value? In this situation, we recommend having a real estate agent come to your home a few months before you put it on the market so they can give you a comparative market analysis. Essentially, that agent is going to look at what nearby homes have sold for over the course of the last 12 months. An agent that comes prepared will be able to show you all the previous sales of like properties in the subdivision over that time period.
Of course we take into account the overall sales price, but more importantly, we also take into account what the price per square foot is of the homes that have already sold. If you take the average sold price per square foot of above-grade square feet and multiply it by your property’s above-grade square feet, that will give you a solid estimate of what your home would sell for.
There are also other factors that come into play when pricing a home. One of which is timing. Typically in the first and second quarter of the market, you can expect your home to sell for 2% to 8% more money than if you were to list it in the third or fourth quarter.
Really, though, it all comes down to supply and demand, and a talented agent will be able to make good recommendations in terms of when you should put your house on the market to get maximum profit out of your sale.
If you have any questions about determining the value of your home or are thinking of buying or selling in the Omaha market, please don’t hesitate to reach out to me. I’d be happy to help!