Pricing Your Metro DC Home to Sell!

If you are planning to sell a home in the DC Metropolitan area, you are likely to have two primary objectives: to obtain the best offer for your home, and to sell it quickly! And while home demand is strong in Bethesda, Chevy Chase and Silver Spring, you still need a sound price strategy and intelligent marketing to accomplish these goals.

As your Certified Home Luxury Marketing Specialist, I understand how tempting it is to price your home high and “see what happens.”  This will backfire! Over-pricing a home discourages serious buyers and causes your home to linger on the market. The longer the “days on market”, the less interest buyers have in the home. Sellers eventually discount the price to draw buyers, after losing valuable time and risking changing market conditions.

If you manage to attract a buyer despite an inflated home price, most buyers still need mortgages, and their lenders will require a bank appraisal. If your home price cannot be justified with the appraisal, the deal falls through. No sale, no gain!

The successful sale of your home begins with one crucial step: Price it right the first time.

How do you price your home correctly? Start with a Comparative Market Analysis. This is a professional opinion of value, based upon recent home sale prices for similar properties in your neighborhood. It’s an essential starting point for price determination.

If your home has unique features, a spectacular view, or proximity to good schools, these elements can add strength to your pricing. Location plays a big role in buyer demand. Ease of access to parks, shopping, entertainment, and major highways are a plus.

No two homes are exactly alike, and there are always changing conditions in the real estate market. This is why tax assessments and home value websites should not be used for pricing purposes.

Pricing your DC Metro home correctly will draw the most buyer attention and give you stronger footing for negotiation. When an attractive home in a desirable location is priced competitively, it can draw multiple offers!  As your Certified Home Luxury Marketing Specialist, I have the experience to guide you through pricing trends in DC Metro area real estate.

Contact me for the latest home sale statistics, market trends, and the professional guidance you can trust. My team and I deliver the reliable information and quality service you deserve – along with expert marketing for top results.

Melinda Estridge
The Estridge Group-Long & Foster Real Estate, Inc.
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