• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

New York City Realtor KAREN KOSTIW

  • Login / Register
  • (917) 524-4152
  • NY Fair Housing Notice
  • Email
  • Instagram
  • LinkedIn
  • Pinterest
  • Home
  • About
    • Karen’s Profile
    • Karen’s Testimonials
    • In the News
  • Search
    • Search All Properties
    • Search by Map
    • Featured Listings
    • Sold & Rented Properties
    • New Listing Notifications
    • Login / Register
  • Neighborhoods
  • Buyers
    • For Buyers
    • Market Reports
    • Mortgage Calculator
    • Buying Guidance
    • New Development Guidance
    • Rental Guidance
  • Sellers
    • For Sellers
    • What’s My Home Worth
    • Market Reports
    • Selling Guidance
    • Rental Guidance
  • Commentary
    • Karen’s Blog Articles
    • Culturally Inclined
    • In the News
    • Market Reports
    • Luxury Market Insights
    • CB Trend Report
    • My Videos
  • Contact

Asking Price Matters More Now Than Ever

August 15, 2022

 

Selling Your House? Your Asking Price Matters More Now Than Ever | MyKCM

Undoubtedly, the housing market is slowing from the frenzy we witnessed over the past two years. But what does that mean for you if you’re considering selling your house?

While home prices are still appreciating in most markets, and experts say that will continue, they’re climbing slower because rising mortgage rates create less buyer demand. Because of this, there are more homes on the market. And in a shift like this, how you price your home matters more than ever.

Why Today’s Housing Market Is Different

During the pandemic, sellers could price their homes higher because demand was so high and supply was so low. Things are shifting this year, so your approach to pricing your house needs to shift too.

Because we’re seeing less buyer demand, sellers must recognize that this is a different market than during the pandemic. Here’s what’s at stake if you don’t.

Why Pricing Your House at Market Value Matters

The price you set for your house sends a message to potential buyers. If you price it too high, you risk deterring buyers.

When that happens, you may have to lower the price to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder what that means about the home or if it’s still overpriced. Some sellers aren’t adjusting their expectations to today’s market, and realtor.com explains the impact that’s having:

“. . . the share of listings with a price cut was nearly double its year ago level even as it remains well below pre-pandemic levels.”

You’ll want to price it right from the onset to avoid the headache of having to lower your price. A real estate advisor knows how to determine that perfect asking price. To find the right price, they balance the value of homes in your neighborhood, current market trends and buyer demand, the condition of your house, and more.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more buyers interested in purchasing it. This helps lead to stronger offers and a greater likelihood of selling quickly.

Why You Still Have an Opportunity When You Sell Today

Rest assured, it’s still a sellers’ market, and you’ll still get great benefits if you plan accordingly and work with an agent to set your price at the current market value. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

Mike Simonsen, the Founder, and CEO of Altos Research, also notes:

“We can see that demand is still there for the homes that are priced properly.”

Key Takeaway

Homes priced right are selling quickly in today’s real estate market. Let’s connect to make sure you price your house based on current market conditions so you can maximize your sales potential and minimize your hassle in a shifting market.

Filed Under: Karen's Blog Articles

Primary Sidebar

New Listing EmailNotifications

Sign Up

What's YourHome Worth

Details

Categories

  • Culturally Inclined
  • In the News
  • Karen's Blog Articles
  • Real Estate News
  • Uncategorized

ClientTestimonials

"“Karen did a great job helping me to find my first home. As a first-time homebuyer, she helped to guide my research and efforts, helping to alleviate as much stress from the home-buying process as... continued"
- Sabrina
View All
  • Email
  • Instagram
  • LinkedIn
  • Pinterest

Footer


logo

124 Hudson Street
New York NY, 10013


Karen Kostiw
(917) 524-4152 Cell
(212) 327-9622 Office
(646) 422-4083 Fax

Contact Karen

Join MyNewsletter

Sign up and stay informed about what is going on with the local market.

Standard Operating Procedures   •   sitemap   •   admin   •   ©2025 All Rights Reserved  •  Real Estate Website Design by IDXCentral.com  •  Terms of Use