How Much Should You Sell Your House For? Pricing it Right in 2024
If you’re thinking about selling, you may be wondering, “How much should I sell my house for in 2024?” Determining the right price to list your house is a pivotal decision in the selling process. It’s a balancing act that requires a keen understanding of the market, the unique qualities of your property, and the psychology of potential buyers.
Price it too high, and you run the risk of it sitting on the market for too long. Set it too low, and you might sell quickly, but at the cost of losing out on potential profits.
We’ll discuss the factors that influence your home’s market value and offer insights on how to pinpoint that sweet spot for pricing. Whether you’re a seasoned homeowner or a first-time seller, understanding how to accurately price your home is key to a successful sale. To help you out, we spoke with the experts and reviewed the data for you to price your way to success in 2024.
Start with an automated home value estimate
Figuring out how much to sell your home for can be overwhelming without knowing where to begin. An Automated Valuation Model (AVM) can be a powerful starting tool to help you estimate a price.
AVMs utilize proprietary algorithms and a huge pool of data to provide a value estimate on your home. Estimates are based on details such as location, property size, and local market details. This approximate home value allows you to be better educated when it comes to putting your home on the market.
It’s important to note that some AVMs miss crucial data points that provide inaccurate or way out-of-scope home values. HomeLight’s Home Value Estimator asks the right questions about your home’s condition to give a more accurate number. Our tool uses property information provided by the user (that’s you) and compares it to the local housing market. It acts as a great starting place when it comes to setting your home’s sales price.
Work with a top agent to develop a winning strategy
AVMs can give you a ballpark idea of your home’s value, but for an accurate price to maximize your sale, consider working with a top real estate agent.
An expert agent like Marcile Sims, who sells properties 66% faster than the typical agent in Mobile, Alabama, can help you understand the value of your home as well as the market you’re selling into.
“The buyers in the market have become much pickier than in previous years,” she says. “They don’t want a lived-in house anymore; they want a house that looks like it came off Pinterest. This can be a difficult market to sell into, with little to no gray space. Your home is either in top condition to receive top dollar, or it’s the exact opposite.”
Agents bring the advantage of having the experience, trend knowledge, and ability to optimize pricing to attract buyers who are house hunting, no matter how exact their specifications.
A tactical agent becomes even more essential when there’s a decline in home sale activity and higher interest rates. This unique combination of factors present in the 2024 market means the right levers need to be pulled by a top agent, including some of those listed below.
