When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.
- Location:Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
- Date of sale:It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.
- Home build:Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
- Features and upgrades:Remodeled bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles.
- Sale types: Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.
*About Windermere Homes & Estates*
Windermere Homes & Estates has always focused on three basic principles: hire the best people, give them the best tools, create thriving communities. Collaboration not competition and building relationships with agents, clients and community partners has helped Windermere Homes & Estates become one of the top 5 brokerages in California. Backed by Windermere Real Estate, the largest regional real estate company in the Western U.S., including over 300 offices and 6,500 agents serving communities in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Mexico. Last year, Windermere closed 87,000 home sales for more than $36.7 billion in dollar volume.
Windermere Homes & Estates donates a portion of the proceeds from every home purchased or sold to the Windermere Foundation, which supports low-income and homeless families in the community. What started in 1989 as a grassroots foundation serving families in need in Washington state has grown to encompass eleven states and has raised over $38 million for programs and organizations that provide shelter, clothing, children’s programs, emergency assistance and other services to those who need our help the most.
Windermere Homes & Estates was founded by Rich Johnson in 2013 and has been setting the standard ever since. The forward-thinking company has opened 17 offices and hired more than 500 agents with awards such as the Brokerage Achievement of Excellence and the Standards of Ethics, awarded by the San Diego Association of Realtors® (SDAR). Creating a “3rd place” for agents to collaborate and connect on a daily basis both virtually and in person has been a key factor in Windermere Homes & Estates’ success.