Home Pricing Strategy - Vancouver Island Real Estate

Dated: May 18 2020

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  1. When you are ready to sell your home, one of the best ways to determine the asking price is to create a comparative market report. A comparative market report shows home sales similar to your home. Rarely are there perfect comparisons, so pricing is based on the following criteria:

    Location - Homes in the same area tend to follow similar trends. This is a good place to start by comparing home sales on the same street or area. 

    Date - When did it sell? Was it within the last 30 to 90 days, 6 months? The housing market can see fluctuations in a short period of time so it's best to use the most recent sales. 

    Home style - We are not talking about staging, we are more focused on the number of bedrooms, bathrooms, square footage, and other basics. eg. garage, size of property & square footage.

    Updates  - Let's talk about your updates and upgrades! Some of these updates can be functional versus cosmetic. eg. new roof, heating system, electrical versus cosmetic - remodeled bathrooms or kitchens! 

    Current Market Condition - It's always important to reflect on the current market, what is going on in the economy, the average days on market.

    What is your motivation? Do you want the home to sell within 30 days or do you want to test the market? If you want to sell your home quicker then a sharper list price is a big consideration.

    If you would be interested in a complimentary comparative market analysis, send me an email or give me a call - 250-667-2031 or laura@laurahealey.ca

    Check out my next blog post on Preparing Your Home for Sale - Tips for Photography Success 

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Laura Healey

Hello! My name is LAURA HEALEY, and I am a realtor living and working in the beautiful ‘Hub City’ of Nanaimo, on Vancouver Island. Thanks for visiting my site! I absolutely love life in my immed....

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