In a perfect world, you would sell your home for the most amount of money in the least amount of time. That doesn't happen often—and pricing your home too high could cost you money in the long run. In almost any market, the homes that sell the fastest and for the most money are those that are priced closest to what a reasonable buyer would expect to pay at that time. That is why you absolutely must know your competition and understand how key factors play into your pricing decision.
Comparable sales prices
The most reliable indicators of current market value are pending sales of properties similar to yours and comparable sales that have closed within the past six months. Find out whether or not these were full-price sales. If houses are selling for 95 percent of their list price, it's unwise to price your property more than 5 percent above what you expect to get.
Market conditions
Find out how long recently sold comparable properties were on the market before they sold. The longer properties are on the market in your area, the more vital it is to price your home close to market value if you want to sell quickly.
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