We all saw the buying frenzy in the Greenville housing market in the past two years, and as we move past that phase and see the real estate market finally cooling down, what does that mean for you if you’re thinking of selling your Greenville house now?
While home prices continue to rise in Greenville and in most real estate markets, they are rising at a slower pace as rising mortgage rates make home-buying tougher for home buyers priced out of the market. As a result, more homes are available on the market. In a situation like this, pricing your house is more important than ever.
Why selling your Greenville house in today’s market different
During the pandemic, demand was too high and there is not enough inventory of homes to meet buyers’ demand. Things are changing this year, with economic uncertainty and mortgage rates rising, your approach to pricing your house needs to change too.
This is completely a different market and if your approach to pricing your Greenville home for sale didn’t match the current market condition, your home for sale will be at a disadvantage.
Pricing your Greenville house at market value matters
In today’s Greenville real estate market, setting the right price for your house is one of the most valuable things you can do. Your goal is to drive potential buyers your way. If you price your Greenville home on the high end, it will more likely deter buyers and have them looking at the houses your neighbors are selling instead.
Your house is more likely to sit on the market longer or require a price drop. To avoid the hassle of having to lower your price, pricing your house right from the very beginning is the best thing to do.
When you price your Greenville home competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price. The key is to make sure your house is priced to sell. That way, your house will be seen by most buyers. The more potential buyers your Greenville home for sale attract, your house will be more likely to sell at a competitive price.
Greenville real estate market is still a seller’s market
Rest assured, if you are thinking of selling your Greenville home, it is still a seller’s market. In the latest real estate market report, the average days on the market for homes listed in July 2022 was 19 days. That’s a 9.5% drop from the same time last year.
If you plan accordingly and work with your Greenville realtor to set prices at the current market value, you can still reap great benefits.
If you’re thinking about listing your house this summer, contact your #Greenvillerealtor to help you price it right so you can maximize your exposure and your return.