RISING MARKET – SELLER’S MARKET

Sellers and REALTORS® have had it easy pricing property over the last 6 years. Look up comparable properties that have recently sold and add $10,000-$20,000.

In the example below let’s suppose the comparable property for your home just closed escrow at $790,000. It was a 30 day escrow so today’s current market value of your home should be $800,000 because prices have been rising at $10,000 per month.

Pricing in a Rising Market

So if you price your home at $840,000 then it should sell within 5-6 months. On the 5th month it should be at current market value and on the 6th month under current market value. The beauty of this market is that you can err a bit on the high side and everyone is happy.