How To Base Your Asking Price On Recent Home Sales
When you are finally ready to move to a new house, you will have to first list your home for sale and find a buyer for it. As you do this, you may face some challenges along the way, and one of the challenges you could face is determining how much to ask for your house. If you want to make sure your house sells quickly, you will need to ask a price that is in line with the home's true value, and you can find out how much your house is currently worth by looking at recent real estate sales in your area.
How to find recent home sales
To begin this process, you will need to find recent home sales, and there are several ways to do this. The first way is by looking at the MLS or any other database of homes for sale. These types of databases will list homes for sale and will also tell you what homes recently sold. Secondly, you could talk to a real estate agent in your city to find out if he or she could give you a list of homes that recently sold.
How to use recent home sales to find the value of your house
Once you have recent home sale information, you can use the home sales as a way to find the value of your home by comparing them. If the homes that sold are very similar to yours, divide the home prices by the square feet to find a price per square foot. You can then multiply this price by the number of square feet you have in your house. This may help you get an idea about the current value of your home.
You may also need to compare the different features in these homes to the features your home offers. For example, if all the homes have three bedrooms but yours has four, you may need to add a little bit of money to the sale price of the other homes to compensate for this extra feature your home offers.
Why this method works
Finding out the value of your home by comparing it to recent home sales is a great idea because it reflects your area and the current real estate market. If you can use this information correctly, you may be able to choose the best listing price for your house, and this could help the house sell faster. Your real estate agent can help you with this task if you need assistance.
