The Importance Of Pricing Your Home Right From The Start

While the St Louis real estate market is recovering from the aftermath of the housing bubble hurst,  the market is still very price sensitive and therefore  I cannot over emphasize the importance of pricing your home right from the outset at the beginning of the listing.

However, many sellers fear this strategy as they think no matter what price they list at the buyer will still offer less than the asking price.  I will address this issue by saying that is simply not true.  Buyers today, in my humble opinion, are more educated and savvy than homes buyers were during the boom (not to mention cautious) and are looking for a home that meets their needs and will be a good investment.  Home buyers today realize that the good ones are selling quickly, so when a home comes on the market, is properly prepared for the market and priced correctly,  it often sells quickly at full price or above and if not, then very close to full price.    The over priced homes sit on the market, become market worn and stale by the time the seller finally gets the price down to where it should have been to start.

Oh, you don’t believe me and want proof?  No problem!  Below are statistics from MARIS, the St Louis REALTOR® MLS showing homes that sold within the first week of being listed in St Louis and St Charles County in the past 30 days sold for, on average, 100% of the list price!

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St Louis Home Prices - Sold Homes - Sold Within First Week

Data Source: MARIS

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