The Ultimate Guide To Pricing Your Philadelphia Home For Sale

If you are thinking of selling your home in Philadelphia, one of the most important decisions you have to make is how to price it. Pricing your home correctly can make the difference between a quick sale and a long wait. Here are some tips to help you price your home for sale in Philadelphia.

 1. Know the market. 

The Philadelphia metro area is one of the hottest housing markets in the country, with home prices up 5.6% year over year in June 2023, according to a new report. However, the market is not uniform across the city and its suburbs. Some neighborhoods are seeing more demand and growth than others, so you need to research the local market conditions and trends in your area. You can use online tools like Zillow to find out the average home value, price per square foot, and days on the market for your neighborhood and compare it to similar areas.

 2. Analyze the comps. 

Comps are comparable homes that have sold recently in your area. They are the best indicator of what buyers are willing to pay for a home like yours. You should look at comps that are similar to your home in size, style, condition, features, and location. You should also consider the timing of the sale, as the market can change quickly. Ideally, you should look at comps that sold within the last three months and within a half-mile radius of your home.

 3. Make adjustments. 

No two homes are exactly alike, so you need to adjust the comps to account for the differences between your home and theirs. For example, if your home has more bedrooms, bathrooms, or square footage than a comp, you can add value to your home. If your home has less curb appeal, outdated appliances, or needs repairs, you can subtract value from your home. You can use online calculators or consult with a real estate agent to estimate how much these factors affect your home’s value.

 4. Consider your goals and motivation. 

How quickly do you want to sell your home? How much profit do you want to make? How flexible are you on the price? These questions will help you determine your pricing strategy. If you want to sell fast, you might want to price your home slightly below the market value to attract more buyers and generate multiple offers. If you want to maximize your profit, you might want to price your home slightly above the market value to test the waters and negotiate with serious buyers. However, be careful not to overprice your home, as this can deter buyers and cause your home to sit on the market longer.

 5. Get professional help. 

Pricing your home for sale is not an exact science, but an art that requires experience and expertise. A real estate agent can help you with all the steps above and provide you with a comprehensive market analysis and a suggested listing price for your home. A real estate agent can also help you market your home, negotiate with buyers, and handle all the paperwork and legal issues involved in selling your home.

 If you are ready to sell your home in Philadelphia, contact me today! I am a PA and NJ real estate agent with over 25 years of experience in helping homeowners sell their homes for top dollar. I will provide you with a free home valuation and a customized marketing plan for your home. My Information in

Frank Buono

267-249-6572 Cell

FBuonoinc@Gmail.com

 Here are some websites for you to reference:

 – [Zillow](https://www.zillow.com/philadelphia-pa/apartments/)

– [Redfin](https://www.redfin.com/city/13654/PA/Philadelphia)

– [Realtor.com](https://www.realtor.com/realestateandhomes-search/Philadelphia_PA)