You've loved your home but are thinking it might be time to sell. As a Home Owner and potential Home Seller, you're curious how your home value compares with others. The Halifax Real Estate Market has changed considerably over the past 3 years. Values have changed. You will want the most recent stats of home sales in your area.
A CMA (Comparative Market Analysis) is a method of property valuation real estate professionals use to estimate the value of residential properties. This analysis provides a range of values. It examines the prices at which similar properties in the same area have recently sold or just listed. These homes are called "comparables".
As your local experienced REALTOR® in Halifax Regional Municipality, I'll analyze many factors when suggesting a list price. You will want the highest possible amount for your home in the least amount of time.
WHAT FACTORS WILL AFFECT THE SELLING PRICE?
CURRENT MARKET CONDITIONS
Pricing a home should include looking at the current market conditions and trends in your area. Knowing how many properties with similar features are up for sale and how fast they’re being snapped up can help determine how a property should be priced.
LOCATION
Sought after communities and neighbourhoods near amenities and well-respected schools will typically demand a higher price tag.
SIZE AND LAYOUT
A home’s layout can factor into its pricing; most families in his market look for three or more bedrooms on one level. Open concept, especially kitchen and living areas, is often preferred.
The square footage of a home and land size also influences the value of a property.
AGE AND CONDITION
How old is the property, has it had or does it need major updates, including windows, roof, kitchen, bathrooms, and mechanical systems. These are all factors into pricing.
When major components of a home have been updated or replaced, many buyers see that as a long-term investment they will not need to spend money on. On the other hand, "Handyman's Specials" gone wrong, with substandard work, will decrease your home’s appeal and, therefore, the price.
BONUS SPACE
A home with an in-law suite, detached garage or an additional income potential can be important. With more people now working from home, a well presented separate office is highly desirable. These are taken into consideration when pricing.
SELLER'S MOTIVATION
A Seller’s motivation maybe be taken into account when pricing a property. For example, if a seller has an accepted offer on another property, or they’re being transferred out of town, they may ask for a compelling listing price to attract more buyers.
