For most buyers, the bottom line is almost always price. And if you’ve priced your home too high – even if you might be willing to negotiate – potential customers may not even consider it.
Be sure to do your research and see what similar homes in your neighbourhood have sold for and take that into account when pricing your own house. You should also take into account any external factors that may be discouraging buyers: Is your street particularly noisy compared to nearby homes? Is the back yard bordering a busy street?
Consider all of these factors when trying to find the right price for your house.
Even if you’ve done everything right, sometimes there are elements that are simply out of your control. It could be the wrong time of year. Families with children may be hesitant to look for a home in the middle of the school year or during the holidays.
Beyond the time of year, sometimes the market simply isn’t on your side. The demand for housing ebbs and flows depending on myriad factors, which means you could have listed your house when many other similar properties are available. Buyers can then be picky and drive down prices.
If you find yourself in an undesirable market, you have some decisions to make. While you can certainly leave the for-sale sign up and cross your fingers, you may also decide to pull it from the market and give it a try again next year. For more insights, consult our experienced team.