When you're ready to list your home for sale, your realtor will help you determine the best listing price. However, it's helpful to understand what factors influence the listing price your realtor suggests. Here are the top 6 influences on your home's listing price.
1. Neighborhood Comps - Comps are comparable homes in your neighborhood that have sold recently and their final sales price. Realtors use comps and historical sales to help decide the best list price for your home.
2. Neighborhood Amenities - Particularly in the Myrtle Beach area, resort-style amenities are common in a number of housing communities. Large pools, lazy rivers, tennis courts, walking trails and even boat slips or docks are just a small sampling of the amenities available in many neighborhoods. If your home is in a community with a wide range of desirable neighborhood amenities, it can bump up your listing price.
3. Home Amenities - The features of the home itself can have a big influence on your listing price. In almost all cases, the key here is quality over quantity. Brand name appliances, newer construction, plenty of windows for natural light, high ceilings and open layouts all have a positive influence on your home's listing price.
4. Age of Home and Upkeep - In general, most older homes command lower asking prices unless there have been significant upgrades. Older homes often have lower ceilings, closed-style floorplans and smaller rooms than more recently built homes. However, much depends on the location of the home and the quality of the features and items the home does have.
5. Location - In terms of location, it helps to think in a very pin-pointed way. Even similar homes a few streets apart can have very different list prices depending on things like traffic noise, proximity to top-rated schools, proximity to shops and restaurants, the direction the house faces and the condition of the homes and yards surrounding your home.
6. Market Conditions at that Specific Moment - Market conditions shift quickly in today's real estate market. What is happening in your specific market at the specific time when you list your home can also influence your listing price. The amount of inventory available for sale in your market near the same price range, the time of year (especially in Myrtle Beach) and other hyper-local factors can make a big difference for your listing.
Of course, your Century 21 Broadhurst agent considers all of these influencing factors when suggesting a listing price for your home. If you have questions about how any of these influencers will impact your home's listing price, we've got the answers you need to feel confident that your listing will be priced right.