An impartial evaluation of market activity is the most effective way to estimate a property’s potential selling price. A Comparative Market Analysis considers similar properties to yours that have sold recently, are currently on the market, are comparably priced, as well as properties that failed to attract a quality buyer.

The Risks of Over-Pricing

Over-pricing can damage the chances for a successful home sale. It may prolong the time a property is on the market, diminish the impact of the marketing plan, reduce the pool of prospective buyers, and could ultimately result in a lower sales price. Factors that have little or no influence on the market value of a house include the price the seller originally paid for the property, the seller’s expected net proceeds, or the amount spent on improvements.