The Dangers of Overpricing in Northeast Metro-Atlanta

Buying a Northeast Metro-Atlanta home? Get a full home search 
Selling a Northeast Metro-Atlanta home?  Home Price Evaluation

Today, we’re going to talk about the pitfalls of overpricing your property in Northeast metro-Atlanta. We are currently in a seller’s market. If there’s ever a time to price at the high side of reasonable, it’s in a low inventory market like we’re in right now. 

Although we are in a seller’s market, buyers are extremely educated on current market trends. They are spending countless hours online educating themselves about the market, so when they walk through your door, they have a confident handle on what the price of the home should be. 

If you overprice your home, any educated buyer will not even consider it. You’re not going to receive any foot traffic on showings. All the hard work you did getting the home ready for the market will go to waste. You don’t want that.

How do you know if your home is overpriced? The National Association of Realtors says that if your home has been on the market for two weeks with no showings, or you’ve had 10 showings with no offers, your home is overpriced. If you’re getting showings but no offers, you’re actually selling the house down the street. They look at your property, see how expensive it is, and turn to the reasonably priced similar property on the same block. 

Finally, if you price too high, your home will sit on the market. This level of inventory  has a shelf life. Once a home has been on the market for an extended period of time, the buyer starts to wonder, what’s wrong with this property? Why isn’t it selling? Agents will wonder the same thing.

If you have any questions on how to accurately price your home, or any questions about real estate in general, give us a call or send us an email. We would be happy to help you!