Understanding how Homes are Priced
It makes sense to know how houses are being priced, whether you intend to put your home on the market sometime soon, or you’re just interested in how much your property is worth from an investment aspect.
There is an extremely high chance, when a house goes on the market, that it will sell for something close enough to its market value.
So if a three-bedroom, detached home is sold for x dollars in a neighborhood, then you might expect to sell a similar home down the street at around the same price.
This is why real estate professionals look closely at the area’s recent home sales to advise buyers on the best listing price.
So, are there additional variables that determine the sale price? There are many, actually.
House renovations, unique features such as a wide deck, and your home’s overall appeal can all increase the value for prospective buyers.
Although some of these features may help increase the sale price, others may help you sell your home faster. If you’re looking for an accurate market value for your home, contact us at 401-396-2888 for a free valuation. We’re always glad to help!