The Secret To Selling Your Katy, TX House in Today’s Market
Selling your Home or Buying A Home?
Call 281-717-4412 or visit callmickiec.com
A few years ago, homes were flying off the shelves and getting multiple offers well over their asking price. It felt like you could name your price and still have buyers lined up at the door.
But today’ Katy-Houston housing market is different. Buyers are getting more selective now that inventory has grown. Homes are sitting a little longer. And more sellers are having to cut their prices.
So, how do you still come out on top? It all starts with one thing, pricing your Katy, TX house right from the start. Today, that matters more than ever – and it can make or break your sale.
There’s a Real Price Disconnect Between Buyers and Sellers
A recent survey from Realtor.com shows 81% of home sellers believe they’ll get their asking price or more. But the actual sales data shows there’s a growing gap between what sellers expect and what buyers are actually willing to pay.
In fact, an annual report from the National Association of Realtors (NAR) shows 44% of recently sold homes went for less than the asking price. And 1 in 3 sellers had to cut their price at least once before the home sold. It’s a sign that expectations may be a little out of step with today’s reality.
Check out the graph below. It uses data from Redfin to show that asking prices (blue line) are higher than actual sales prices (green line) by a wider and wider margin:
This tells you something important: not all buyers are willing to pay what many sellers are asking. That doesn’t mean you can’t sell for a great price – but it does mean you need to start with a price that reflects what people are willing to pay in today’s market.
What Happens When You Overprice Your House?
Pricing your house high initially may seem like a smart move, so you have more room to negotiate. But the reality is, an overpriced home can sit on the market and turn buyers away.
Buyers are smart. And when they see a katy house that’s been sitting for a while, they start to wonder what’s wrong with it. That can lead to fewer showings, less interest, and eventually, a price cut to re-ignite attention. As Realtor.com explains:
“By getting the right price early on, you can increase the odds buyers will be interested in the home. In turn, this decreases the chances the home will sit on the market for a lengthier timeline, also reducing the odds you’ll need to lower the listing price.”
The longer a house sits, the harder it can be to sell.
Selling your Home or Buying A Home?
Call 281-717-4412 or visit callmickiec.com
You Still Have a Great Opportunity – If You Price Your House Right
To avoid making this mistake, it’s important to lean on an agent who knows what’s happening locally when you set your asking price.
Your agent will look at recent local sales, buyer trends, and inventory levels to find that pricing sweet spot for your neighborhood – because it’s going to be different based on where you live.
And here’s something else to keep in mind, Katy home prices have climbed more than 57% over the past five years. So, even if you price a bit below the number you had your sights set on, you’ll likely still be in a great position profit-wise.
With a local real estate agent’s help, you’ll attract more attention, avoid seeing your house sit on the market too long, and maximize your chances of getting a strong offer.
In today’s market, the right price works. As Mike Simonsen, Founder of Altos Research, explains:
“. . . the best properties, well priced are selling quickly in most of the country.”
Bottom Line
The market has changed, but your opportunity to sell hasn’t. You just need the right pricing plan. Let’s walk through what’s happening with prices in our area and determine what price would help your house sell quickly and for top dollar.
Are you thinking about selling your home in Katy, TX-Houston Area?
Well, you’re in luck because we have some tips and tricks to help you get top dollar for your property. Selling your home in Katy, TX can be a daunting task, but with the right approach, you can make the process smooth and profitable.
First things first, make sure your home is in tip-top shape. This means decluttering, deep cleaning, and making any necessary repairs. Potential buyers want to see a well-maintained home that they can envision themselves living in. By taking the time to spruce up your property, you can increase its value and attract more interested buyers.
Next, consider staging your home. Staging involves arranging furniture and decor in a way that highlights your home’s best features and helps potential buyers visualize themselves living there. Professional staging can be worth the investment, as it can make your home more appealing and help it sell faster.
When it comes to pricing your home, it’s important to do your research. Look at similar properties in Katy, TX that have recently sold to get an idea of what your home is worth. Pricing your home too high can scare off potential buyers, while pricing it too low can leave money on the table. Work with a real estate agent to come up with a competitive pricing strategy that will attract interested buyers.
Marketing is key when selling your home in Katy, TX. Make sure your listing is featured on popular real estate websites, social media platforms, and in local advertisements. Professional photos and videos can also help make your home stand out online. Consider hosting open houses and virtual tours to give potential buyers a chance to see your home in person.
Lastly, be prepared for negotiations. Buyers may try to lower the price or request repairs after a home inspection. Stay flexible and open to compromise, but also know your bottom line. With the right strategy and a little patience, you can successfully sell your home in Katy, TX and move on to your next adventure.
