Look at 2010 Market When Pricing Your Home

we gave you a glance at home sales from Nov. 1, 2010 through Jan. 28, 2011, showing a range of what buyers were willing to pay compared to where sellers had priced their homes.

Potential sellers entering the market in 2011 should look at homes that are still for sale from last year.

For example, currently in zip code 30350, there are 141 detached homes for sale from 2010.  They are priced from $135,000 to $4,765,000. Eighty percent of these homes range from $300,000 to $1,000,000.

Because there wasn’t much sold under $300,000, a home at that price should sell, in theory, because it is at the bottom of the market.

Last week’s column showed that in recent months, a group of detached homes that were sold were priced from $213,700 to $1,330,000. This data shows that 80 percent of the current market appears to be reasonably priced. 

If you plan to put your detached home on the market this year, realize that you join 141 other homes available for sale. And if you price your house above the average market value, then your odds of selling decrease. 

The most glorious amenities in an $800,000 home is not going to matter if the market is only willing to pay $400,000. 

From 2010, the condominium/townhouse market shows 125 homes that are still for sale and priced from $24,900 to $329,900.