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Deciding on a listing price that you are comfortable with and that is conducive to the current market climate in your area is very important. You may want to employ a real estate professional to help you with this decision, although only you know what price you can afford to sell your condo at. Here are a few things you should keep in mind when deciding on your listing price. |
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What is the Market Bearing?
Just because condos in Miami Beach, FL are selling for $460 per square foot does not mean that you will be able to charge the same rate in Atlanta, GA. Look at what condo prices are doing in your area and make sure your listing price per square foot is reasonable.
How Many Units are on the Market?
Depending on how many units are on the market will factor into how much you can sell your condo for. If there are 100 units for sale in your building you might have a hard time getting a buyer interested in your unit if it is priced higher than the others. If you have the only remaining unit for sale in your area you might be able to sell it at a premium price.
What is Special about Your Condo?
Now is when those high end finishes you paid for really pay off. Those extra dollars spent on designer cabinets, stainless steel appliances, the sub-zero fridge and the new wood floors can become major selling points that help distinguish your unit from the others on the market. A buyer will be more likely to consider your unit at a higher price because of the investments you have made in your condo.
Location
When selling your condo, location can become your best friend or your worst enemy. If your condo is on the last oceanfront property you will be able to sell it at a premium price. If they recently built a factory next to your building you may have to drastically reduce your price to entice someone to buy your condo. |