If you need assistance, please call 914-290-5258

"How much can you sell my Hudson Valley home for?"

Thursday, February 28, 2019   /   by Vanessa Saunders

"How much can you sell my Hudson Valley home for?"

20180809-Share-STM.jpg

That's the million dollar question I'm asked when I meet with Hudson Valley home owners thinking of putting their property on the market. The answer is, it depends on a variety of factors about the home and the market it's in.

To arrive at a selling price for any property, we first compare it to other properties which have sold in its area or a similar neighborhood. We consider  what has sold recently, the asking price of active listings, under contract and expired within the last three to six months. 

With that data, we are able to prepare a statistical market analysis, which helps to provide a fresh perspective on the market and provides the percentage of asking prices comparable homes are getting with regard to their listing price as well as the high, median, average and low asking prices. What we end up with is called the "absorption rate," which is the rate homes are selling in relation to new listings coming on the market, inventory levels and the levels of supply versus demand for your neighborhood, area and competing homes in your price range.

What many hopeful sellers often fail to understand is that the price of a home is subjective. What the neighbors across the street sold for or a sale nearby three months ago is only an indication of what their house might sell for. It is not a guarantee. And to complicate matters, sellers who don't have access to the MLS and rely on hearsay or what their neighbors told them they sold for may not be getting the truth. People often inflate the selling price of their home, either to make themselves look good, or to hide the fact that they sold too low and could be bringing down home values in the area.

Also complicating things is that the real estate market is ever-changing. How many and what other kinds of properties will the seller be competing with when he goes on the market. What's going on with interest rates? What time of year is it? How heavy is buyer activity at the time?

Comparable prices heavily influence buyers and appraisers, but as we all know, the price a house will ultimately sell for is whatever price a buyer and seller agree to. It is essential to consider all the above factors, and throw in the gut feelings of an experienced real estate professional with boots-on-the-ground knowledge of the area. 

  hudson valley real estate, hudson valley property, hudson valley home, home investment, hudson valley home owners, housing sales, hudson valley home sellers, housing sales inventory, orange county ny, westchester county, rockland county, ulster county, sullivan county, mortgage rates, why work with a realtor, selling your home, manhattan, dutchess, sales strategies

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

image001.png The data relating to real estate for sale or lease on this web site comes in part from HGMLS. Real estate listings held by brokerage firms other than are marked with the HGMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by the Hudson Gateway Multiple Listing Service, Inc. or the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2019 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2019 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.