It is a hot market in San Diego right now. This means there are many people who want to buy a home, but there are not many homes for sale. You might think this means you can pick any high price for your house and someone will pay it. However, the data shows us something different.
Even when there are not many homes for sale, overpricing or asking for too much is a big mistake. I looked at the latest market data for the Carmel Valley area in San Diego (zip code 92130). In May, we saw 36 new listings come onto the market. That is a small increase of 2.9% from the previous month.
Even with more homes available, some houses are sitting on the market for a long time without selling. Why? Because buyers today are very smart. They research before investing. They know when a price is too high for the value of the home.
Here is what happens when a price is too high:
1. Fewer people visit. Buyers will skip your home if the price looks wrong.
2. The “Old” Listing Problem. When a home stays on the market for many weeks, buyers start to ask, “What is wrong with this house?”
3. Lower Offers. Eventually, you may have to lower the price. You might end up getting less money than if you had picked the right price at the start.
4. Missing the “New Listing” excitement. The first few days your home is on the market are the most important. This is when most people are looking and feeling excited. If your price is too high during this time, you miss your best chance to get everyone’s attention while the home is fresh.
5. Helping the neighbors sell their homes instead. When your price is too high, you actually help your neighbors sell their homes. Buyers will look at your home, then look at a similar home nearby with a lower price. Your high price makes the other home look like a much better deal, so they buy that one instead of yours.
Picking the exact right price matters. You need a price that is honest and based on real numbers. My goal is to use clear data to help you make the best choice for your money.
If you want to buy or sell a home in San Diego, you need someone who looks at the facts. I am Shirin Rezania Ramos, a real estate agent here in San Diego specializing in selling houses. I am here to guide you through these numbers. I can help you find the right price so you can sell quickly, or help you find a home that is worth the cost. Let’s talk about your goals today! Call me at 858-345-0685
Know your home’s worth, click here.
Homes for sale in Carmel Valley click here.
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
