The Importance of Correct Pricing
Pricing your home correctly from the start is the single most important factor in a successful sale. Overpriced homes sit on the market, becoming "stale" and often selling for less than they would have at the right price.
Comparative Market Analysis (CMA)
A CMA examines recent sales of similar homes to determine market value:
- Comparable properties: Similar in size, age, condition, and location
- Sold within 90 days: Recent sales reflect current market
- Active listings: Your competition
- Expired listings: Priced too high
Factors That Affect Value
Positive Factors
- Updated kitchen and bathrooms
- Desirable school district
- Large lot or premium location
- Energy-efficient upgrades
- Recent roof or HVAC replacement
Negative Factors
- Dated finishes
- Deferred maintenance
- Busy road or commercial proximity
- Small or awkward lot
- Functional obsolescence
NWA Market Considerations
Northwest Arkansas has unique market dynamics:
- Corporate relocations can create sudden demand
- School district boundaries significantly impact value
- New construction competes with existing homes
- Seasonal patterns (spring is typically busiest)
Pricing Strategies
- At market value: Attracts serious buyers, fair offers
- Slightly below market: Creates urgency, multiple offers
- Above market: Risk of extended time on market
When to Adjust Price
Consider a price reduction if:
- Few showings in first 2 weeks
- Showings but no offers after 20+ viewings
- Market conditions change
- Similar homes are selling faster
