Factors That Affect The Price Of The Home, What Sellers Should Know

Joseph Jennings | Broker, ABR, PPM, CAM
Tag: Selling a Home

Published: Jan. 18, 2023 

Factors That Affect The Price Of The Home, What Sellers Should Know

Selling a house is a big decision and it’s important to know what it is worth. Not in your eyes, but what the buyers are willing to pay. Even if you’re just exploring the idea, having an estimate of your home value to buyers can help with your decision. There are many factors that can affect the price of a home.

Some of the most important things for a seller to consider include:

  1. Location: The location of a home has a significant impact on its price. Homes in popular neighborhoods or areas with good schools and amenities tend to sell for higher prices. Also, what the lot the home is on has to offer, views, surface (flat or sloped). Location to major highways, shopping and entertainment are huge factors as well.
  2. Size: Larger homes generally sell for more than smaller homes, all else being equal.
  3. Condition: Homes that are in good condition, with recent updates and renovations, will sell for more than homes that need repairs or have outdated features.
  4. Age: Newer homes tend to sell for more than older homes, but this can vary depending on the condition of the home and other factors.
  5. Market demand: Homes that are in high demand, either due to their location or other factors, will generally sell for higher prices.
  6. Competition: If there are many other homes for sale in the area, it may be necessary to price the home competitively in order to attract buyers.
  7. Financing options: Homes that are available for financing through traditional mortgage loans may sell for more than homes that are only available for cash buyers.
  8. Market trends: The overall market conditions, including the state of the economy and the real estate market, can affect the price of a home. Despite the increase in mortgage rates in our current market, buyer demand is still moderate, inventory is still low so it is continuing to be seller’s market

Supply Is Still Low

The number of homes for sale is growing, but inventory is still low overall. That means it’s still a sellers’ market.


Considering The Factors

By considering these factors, a seller can get a better sense of the likely price for their home and make informed decisions about how to price it. It is important for sellers to be aware of these factors and to work with real estate professionals like Sunny & Associates to determine the appropriate price for their home.

A professional appraisal can also be helpful in determining the value of the home.

Joe Jennings Broker for Sunny & Associates Realty
Search Tags: selling a home

Why Using A Rental Agent is a MUST in Metro Fort Lauderdale: A Guide by Joe Jennings, Sunny and Associates Realty

Finding the perfect rental property in Metro Fort Lauderdale can be a daunting task. Numerous condo buildings, competitive rental markets…

Why Are People Driven To Move In Today’s Real Estate Market

This year, with so many Americans relocating throughout the United States, the pandemic shut down has many reshaping their own outlook on needs and lifestyle choices.

Is It A Good Idea To Wait For Mortgage Rates To Drop?

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you…

The Importance of Hiring a Quality Property Manager like Sunny & Associates for Your Rental Property in Florida

Property owners in Florida must decide to manage their rental properties themselves or hire a professional property management company…

Choosing A Home In South Florida? What You Need To Know

South Florida is one of the most desirable places to live in the US. With its sunny weather, beautiful beaches, and thriving cultural scene…

Residential Real Estate Investing, 5 First Steps

Many times a week we get calls from people who want to Invest in Residential Real Estate. 5 steps for your Real Estate Investment journey.

Why Investing In Yearly Rental Homes Long Term vs Short Term Has Its Advantages

Owning a rental property that rents out on a yearly basis versus a short-term rental property offers several benefits

Plantation Residential Real Estate is in TROUBLE, What we like to call GOOD TROUBLE

The National Association of Realtors data reveals that the City of Plantation has several issues brewing with our Residential Real Estate market.

Sell Your Home Now, Don’t Wait To Be Behind The Pack, What To Do In 2022

2021 has been a year like no other for homeowners. Homeowners are realizing the benefits of today’s sellers’ market. Record-breaking…

Mortgage Rates After FED Hikes By 0.75% What This Means For Future Rates

As expected, The Federal Reserve announced a rate hike of 0.75%. But don’t think that the FED rate hikes will move mortgage rates higher.


Top Rated Real Estate Broker

Real Estate Markets: Plantation, Davie, Cooper City, Pembroke Pines, Weston, Sunrise, Fort Lauderdale, Boca Raton, Port St. Lucie, Vero Beach and Tallahassee Florida.