Overpriced homes take longer to sell. The higher above market value you price your home the longer it will take to sell.
If you price your home to high you will have fewer buyers, and buyers will have trouble with financing because the market value is not there for the appraisers.
What Influences the Market Value of Your Home?
- Location
- Age
- Size of house and lot
- Interest rates and financing availability
- Buyer demand
- Price of sold properties
- Economic conditions nationwide and locally
- Seasonal demands
- Competitions