Price Your Kansas City Home to Maximize Its Value: The strategy that nets you more!

The past few years have been a wild ride for home sellers. Prices were at record highs, and buyers were taking advantage of historically low interest rates. But today’s market looks a lot different, especially in many parts of the country. If you’re thinking about selling your home, you might be wondering how to price it right, especially when it seems like other sellers around you are still listing too high.

The first thing you should do, with your real estate agent’s help, is to focus on recent sales—not just current listings. Sometimes you will find that homes are selling for quite a bit less than they’re listed for. While others you will see homes selling quickly for their asking price. It’s also important to pay attention to trends. Are sale prices going up or down month over month? And by how much? This will help you decide whether to price your home a little higher than recent sales or to be more conservative. In Kansas City, we see some neighborhoods where home values are increasing while in others there is a steady decline. It's important to understand how these trends affect your specific home.

If you’re in an area with few comparable sales—like a neighborhood with lots of custom homes—it might be worth getting a professional appraisal. This typically costs a few hundred dollars, but it gives you a detailed understanding of the local market. Appraisers consider your home’s unique features and recent sales data. So if you’ve got a fantastic view, a big lot, or recent upgrades, this can be really helpful information.

Most importantly, trust your agent’s advice! Resist the temptation to price too high (this will often end up costing you more money!) just because others are doing it. Being realistic about your home’s value will help you sell faster and for the best possible price in today’s market.

If you are curious what your Kansas City area home may sell for in today's market, check your home value here.