EVALUATING YOUR HOMES WORTH IN THE COVID-19 ERA

5 CRITERIA FOR PRICING A HOME 

 
 

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison. 

• LOCATION:  

Homes in the same neighbourhood typically follow the same market trends. Comparing your home to another in the same neighbourhood is a good start but comparing it to homes on the same street or block is even better. 

• DATE OF SALE:  

It varies by location, but housing markets can see a ton of fluctuation in a short time period. Best to use the most recent sales data available. 

• HOME BUILD:  

Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics. 

• FEATURES & UPGRADES:  

Remodelledds bathrooms and kitchens can raise a home’s price, and so can less flashy upgrades like a new roof or HVAC system. Be sure to look for similar bells and whistles. 

• SALE TYPES:  

Homes that are sold as short sales or foreclosures are often in distress or sold at a lower price than they’d receive from a more typical sale. These homes are not as useful for comparisons.