A. It depends. All sellers need to understand the temperature of the market. The best way to do that is to have your Realtor, provide you with a market analysis. This analysis will show you:
- Active homes, which represent your competition,
- Under contract homes, which represent price points that buyers felt to be enough of a value to make an offer
- Sold homes, which show you definitively what a home sold for relative to its list price.
When reviewing the details of this market analysis it is important to understand factors that include days on market and list price versus sold price ratio. But looking at these numbers is not enough, you need to know the features and benefits of the properties in this analysis to see how they compare to your home to understand why homes are priced and/or sold for what they did.