Here's what to know about pricing: it starts with a comparative market analysis, a look at what similar homes near you have actually sold for in the last three to six months. Not what's listed right now, and not what your home might have been worth two years ago.
In the Northwest Suburbs, "similar" needs to mean something specific. A four-bedroom colonial in Palatine and one in Mount Prospect can be worth different amounts because of school district, lot size, how close it is to the Metra, or even which side of a town line it sits on.
A few things worth knowing as you think about your number:
Overpricing usually costs more than underpricing. A home priced too high sits on the market, picks up a stale reputation, and often ends up selling for less than accurate pricing would have gotten from the start. The first two weeks matter the most, since that's when the most buyers and agents are paying attention. And condition matters too. Two nearly identical homes can price differently depending on how updated the kitchen is, or whether the basement is finished.
A local agent working from recent, hyperlocal sold data is going to get you much closer to the right number than a national home-value tool. Those are a starting point, not a strategy.
Curious what this means for your home? Book a free conversation at tinyurl.com/talk2mari or text your suburb to 630-267-1808.
Full guide: How to Price Your Home to Sell in the NW Chicago Suburbs
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