Hi, I'm Todd Kornack with Schuler Bauer Real Estate Services. If I could give every seller one piece of advice, it would be this: the price you start with matters more than any price you change to later. Here is how I think about pricing, in plain words.
Why the first two weeks matter
When a home hits the market, every buyer who has been waiting gets an alert. That first wave is your best shot. If the price feels fair, they book showings. If it feels high, they skip it and wait for a cut. Across the Louisville metro, 2,022 listings took a price cut in September, close to half of everything for sale. Most of those sellers would have been better off pricing right on day one.
Step one: start with recent sales, not hopes
I pull the homes near you that actually sold in the last few months, plus what is active and pending right now. I look for homes similar in size, age, bedrooms, lot and condition. A neighbor's asking price is not a sale. Neither is an online estimate. Closed sales are what appraisers use, and the appraisal has to support the price if your buyer is getting a loan.
Step two: adjust for what makes your home different
A finished basement, a newer roof, a bigger lot or a busy road all move the number. So does condition. Buyers today compare a lot of homes, and they pay more for the ones that look clean and cared for.
Step three: read the market, not just the comps
Right now buyers have more choices. Active listings in the Louisville metro hit 4,412 in September, up 27.1% from a year ago, and the median home spent 45 days on the market. In Clark County, homes that sold closed at about 96.9% of list price. In La Grange, Redfin showed homes selling for about 98.5% of asking over the three months ending August. Those numbers tell me how much room buyers expect to negotiate, and where your price should land.
Step four: price where buyers search
Buyers search in ranges, like up to $300,000 or up to $350,000. A home listed at $305,000 can miss everyone who stopped their search at $300,000. Sometimes a small change puts you in front of a lot more people.
What happens if it does not sell
If we get lots of showings and no offers, the price or the condition is the issue, and we adjust. If we get few showings, the photos or the price is the issue. I give you honest feedback after every showing so we can act fast instead of waiting months.
One of my sellers told me the listing price was spot on and the house went to contract in two weeks. That is the goal every time.
Want to know what your home would sell for today? I will put together a pricing review for you, free and with no pressure.
Todd Kornack, Schuler Bauer Real Estate Services. Your agent on both sides of the river. Call or text (502) 232 1915 or visit https://toddsellskentuckiana.huzi.site/
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