Aim for the number that creates action, not just attention.
You are trying to decide what price will actually bring a serious buyer, not just showings. In Rego Park, NY, I price around what buyers have proven they will pay, because last month a typical closed sale came in at 98.2% of the asking price.
Here is the constraint I plan around based on the previous 30 days buyers recently paid about 98.2% of asking in Rego Park, NY. That matters because pricing too far above the market rarely gives you "room" to negotiate, it often just pushes the best buyers to the next option. A typical sold price was $985,000 last month, while a typical asking price for active listings at month end was $614,000. Those are not the same pool of homes, so I do not blend them together I use them as a signal to get very specific about your home type, condition, and positioning before we pick a number. Do this next. First, decide whether you are competing against the active market or the recently closed market, then price to win against your true competition, not a headline number. Second, set your pricing plan with a timeline in mind a typical sale took 48 days last month, so you should know exactly what you will do if you do not see the right level of traffic early. Where people get this wrong is chasing the highest "maybe" buyer instead of the most likely buyer. With supply at 6.3 months last month in Rego Park, NY, I prefer a price that earns strong attention and protects your negotiating position rather than inviting long, uncertain back-and-forth.
About Liliana Aristizabal
Liliana Aristizabal is a licensed Real Estate Professional affiliated with RE/MAX Team, specializing in the Rego Park market. With a focus on strategic marketing and deep local knowledge, Liliana Aristizabal provides clients with expert guidance in navigating complex real estate transactions. View full profile →