If you’re selling your home in New Albany, OH or the Central Columbus area pricing is the single most important decision you’ll make. Homes priced correctly in the first 7–14 days generate the strongest activity and highest leverage.
As a New Albany listing agent, here is the framework I use to determine market value.
1. Start With Closed Comparable Sales
Review 3–5 similar homes sold within the last 12 months in your subdivision. If needed, expand to 18–24 months and a 1–2 mile radius. Appraisers may go back up to 36 months and 3 miles. Closed sales determine value — not active listings.
2. Evaluate Current Inventory
Buyers compare options. Analyze active listings in your price range, days on market (DOM), price per square foot, condition, and recent price reductions. Price to outperform the competition.
3. Compare Condition Carefully
Beyond bed, bath, and square footage, evaluate updates, finishes, staging, lot location, and privacy. MLS upgrade lists are essential. Condition impacts value more than most sellers realize.
4. Gather Local Agent Insight
MLS data shows history. Conversations with local listing agents reveal showing activity, buyer feedback, and offer strength in real time.
5. Consider Lending Conditions
A 1% rate change can reduce buying power by roughly 8–10%. Identify common loan types (Conventional, FHA, VA, USDA) since financing affects appraisal standards and repair requirements.
6. Measure Absorption Rate
If 20 homes are listed and 10 sell monthly, that’s a 2-month supply — typically a seller-leaning market. Higher supply requires sharper pricing.
7. Review Sale-to-List Ratios
Are homes selling at 98% of list price or 102%? This reveals negotiation strength and buyer demand.
8. Study Days on Market by Price Band
A $500K home behaves differently than a $750K home. Extended DOM often signals overpricing.
9. Protect the First 14 Days
Initial exposure drives the highest showing volume. Miss the pricing window early, and leverage declines.
10. Price for Leverage, Not Ego
The goal isn’t the highest list price. The goal is strong activity, competitive offers, clean terms, and maximum net proceeds.
How Much Is My Home Worth? If you want a data-driven valuation tailored to current New Albany market conditions or in the Central Columbus area, I’m happy to provide one.
Contact Marc Elias, Realtor® to discuss your property’s value, positioning, and next-best move.