How to Price Your Home.
The best technique for pricing a home when listing it for sale is setting the asking price just below a round number, according to recent research published by the Journal of Housing Research. On average, buyers are more attracted to a house priced at $399,000 than to a house priced at $400,000. In addition, ‘just below’ pricing may work out favorably for sellers in terms of their bottom line. Based on the research, the ‘just below’ pricing strategy yields a selling price that is about 2.5 to 3% higher compared with a rounded price. That is the equivalent of $10,000 to $12,000 on a $400,000 house!