Selling a home is all about strategy, especially in markets like Chelsea. With home values consistently on the upswing in recent years, many homeowners are considering selling their Chelsea luxury homes to earn higher returns on their investments. It’s a wise move to make, especially as mortgage interest rates have also been on the rise. As it becomes more expensive for buyers to take out a loan, many sellers are interested in getting their property on the market while demand is still high.
In order to make the most from the sale of your Chelsea home, however, it’s important to adequately prepare before you list. By following these five tips, you’ll be able to prepare your home to bring in more offers once it’s on the market.
1. Know your local market
The first step of strategizing your home sale is to get to know the current market for Chelsea luxury homes. Chelsea is an upscale, artsy neighborhood with beautiful condominiums overlooking the water. In the past year, properties for sale in Chelsea have increased in value by 8.5%, and median prices now rest at $1.8 million. This kind of information is important because it gives you a general sense of what your Chelsea home could sell for.
Chelsea luxury homes currently stay on the market for an average of 68 days, which is much faster than the average of 139 days observed last year. This provides insight into current levels of demand. When homes are selling more quickly, it means there are more buyers out there ready to take properties off the market. As a seller, you want to know what to expect in terms of how long your Chelsea home might stay on the market. That way, you can tell whether it’s been listed for too long and address any potential issues that might arise.
2. Prep your home perfectly
Another key way to increase the number of offers on your Chelsea property is by taking all the right measures to prepare your home for a great sale. These days, the majority of buyers are searching for their next home online, meaning a seller’s online listing has never been more important. In order to produce a great listing and draw in as many buyers as you can, there are a few things you can do.
Repairs and renovations
First, you want to complete any repairs or renovations you know your property needs or that you know will boost
your property’s value. If you’re willing to invest whatever it takes to earn the largest return on your investment, opt for a full kitchen remodel or master bath upgrade. Swapping out old appliances and fixtures and replacing them with modern, stainless steel or built-in alternatives can really go a long way with buyers. If you’re not interested in making big changes or your home is already updated, adding a fresh coat of neutral paint or polishing cabinets and countertops can be a great way to make the space feel fresh without investing a great deal of your resources.
Another step to consider is conducting a pre-listing inspection. Typically, buyers will hire an independent inspector to look over the property once the buyer’s offer has been accepted. But it’s a good idea for the sellers to conduct their own inspection before listing so any issues can be solved up front. This allows sellers to maintain more of an upper hand during negotiations because the buyer’s inspector won’t come across issues that could drive down the price. By finding problem areas and addressing them head-on, the seller can make sure they’re listing their home for top dollar.
Staging and photography
Finally, investing in home staging
and photography will ensure your listing shines as it should with buyers. Surveys by the National Association of Realtors have shown that professionally staged and photographed homes can sell as much as 30 times faster than properties that are not and for up to 20% more
. Staging showcased through crisp, clear photography helps buyers picture themselves in and emotionally connect with a space, making them more likely to click on the listing and consider attending a showing. It’s an added expense, but one that’s well worth it if you want to increase the number of offers on your Chelsea home.
3. Determine the right price
The next way to bring in top offers on your property is by determining the right price to list it at. Homes that are listed too high won’t receive much traction from buyers and may linger on the market for a long time. Homes that are listed too low may also dissuade buyers who begin to wonder if the property has significant issues. Low prices also, of course, don’t do the seller any favors by missing out on well-deserved profits.
The best way to determine the price of your home is by running a comparative market analysis
. When you partner with an expert real estate broker, they will produce this kind of analysis for you, taking into account nearby properties that have sold with similar square footage and amenities to your own.
4. List at the best time
Hand in hand with determining the right price for your home is determining when the best time to sell might be. Real estate trends like home value and buyer demand can fluctuate throughout the year, so working closely with a real estate broker who knows when buyers are most active will ensure you see the most offers coming in for your property. If you prefer a speedy sale, make sure to list during a season when demand is highest. If you want to earn the most from your sale, you may want to list when inventory is lower.
Listing homes for sale in Chelsea
To make sure you have a successful sale, partner with a highly ranked real estate broker who has the years of experience necessary to guide you through the process. Broker Kelly Robinson has been serving clients in the New York real estate market for nearly 20 years, and she’s part of a team that’s consistently rated in the top 1.5% across the country. Get in touch with Kelly
and take your first step toward selling your home today.