The biggest question most home sellers ask is how to price their home. Only you know how your home truly compares to others that are selling and not selling in the marketplace, however, there are some agent observations that it can be helpful to know when pricing a home.
The single biggest reason that homes don't sell is that they are priced too high. Often sellers want to list their home for the highest amount or to list at a price they feel reflects their investment into the property. While sometimes homes sell for higher values, pricing too high will often also turn off buyers that might have been convinced to bid higher once seeing the home. On the other hand, consider what happens to homes priced a touch low: they look like a great deal. This means that more people show up to see the home. It also means that more people put in bids, and it can mean a bidding war.
In a strong market, a home that is priced a bit low usually ends up selling for what it is worth or more, even if the starting price was lower, because buyers start to compete for it. It is rare for a home that is priced too low not to sell for what it is worth in a market where homes are moving. A home that is priced too high can keep those who would have paid that higher price away because the starting point is too high. We always recommend to list your home at just a bit low and then be pleasantly surprised it if sells for more.