To sell in this buyer's market, your listing price should be the best price in your neighborhood.
Remember, we are in a price war and beauty contest. Pricing your home is the most crucial aspect of selling a home. A bottom line for both seller and buyer is "PRICE".
Do not price high with hopes that you can "always come down."
If you price your home at market value, your home will sell (providing your home is in move-in condition.) Do you know that many homes sell within a month when competitively priced at market-value? A home's first week on the market is the most important. Realtors and potential buyers are more excited and interested in new listings, so it is crucial that your price be reasonable from the start Your highest chances for a fruitful sale occur when your home is new on the market. The longer your home is for sale, the less likely you are to get your ideal price.
If there are no showings within the first two weeks, this is an indicator that your price is probably too high.
If there are many showings but no offers, your price is probably right at market value. Upgrading certain features to appeal to buyers such as repainting walls, replacing or professionally cleaning carpets, or replacing hardware many be necessary. You can do some of these upgrades yourself.