Madeira Island Real Estate - Blog

Determining the Price of Your Property

Written by Tony Nóbrega | Jun 12, 2024 4:52:28 PM
 

Establishing the selling price of your property is crucial to kickstart the sales process, highlighting the importance of engaging a knowledgeable real estate agent. Consider factors like: 

  • Property condition. 
  • Year built. 
  • Area's square meter valuation. 
  • Comparable properties in the vicinity. 

 

Setting the market value of your property is a complex task that demands thorough research. The interest your listing attracts will indicate whether the price is accurate. 

The initial month of listing is critical, as data shows that a correctly priced property typically secures a reservation within this timeframe. 

Mispricing can lead to prolonged sale durations and ultimately, selling below market value. 

To avoid such pitfalls, seek guidance from a reputable real estate professional to navigate the process effectively.