If you’re selling a home in Tampa Bay or any of the surrounding communities, your agent will look at pending home sales to help you zero in on pricing – but what are pending home sales, exactly?
What Are Pending Home Sales?
Pending home sales are homes that were for sale but aren’t actively for sale now because the seller has received and accepted an offer to purchase.
These sales are important to your real estate agent because they can help paint an accurate picture of what your home is worth if you list it for sale. The bottom line is that your home is only worth what a buyer is willing to pay for it – even if that doesn’t align with what you think it’s worth. Pending sales show what buyers are likely to be willing to pay for a home that’s similar to yours.
That said, a real estate agent won’t look at all the pending home sales in your city to help you determine a price. Instead, he or she will look at homes that are comparable to yours in size, location and amenities.
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