Price Differences for Similar Homes in Minneapolis

If you’ve ever listed your home for sale in Minneapolis, one thing you probably noticed is how vastly different list prices can be – even when homes are apparently similar to the average passerby. After all, our neighborhoods tend to lean heavily on one type of house style over another, largely because when the bulk of homes in a certain neighborhood were built, people were either using the same builder or the same/similar building plan (especially since they were simple to use or more affordable than custom options).

So, why is it set up like that? Why isn’t every rambler priced like every other rambler, and every tudor priced like every other tudor?

The answer, quite simply, is that as similar as some properties may appear on the exterior, the interior can tell an entirely different story. Homes can be dramatically different in terms of year built, layout, and quality of craftsmanship. And these elements can have a big impact on your sales price.

What it comes down to is details – is the kitchen beautifully remodeled or is it in poor and dingy condition? Are the cabinets high quality, or about to fall apart? Is the trim solid and level, or does it need to be replaced? Does the home have hardwood floors, or have they been covered in musty carpet or outdated tile? What size are the bedrooms? Does the HVAC system have good or back duct venting? Is the furnace new or old? Is the siding new/in good condition, or is it in need of an overhaul? Is the yard nice and flat (and easy to mow) or are there major elevation issues with a shaky retaining wall that likely needs to be replaced for safety reasons? Details are everything.

So, I’ve found that when you’re getting ready to sell, it’s best to tour a wide range of similar properties to understand the differences in values in the marketplace. Ultimately, you want to determine how your home stacks up against them. The marketplace is, essentially, a competition, and to get the most interest, offers, and hopefully the highest sales price, you definitely want to position yourself as #1.

Thinking about selling in South Minneapolis this year? Give us a call and let’s talk about how we can get you the highest sales price and position your home as top notch.