What Determines the Sale Price of a Home?

Louisiana REALTORS® • March 16, 2023

Arguably the most critical step when it comes to selling your home is setting an accurate and appropriate price. The same goes for buying a house. It is very important that you understand what a fair price is for the property you are potentially buying.  REALTORS® offer much value in helping both home buyers and home sellers calculate and consider pricing. Here are three things that influence the price of a home.


Age & Condition of the Home

These factors are imperative when it comes to determining the future cost of ownership. In terms of maintenance, older homes could require more work and money in the long run. The foundation, electrical work, structural integrity, plumbing and overall age should be strongly considered from the perspective of both the home buyer and the seller, and the price or offer should reflect it. 


Historical & Comparable Real Estate Sales

Looking at the historical sale prices of an older property, combined with the prices of homes in the area of comparable size, age, and condition can provide a consistent baseline for both setting a price, and negotiating an offer.


The Property’s Location

Everything from the market to the neighborhood to the schools to nearby attractions and amenities will dramatically influence a home’s price. Convenience, economy, and education are all major considerations for a buyer. 


While buying and selling a home is a big decision, the success of that decision ultimately comes down to price. How much do you pay, or how much do you get? Trusting a REALTOR® from either side of the transaction will help ensure you get exactly what you need.

RESOURCES FOR SELLING YOUR HOME

Consumer Guide Update: Buying Land and Building a New Home

By Louisiana REALTORS® • April 17, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on buying land and building a new home. This guide covers how to find land for sale, explains construction loans, and weighs the pros and cons of building a custom home. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Buying Land and Building a New Home Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property title theft.
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5 Negotiation Secrets Smart Buyers Use to Get Better Deals—And How a REALTOR® Can Help

By Louisiana REALTORS® • April 16, 2025
Negotiating a real estate deal can be overwhelming, especially for buyers who don’t have experience with the process. Here are five key negotiation strategies smart buyers use—and how working with a REALTOR® provides a competitive edge.

Consumer Guide Update: Deeds and Titles

By Louisiana REALTORS® • April 11, 2025
As previewed last week, NAR is pleased to share the latest consumer guide focused on deeds and titles. This guide covers the difference between a deed and a title, common types of deeds, and title searches and insurance. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Marketing Your Home Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying land / constructing a new home.
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