Pricing your Sarasota home correctly from day one is the single most important factor in selling quickly and for top dollar. In today’s shifting market, homes that are priced right are still selling within 30 days, while overpriced properties linger for months and often sell for less than they would have if priced correctly initially. The key is understanding the psychology of buyers and the specifics of your local micro-market.

Start by researching recent comparable sales (comps) in your specific Sarasota neighborhood. Look for homes that have sold in the past 3-6 months with similar square footage, bedroom count, and features. Pay special attention to homes on your street or in your immediate area, as even within Sarasota, prices can vary dramatically between neighborhoods like Bird Key, Siesta Key, and mainland communities. Remember that active listings are just asking prices—sold properties tell you what buyers actually paid.

Next, consider your home’s unique features and condition compared to the comps. Does your home have waterfront access, a pool, or recent renovations that might command a premium? Conversely, does it need updates or repairs that might warrant a lower price? Be honest about your home’s condition and remember that today’s buyers have usually viewed dozens of properties online before scheduling a showing. They know value when they see it—and they recognize overpricing just as quickly.

Market conditions should heavily influence your pricing strategy. Currently in Sarasota, we’re seeing more inventory than in recent years, giving buyers more options. This means competitive pricing is essential. Consider having your real estate agent prepare a net sheet showing your proceeds at different price points. Sometimes pricing just 5% lower can dramatically increase buyer interest, potentially leading to multiple offers and a faster sale with fewer contingencies.

Finally, be prepared to adjust if necessary. If your home receives few showings in the first two weeks, that’s valuable market feedback. The most costly mistake sellers make is ignoring this feedback and waiting too long to adjust the price. In Sarasota’s market, that first price reduction often comes too late, after buyer interest has waned. Work with your agent to set a timeline for evaluating activity and adjusting if needed—this proactive approach will help you sell faster and often for more money in the end.