Start with a review of recent sales of similar homes, then consider the homes a buyer could choose instead of yours. That gives your asking price a clearer basis than a single townwide figure.
For single-family homes and condos, townhouses and apartments in Pontiac, the typical sale price was $151,050 in the latest market report. The typical asking price among homes listed for sale was $155,500 in the latest market report. The number of homes listed for sale in the latest market report was 114. Housing supply, measured in months, was 2.78 in the latest market report.
The asking-price and sale-price figures measure different things; their difference does not tell you what a particular buyer negotiated. Your home's condition, features and direct alternatives deserve more weight in a pricing discussion than a townwide figure alone. Starting with an ambitious asking price has a tradeoff: you still need a clear reason for buyers to consider your home alongside other choices.
Review recent sales of similar homes with me, paying attention to differences in size, condition and features. Look separately at competing homes listed for sale so you understand what buyers may compare with your asking price. Choose an asking price you can explain, and decide in advance when you would revisit it if your plans change.
