June 8, 2023

Six Steps to Pricing Your Condo - Comprehensive Spreadsheet Analysis 📊

June 8, 2023

Six Steps to Pricing Your Condo - Comprehensive Spreadsheet Analysis 📊

Six Steps to Pricing Your Condo - Comprehensive Spreadsheet Analysis 📊

When it comes to pricing your condo I understand the importance of a detailed analysis that covers all six essential steps. To provide you with the assurance that your condo is priced correctly to sell at the maximum price in the minimum time, I have prepared a comprehensive spreadsheet analysis that encompasses these steps.  The spreadsheet example is for 222 N Columbus #701.  Let's explore how each step is covered:

1️⃣ Step 1: Gather Sales Data

The below spreadsheet contains a wealth of sales data related to condos in your area. It includes crucial information such as original list prices, price changes, closed prices, list price per square foot, closed price per square foot, percentage off the original list price, closed dates, views, market days, and unit conditions. This comprehensive data forms the foundation of our analysis.

2️⃣ Step 2: Analyze Market Trends

By carefully examining the data within the spreadsheet, we can analyze market trends and dynamics. The spreadsheet is designed to provide insights into sales that occurred in 2022 and breaks down the data into specific tiers for the last 18 months. This allows us to identify correlations between listing prices, closed prices, and market time, enabling us to make informed decisions regarding pricing strategies.

3️⃣ Step 3: Assess Price Adjustments

Within the spreadsheet, we can assess any price adjustments made by sellers during their listing periods. This analysis helps us understand how sellers responded to market conditions and buyer feedback. By considering price adjustments, we can determine the most effective pricing strategy for your condo, ensuring it remains competitive and attractive to potential buyers.

4️⃣ Step 4: Compare Value per Square Foot

The spreadsheet includes valuable information on closed prices per square foot, facilitating a comparison of your condo's value against similar properties in the market. This comparative analysis enables us to position your condo competitively, ensuring that it is priced appropriately to attract potential buyers and achieve the maximum price.

5️⃣ Step 5: Evaluate Negotiation Potential

By reviewing the percentage off the original list price data within the spreadsheet, we can evaluate the negotiation potential for your condo. This information provides insights into buyer behavior and sets realistic expectations for potential negotiations. Ensuring that we have a clear understanding of negotiation dynamics empowers us to position your condo strategically in the market.

6️⃣ Step 6: Consider Additional Factors

The spreadsheet analysis also takes into account additional factors such as the closed date, view, market days, and unit condition. These elements greatly influence the desirability and marketability of your condo. By considering these factors, we ensure that your pricing strategy aligns with the unique characteristics of your property, enhancing its appeal to potential buyers.
The comprehensive spreadsheet analysis I have provided covers all six steps required to price your condo at 222 N Columbus #701 correctly. By utilizing this detailed analysis, you can rest assured that your condo is priced competitively and accurately to sell at the maximum price within the minimum time frame. Throughout the process, I will offer expert guidance and support, aiming to achieve a successful sale.  

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New Eastside Living

Ginger Menne
737 N. Michigan Ave, Suite 1800
Chicago, IL 60611

ginger@gingermenne.com
Tel (312) 927-0852
Off (312) 216-5887
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