Are expired listings useful when a seller is trying to determine a listing price? Sure they are!
The main thing an expired listing will tell a seller is what a house or condo is not worth!
If a property has been on the market a reasonable time (90+ days) and has not sold and the listing has expired, it is obvious what the price is not!
Recent sales in your neighborhood will tell a seller what is selling and for how much. This is the market speaking, listen!
Of course there are other factors to consider when pricing like condition, updates, lot size, view (or not), type of sale, etc. however remember there is a price ceiling in all neighborhoods regardless. Who wants to buy the largest, highest priced home in any neighborhood?
An understanding of the properties under contract awaiting closing will also give a clue as to price points that bring offers.
In establishing your listing price a seller must look to active, pending, sold and expired listings to get a clear picture of the neighborhood market.
If you are considering selling your Viera or Rockledge, Florida, house or condo, call me directly to discuss pricing strategies. I can be reached directly at 321-693-3850 or by email.