Price is the most powerful marketing tool a seller has. Set it right and buyers compete. Set it too high and a home can sit until it feels stale. In New York City, where every block and building is different, the right price comes from reading comparable sales carefully.
Key takeaways
- Use recent closed sales, not asking prices.
- Adjust for size, condition, layout and location.
- Online estimates miss important details.
- Review pricing again if the market shifts.
Choosing comparables
- Closed in recent months
- Same neighborhood and ideally same block
- Similar size and unit count
- Similar condition
- Similar lot and outdoor space
- Arm’s length sales
Making adjustments
| Difference | Typical direction |
|---|---|
| Better condition | Adjust value up |
| Smaller size | Adjust value down |
| Outdoor space | Adjust value up |
| Busy street | Adjust value down |
| Extra legal unit | Adjust value up |
Where the data comes from
Recorded sales are public on ACRIS property records and property records through the NYC Department of Finance property. Local brokers add what records do not show: condition, layout and buyer demand.
The market does not pay for the price you hope for. It pays for the price the comparables support.
Getting a pricing review
Request a free pricing review with the Inquire button, or call 718-751-0738.
Frequently asked questions
Why not price high and negotiate?
Overpriced homes attract fewer buyers and often sell for less over time.
How many comparables are enough?
Usually three to six good ones.
Do you charge for a valuation?
A pricing review is free and confidential.
Helpful public resources
ACRIS property records | NYC Department of Finance property | ZoLa zoning map
Related reading
Mendy Realty Inc. is a licensed New York real estate brokerage and Court Approved Fiduciary Broker serving Brooklyn, Manhattan and New York City with residential, commercial, estate and hotel sales. Call 718-751-0738.
This article is general information about real estate and is not legal, tax or financial advice. Please consult your own attorney, accountant or financial advisor about your situation. Market conditions change; verify current details before making decisions. Equal Housing Opportunity.
