The 3-Step Formula to Price Your Home for Top Dollar

When you decide to sell your home, one question keeps you up at night: "How much is it actually worth?"

In a shifting market like we’re seeing across Utah in 2025, guessing is a dangerous game. Price it too high, and your home becomes "shopworn," sitting on the market while buyers wonder what’s wrong with it. Price it too low, and you leave thousands of dollars on the table.

To get top dollar, you need more than a "gut feeling" or a Zestimate. You need a strategy. In my latest video, I broke down the 3-Step Pricing Formula we use to ensure our clients win. Here is how you can apply that formula to sell your home with confidence.

Step 1: Analyze the "Sold" Comps (The Reality Check)

The first pillar of the formula is looking at Sold Comparables.

Many sellers make the mistake of looking at what their neighbors are asking for their homes. But a listing price is just a wish; a sold price is a fact. In the current Utah market—from the tech corridors of Lehi to the quiet streets of Springville—we are seeing a median sale-to-list ratio of approximately 99.1%. This means most homes are selling very close to, or slightly under, their asking price.

When we look at "comps," we look for homes that have closed in the last 90 days that match yours in:

• Square Footage: Within a 15% margin.

• Age and Style: A 1970s rambler doesn't compare to a 2024 new build.

• Location: We stay within your specific "micro-market" or neighborhood.

Why it matters: Sold prices tell us what appraisers will likely value the home at. If a buyer falls in love with your house but the appraisal comes in low, the deal could fall apart. We use sold data to "appraisal-proof" your sale from day one.

Step 2: Evaluate the Active Competition (The Buyer's Perspective)

Once we know what has sold, we have to look at who we are fighting against right now. Step two is analyzing Active Listings.

Think of it from the buyer’s perspective. If a buyer is looking in your price point, they are likely touring 4 or 5 homes this weekend. Your home is in a beauty pageant. If the house down the street has an updated kitchen and is priced at $550,000, and your home has original 90s finishes but is priced at $560,000, the buyer won't even schedule a showing.

In 2025, Utah inventory has stabilized. With more options available, buyers are becoming more selective. To get top dollar, your home needs to be the best value in its category. That doesn't always mean the lowest price—it means the best combination of price and condition.

Step 3: The "X-Factor" – Condition and Upgrades

The final step in the formula is the most subjective: Adjusting for Condition.

No two homes are identical. Even two houses with the same floor plan on the same street will have different values based on how they’ve been cared for. When applying the formula, we add or subtract value based on:

• Major Systems: Is the roof new? Has the HVAC been serviced?

• Cosmetic Appeal: Fresh paint, modern flooring, and professional staging can often return 2x to 3x their cost in the final sale price.

• Curb Appeal: First impressions happen at the driveway. In a market where the average "days on market" is roughly 35–45 days, a home that looks stunning from the curb sells significantly faster.

Pro Tip: Don't over-improve. Not every renovation adds 1:1 value. We help our clients identify the "high-ROI" fixes that actually move the needle for Utah buyers.

Why "Pricing it Right" is More Important Than Ever

In 2025, we are seeing a "Neutral Market" in Utah. It’s not the frenzy of 2021, but it’s certainly not a crash. It is a market that rewards precision.

Data shows that homes priced correctly from day one receive 3x more traffic in the first two weeks than homes that require a price drop later. When you price correctly, you create a sense of urgency. When you overprice, you give the power back to the buyer to negotiate you down.

Ready to See Your Home's Formula?

Stop guessing and start planning. Every neighborhood has its own rhythm, and your home deserves a custom strategy.  Contact me and go to my website loricollins.com