Setting a price for your home can be very scary, too low and you’ve lost money, too high and you might not be able to sell at all. If you’re selling your home yourself you can do a little research to get an idea of what kind of price tag to put on your home.

Supply and demand have a great deal to do with the value of your home. If you live in an area that is quickly growing, then you might just be able to get more out of your home than it’s actually worth. At the very least good location will get you top dollar.

While you might not be looking to buy in your surrounding neighborhood, you should still check out all of the homes for sale. Try to look at homes that are similar in size, age and style to yours to get an idea of what other’s are asking. The size of the property should also be similar to yours.

Usually you’ll only want to compare the homes that are within a half mile radius of your property. The value of real estate can be very fickle, sometimes a home that is just on the other side of the street can vary by thousands of dollars in value. 

Research the selling prices of at least three comparable homes if you can. If your area is a buyers market, meaning there are lot’s of homes for sale. Price your home near the average selling price of the other homes. If you are living in a sellers market area, which simply means there are more potential buyers than sellers, you might just get a better than expected price for your home.

A balanced market is one that has similar supply and demand. In this market state you’re more likely to get closer to your homes actual value. If you don’t have to move at a certain time, you might just want to hold out until the market is more in your favor.