The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. Your agent will provide you with a Comparative Market Analysis (CMA). The CMA will reflect the following:
*current inventory of houses, similar in size and features, in your area with their list price;
*houses, similar in size and features, in your area that have sold within the last six months;
*houses, similar in size and features, in your area that have not sold within the last six months.
The CMA will reflect the difference between the list price and sell price for all houses sold and the condition of the market.

Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. And understand and set your price to reflect the current market situation.