Pricing a home in Los Angeles follows three primary strategies used by experienced real estate professionals. In neighborhoods like Miracle Mile, rarity and character must be considered.
3 Proven Pricing Strategies for the LA Market
1. Aspirational Pricing
Listing above market value for unique properties like 1920s Spanish Revivals in Miracle Mile.
2. Market Perception Pricing
Pricing where the market responds today based on informed buyer research.
3. Event Pricing Strategy
Pricing 5-10% below market value to create a multiple-offer situation.
The 10 and 0 Rule: If you have 10 days with 0 showings, or 10 showings with 0 offers, your price is the problem.
Pricing Historic Homes in Miracle Mile
Homes in the Miracle Mile neighborhood are unique because many were built during the 1920s and 1930s. Pricing here requires a balance of market data and "character value."
