Pricing Your Home When There’s New Construction Nearby
Two things quietly decide how a sale goes: how fast you respond, and how honestly you price. A listing we didn’t win taught us both — and it’s worth sharing if you’re thinking about pricing your home.
A potential seller reached out, said they weren’t quite ready, then called back urgently wanting to meet right away. My partner happened to be in the middle of dental surgery and missed the call. Before we could reconnect, the seller had already signed a listing agreement with another agent. They still invited us to view the home and share our opinion — and what we saw explained a lot.
The new-construction factor
The home was nice — but it sat right next to a brand-new multi-unit development full of competitively priced, move-in-ready inventory. That changes everything about how you price. Buyers comparing an older home to shiny new units next door will weigh condition, finishes, and price side by side. Ignore that competition and your home sits; account for it and you can still win.
How to price against newer inventory
- Price to the real competition, not to last year’s comps or what the neighbor “got.”
- Lean into what new construction can’t offer: mature trees, larger lots, character, location within the block.
- Invest in condition where it counts — paint, light, and staging close the gap with move-in-ready units.
- Be realistic early. The first two weeks on market are your strongest; an aspirational price wastes them.
The takeaway
Responsiveness wins the listing; honest pricing wins the sale. If there’s new construction near your home, the answer isn’t to pretend it doesn’t exist — it’s to price and position around it so buyers see the value only your home offers.
Wondering what your home should list at in today’s market? I’ll give you a straight answer — (415) 407-5324 or PrimaveraRealty.com. — Beatrice Kopilenko, REALTOR® · DRE #01970797