Comps are tricky in many areas of Peoria where like for like homes have not sold in the last 12 months since we've experienced the large upward swing. Keep in mind one thing you really have going for you as a seller- inventory is extremely low and it is an extreme sellers market, with properties that have been remodeled and show well being the cream of the crop.
If you are working with an agent, ask them to also pull active listings in your subdivision and see how other homes are faring. How are they priced compared to what you would like to put it up for? Are they sitting there with little to no showings? How do they compare to the homes that have recently closed for days on market? Rather than looking at exact comps, look at nearby properties with similar upgrades and see what they are selling for in terms of price per square foot.
And here is the bottom line. It's difficult to "overcharge" someone unless they are paying cash with no appraisal. If you're bottom line is too "pie in the sky" the market will quickly tell you that. Either by no activity or offers, or by an appraisal coming in low, in which case the buyer probably want to renegotiate price. However, while the market is exciting right now, and it's a great time to be a seller, it's also important to be realistic. If your bottom line isn't within a range that an agent can give you, then perhaps you need to wait until prices recover a bit more. At the same time, there's nothing wrong with pitching a little high to test the market and then lower accordingly. Much of it depends on your personal reasons for selling and how much you need or want to sell.
On a closing note, remodeled kitchen and basement models are hot selling items and are getting top dollar assuming they have been done well. I wouldn't be too scared off by a lack of recent comps for your model. Assuming your starting price is within range, get it listed and the market and negotiations will take care of the rest.
Good luck and we are happy to help, Peoria is our home and we love it and know it well!
Realty ONE Group