The Importance of Pricing Your Home Right in Today’s Market
Just a few years ago, selling a home felt like hitting the jackpot. Homes were flying off the market with multiple offers — often well above the asking price. Sellers had the upper hand and could often name their price and they would just about get it. But times have changed with different market conditions upon us.
Today’s housing market is more balanced. Inventory has grown, and buyers are becoming increasingly selective. Homes are sitting longer, and price cuts are becoming more common. So, what’s the key to selling successfully in this environment? Pricing your home correctly from the start in this changing market.
The Disconnect Between Seller Expectations and Buyer Reality
A recent survey from Realtor.com reveals that 81% of sellers still believe they’ll get their full asking price or more. But the data tells a different story. According to the National Association of Realtors (NAR), 44% of recently sold homes went for less than asking. In fact, about one in three sellers had to reduce their price before the home was sold. This gap between expectations and reality can make or break a sale.
Why Overpricing Can Backfire
It’s tempting to start high, thinking you can always negotiate down. But an overpriced home can sit on the market too long, causing buyers to question what’s wrong with it. Fewer showings and reduced interest often lead to price cuts — and possibly a lower final sale price than if it had been priced right from the start. As Realtor.com puts it, “By getting the right price early on, you can increase the odds buyers will be interested in the home.” Why? Because you only get one chance to make a great first impression.
Smart Pricing = Better Results
Working with a knowledgeable local real estate agent such as myself is your best bet. They’ll analyze recent sales, current trends, and neighborhood inventory to help you arrive at a competitive price. Even if you list a bit below your dream number, consider this: home values have jumped over 57% in the past five years. You’re likely still positioned to make a strong profit.
In the end the market has shifted, but your chance to sell hasn’t. Price your home strategically, and you’ll increase your chances of attracting buyers and securing a strong offer. Contact me today and let’s get started!
