Are you waiting for the perfect buyer to fall in love with your house? In today's market, patience isn't what sells a home—pricing is. If your house has been on the market for a while without much action, it's not because buyers aren't out there. It's likely because of how your home is priced.
The Market Has Shifted, and Pricing Needs to Shift With It
Home prices shot up dramatically a few years ago. Sellers could list their house at almost any price and get multiple offers over asking. But that's not the case anymore. The market has changed, and the key difference is that home prices have leveled off.
Today, the average list price isn't going up. This is a significant shift that many sellers haven't adjusted to yet. If you're expecting to get a higher price than your neighbor did last year, you could be setting yourself up for a long, frustrating experience.
Buyers today are much more sensitive to price. With more homes on the market, they can afford to be selective. If your house seems even slightly overpriced, they will simply move on to a different option. A price that's too high won't attract buyers; it will turn them away.
4 Red Flags That Your Price Might Be Too High
If your house is listed and you're not seeing results, the market is sending you a clear message. Look for these four common signs that your price may be too high:
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You're not getting many showings. If potential buyers aren't even coming to see your house, your price could be the reason.
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You haven’t received any offers or have only gotten lowball offers. This is a strong indicator that the market doesn’t agree with your asking price.
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Buyers who do see your house leave negative feedback about the price or value.
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Your home has been on the market for longer than the average for your area.
If any of these sound familiar, know that waiting it out won't solve the problem. Adjusting your price will.
The Solution: Price for Today's Market
Working with your agent to strategically price your home for today's market is the solution. It doesn't have to be a massive price drop; even a small adjustment can be enough to attract the right buyers.
While you may be concerned about not getting the top-dollar price you hoped for, remember the bigger picture: your home's value has likely increased significantly over the years. You're still in a winning position because of the equity you've built.
The Bottom Line
Patience isn't a strategy, but pricing is. If your home isn't selling, the market is telling you something. The right price can change everything and get your house sold.
Need help understanding the current market and pricing your home to sell? Let’s connect.
