The Secret To Selling Your House in Today’s Market

The Secret To Selling Your House in Today’s Market

A few years ago, homes were selling rapidly with several offers coming in well above the list price. Sellers had the upper hand and could set nearly any price with buyers still eager to compete.

Today’s market looks different. With more homes available, buyers have become more particular. Properties are taking longer to sell, and many sellers are needing to reduce their asking prices.

So, how do you stay ahead in this market? It begins with one key move—pricing your home correctly from the beginning. In today’s environment, that decision can be the difference between selling successfully or missing out.

There’s a Real Price Disconnect Between Buyers and Sellers

A recent Realtor.com survey found that 81% of sellers expect to receive their asking price or more. But real market data paints a different picture, revealing a growing divide between seller expectations and buyer realities.

An annual report from the National Association of Realtors (NAR) shows that 44% of homes recently sold did so below asking price. Additionally, one-third of sellers had to reduce their price before finalizing the sale. This suggests that many pricing expectations may not align with today’s market.

Take a look at the graph below, based on Redfin data, which illustrates how asking prices (blue line) have increasingly outpaced actual sales prices (green line):

This reveals something essential: many buyers aren’t prepared to pay the prices some sellers are listing. That doesn’t mean a strong sale isn’t possible – but it does mean your initial price should reflect what buyers are actually offering in today’s conditions.

What Happens When You Overprice Your House?

Starting with a high price might seem like a good idea to leave room for negotiation. But in reality, pricing too high can lead to your home sitting unsold and losing buyer interest.

Buyers are informed. If a home stays on the market too long, they may suspect something’s wrong. This often results in fewer viewings, declining interest, and eventually a price drop to draw attention again. As Realtor.com points out:

“By getting the right price early on, you can increase the odds buyers will be interested in the home. In turn, this decreases the chances the home will sit on the market for a lengthier timeline, also reducing the odds you’ll need to lower the listing price.”

The more time a home spends on the market, the harder it becomes to attract a buyer.

You Still Have a Great Opportunity – If You Price Your House Right

To steer clear of this issue, it’s key to work with a knowledgeable local agent when setting your listing price.

They’ll assess recent area sales, buyer demand, and local inventory to find the right pricing strategy for your specific market—because every area is unique.

Also, it’s worth remembering that home prices have gone up over 57% in the last five years. So, even if you price slightly below what you hoped for, chances are you’ll still make a strong profit.

With guidance from a skilled local agent, you’ll capture more interest, avoid long market delays, and increase your chances of receiving a strong offer.

Today, setting the right price makes all the difference. As Mike Simonsen, Founder of Altos Research, says:

“. . . the best properties, well priced are selling quickly in most of the country.”

Bottom Line

While the market has shifted, the chance to make a successful sale is still very real. You just need a solid pricing strategy. Let’s review local price trends and determine the best listing price to help your home sell fast and for the best possible return.