The #1 Thing Sellers Need to Understand About Pricing Their Home

When you list your home, it’s only natural to want it to sell quickly and at the highest possible price. That’s the ideal outcome for most sellers. But in today’s housing market, many homeowners are setting their asking prices too high — without realizing how much the market has shifted.

As more homes become available, competition increases. And one of the biggest side effects of that shift? We’re seeing more price reductions across the country. But here’s the truth: those price drops are often avoidable with the right approach from the beginning.

📊 Recent data from Realtor.com shows February saw the highest percentage of price reductions for that month since 2019. That’s notable, considering 2019 was considered a more balanced, pre-pandemic market. In other words, things are returning to more typical conditions — and pricing strategies need to reflect that.

This Isn’t 2021 Anymore

The ultra-competitive seller’s market of the pandemic years has cooled off. Today’s buyers aren’t scrambling to outbid each other on every listing. So if you're expecting to get the same number your neighbor got a few years ago, it might be time to reset your expectations.

Here's the hard truth: if you overprice your home and end up reducing it later, you might actually net less than if you'd priced it accurately from the start.

Why the Right Price from the Start Matters

That’s where a trusted real estate agent makes all the difference. An experienced agent isn’t going to guess at a number. They’ll study the latest data and trends to help you price your home according to today’s market — not last year’s.

In fact, some agents may even suggest pricing slightly below market value to generate more interest and potentially spark multiple offers. Here’s what goes into finding that sweet spot:

• Recent sales data – What are comparable homes in your area actually selling for?

• Current local trends – What are buyers currently willing to pay in your neighborhood?

• Strategic planning – How can we position your home to stand out and create urgency?

What Happens When You Price Too High

While some sellers prefer to "test the waters" with a higher price and adjust later if needed, this strategy often backfires:

• Buyers skip overpriced listings – Many won’t even bother scheduling a showing if a home is clearly over market value.

• Homes linger on the market – The longer your property sits unsold, the more buyers start to wonder what’s wrong with it.

• You may end up settling for less – Statistics show that homes requiring price reductions often sell for below their final list price.

📉 Data from the National Association of Realtors (NAR) shows homes that sell within the first few weeks typically receive closer to their asking price. After that, the likelihood of a price drop — and lower final sale — goes up.

Bottom Line

Pricing your home correctly from the start can make all the difference in how fast it sells and how much you ultimately walk away with. An inflated price may sound appealing at first, but it can turn into a missed opportunity.

Let’s work together to set a price that reflects the current market, attracts serious buyers, and helps you reach your selling goals.

Ready to get started? Let’s talk strategy — and make sure your home is priced to sell.