Not long ago, homes were flying off the market, often with multiple offers and final sales prices well above asking. Sellers had the upper hand and could almost name their price. But the market has shifted. With more inventory available, today's buyers are taking their time and becoming more selective. Homes are sitting longer, and many sellers are realizing they may need to rethink their pricing strategy—or even make a reduction—to attract serious interest. So, how do you stay competitive and come out ahead in today’s market?
It all starts with one key strategy: pricing your home correctly from the very beginning.
There’s a Real Price Disconnect Between Buyers and Sellers
A recent survey from Realtor.com shows 81% of home sellers believe they’ll get their asking price or more. But the actual sales data shows there’s a growing gap between what sellers expect and what buyers are actually willing to pay.
In fact, an annual report from the National Association of Realtors (NAR) reveals that 44% of recently sold homes went for less than the asking price—and 1 in 3 sellers had to cut their price at least once before their home sold. That’s a clear sign that seller expectations may be out of step with today’s reality.
Check out the graph below. It uses data from Redfin to show that asking prices (blue line) are higher than actual sales prices (green line) by a wider and wider margin:
This tells you something important: not all buyers are willing to pay what many sellers are asking. That doesn’t mean you can’t sell for a great price – but it does mean you need to start with a price that reflects what people are willing to pay in today’s market.
What Happens When You Overprice Your Home?
Pricing your house high initially may seem like a smart move, so you have more room to negotiate. But the reality is, an overpriced home can sit on the market and turn buyers away.
Buyers are smart. And when they see a house that’s been sitting for a while, they start to wonder what’s wrong with it. That can lead to fewer showings, less interest, and eventually, a price cut to re-ignite attention. As Realtor.com explains:
“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 longer a house sits, the harder it can become to sell.
You Still Have a Great Opportunity—If You Price It Right
To avoid that pitfall, it’s important to work with a real estate team that understands the local market. The Lonestar Living Team will analyze recent sales, current inventory, and buyer trends to help you determine a competitive listing price that positions your home to attract strong interest from day one.
And don’t forget—home values have increased more than 57% over the past five years. Even if your list price ends up slightly below your original expectations, you’re still likely to walk away with a solid profit. With the guidance of the Lonestar Living Team, you’ll have the local expertise, marketing strategy, and pricing insight needed to draw serious buyers and increase your chances of receiving a strong offer.
As Mike Simonsen, Founder of Altos Research, puts it:
“. . . the best properties, well priced are selling quickly in most of the country.”
The housing market may have changed, but your opportunity to sell hasn’t. With the right pricing strategy and the support of the Lonestar Living Team, you can position your home to sell quickly and for top dollar. Let’s connect and take a look at what’s happening in your neighborhood—we’re here to help you make the most of your sale from start to finish!
