Just a few years ago, homes were being snapped up at lightning speed, often fetching multiple offers well above asking price. Sellers enjoyed a whirlwind market where it seemed you could name your price and still have buyers vying for your home.

Now, the market has transitioned. Buyers are more discerning as inventory grows, and homes are taking a bit more time to sell. While this shift might sound concerning, it actually presents a golden opportunity for sellers who approach pricing strategically from the beginning.

The Power of Getting the Price Right From Day One

In today's market, pricing your home correctly from the start is more important than ever. It can be the difference between a quick sale and a lingering listing. When you price your home in line with the market, you create momentum, generate interest, and attract serious buyers.

Recent findings from Realtor.com show that 81% of sellers believe they’ll receive their asking price or more. However, sales data reveals a growing gap between seller expectations and buyer behavior. In fact, the National Association of Realtors (NAR) reports that 44% of recently sold homes closed for less than their listing price, and one-third of sellers had to reduce their price at least once before selling.

Redfin data further highlights this trend, showing a widening gap between asking prices and actual sales prices. This signals that while buyers are still purchasing homes, they’re doing so with greater care and caution. Sellers who price with today’s market in mind are the ones who continue to achieve great results.

Why Overpricing Can Work Against You

Some sellers believe starting with a higher price gives them room to negotiate, but this tactic can often backfire. When a home is priced too high, it may sit on the market longer, causing potential buyers to wonder what’s wrong with it.

Savvy buyers recognize when a listing has lingered, which can reduce interest, lead to fewer showings, and even trigger price reductions. As Realtor.com puts it:

“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.”

When a home sits too long, it becomes harder to sell without a price cut. But with the right pricing strategy, you can avoid that scenario altogether.'

You’re Still in a Strong Position – with Smart Pricing

The good news? Sellers who price their homes strategically are still in a fantastic position. That’s why partnering with a local real estate expert is crucial. Your agent will evaluate recent sales, local market trends, and current inventory to help you land on the ideal price for your neighborhood.

And it’s worth noting—home values have appreciated significantly over the past few years. Prices have risen more than 57% in the last five years alone. That means even if you price your home slightly below your original expectations, you’re still likely to walk away with a strong return.

With a smart pricing strategy guided by a local expert, you’ll attract more attention from buyers, minimize time on market, and maximize your final sale price.

As Mike Simonsen, Founder of Altos Research, explains:

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

Bottom Line

While the housing market has adjusted, your chance to sell successfully is still very much alive. The secret lies in setting the right price from the start. By working with a knowledgeable real estate agent who understands your local market, you can create a winning pricing strategy that leads to a faster sale and a great outcome.

For personalized guidance and to ensure your home is priced to succeed, reach out to Mike Panza and the team at Panza Home Group. They’re here to help you navigate this market with confidence and clarity. Contact them today: https://panzarealestate.com/team/mike-panza