The Secret To Selling Your House in Today’s Market

The Secret To Selling Your House in Today’s Market

A few years back, homes were selling quickly with multiple offers, often well above the asking price. Sellers had the upper hand and could set ambitious prices with confident expectations.

But the housing market has shifted. With more listings available, buyers are being more selective. Homes are staying on the market longer, and more price reductions are happening.

So, how can sellers stay competitive? It all begins with setting the right price from the very beginning. In today’s market, that decision is more critical than ever and can determine the success of a sale.

There’s a Real Price Disconnect Between Buyers and Sellers

A recent Realtor.com survey found that 81% of home sellers expect to receive their asking price or higher. However, actual market data shows a growing divide between seller expectations and buyer willingness.

According to a yearly report from the National Association of Realtors (NAR), 44% of homes sold recently closed below their asking price. Additionally, one-third of sellers had to reduce their asking price at least once to finalize a sale. This indicates that many sellers' expectations may not align with today’s market conditions.

The graph below, based on Redfin data, highlights the widening gap between list prices (blue line) and final sales prices (green line):

This highlights something key: many buyers aren’t willing to pay the prices some sellers are asking. That doesn’t mean you can’t get a great return—it just means your starting price should align with what buyers are actually prepared to spend in today’s market.

What Happens When You Overprice Your House?

It might seem like pricing your home high gives you room to negotiate, but in reality, starting too high can cause it to linger on the market and push buyers away.

Today’s buyers are well-informed. If a home stays listed too long, they may assume something is wrong with it. This can result in reduced interest, fewer showings, and eventually a price cut to draw attention. As Realtor.com notes:

“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 your home stays on the market, the more challenging it becomes to sell.

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

To avoid overpricing, it’s essential to work with an agent who understands your local market and can help set a realistic price.

They’ll assess recent sales, buyer activity, and available inventory to find the right price for your area—because every market is different.

Also, keep in mind that home values have risen over 57% in the past five years. So even if you set your price slightly under your initial goal, you’re still likely in a strong position profit-wise.

With expert guidance, you’ll boost visibility, reduce time on the market, and improve your odds of receiving a competitive offer.

Today, pricing smart makes all the difference. As Mike Simonsen, Founder of Altos Research, puts it:

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

Bottom Line

While the market has evolved, the chance to sell remains strong. What you need is the right pricing strategy. Let’s take a closer look at current local trends and figure out the ideal price to help your home sell fast and for top value.