Overpricing Your Home Is an Invitation to Your Worst Enemy: Days on Market

Overpricing Your Home Is an Invitation to Your Worst Enemy: Days on Market

A huge challenge for sellers is watching their days on market climb. While market conditions do matter, it isn't always the reason your home isn't getting many showings or offers. In many cases, overpricing a home can cost more than pricing it correctly from the start. 

When Does It Matter The Most?

The most critical time when selling your home is the first two weeks on the market. During this time, traction and feedback will help determine whether a home is priced appropriately. If a home is priced too high, it may receive little to no showings, making early adjustments more difficult.

When buyers search for homes online, they often question why a property hasn’t sold. Even if a home is in excellent condition, increased days on market can cause buyers to assume something is wrong. As days on market increase, buyers may feel they have the upper hand, which can lead to lower offers or fewer negotiations in the seller’s favor.

Pricing Based on Data, Not Emotions

When pricing your home, decisions should be based on market data, not just what a seller hopes to net. Reviewing recent sales, current competition, and buyer behavior can help determine a strategic price that attracts interest and leads to stronger offers. First impressions matter in real estate, and pricing your home correctly the first time helps sellers stay competitive.