Want to Sell Faster? Focus on Pricing, Not Patience

Thinking the right buyer just needs to “fall in love” with your house? In today’s real estate market, that’s rarely the issue.

Homes Are Sitting Longer

On average, homes are taking longer to sell than they did a year ago. Realtor.com reports that the typical home spent about 60 days on the market this August—a full week longer than last year and higher than what we saw before the pandemic. This marks the 17th month in a row where homes are spending more time waiting for a buyer.

One big factor? Inventory. With more listings available, buyers can be pickier. But the real game-changer is pricing.

The Shift in List Prices

Many sellers are still pricing their homes as if the boom from a few years ago is ongoing. The reality is, average list prices have stayed steady for the last couple of years. That’s very different from the sharp price increases of 2021–2022, when sellers could list high and still spark bidding wars.

Today, overpricing can backfire. Buyers compare your home to others in the same price range, and if yours feels even slightly overpriced, they’ll move on. More options mean less urgency—and less room for error.

4 Signs You May Be Overpriced

If your home has been on the market and isn’t selling, Bankrate notes a few red flags to watch for:

• Few showings (or none at all)

• No offers, or only lowball ones

• Buyers give negative feedback after viewing

• Your home has been listed longer than the neighborhood average

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If these sound familiar, lowering the price could be the key. Simply waiting longer won’t solve it.

The Fix: Adjust, Don’t Wait

The good news is you don’t always need a major price cut. Even a small adjustment can make your listing stand out and attract the right buyers. Your real estate agent can help position your home competitively based on today’s market conditions.

And if you’re worried about missing out on the “big number” you hoped for, remember this: most homeowners have built significant equity over the years. Even if you sell for less than your dream price, you’re likely still coming out ahead financially.

Bottom Line

Patience won’t sell your home—pricing it right will. If your house isn’t getting traction, the market is sending you a clear message. Work with your agent to set a price that reflects current buyer behavior, and you’ll put yourself in the best position to sell.