Is Your House Priced Too High?
4 Signs Your Asking Price is Too High and Turning Buyers Away
As a home seller, you want your house sold fast, for top dollar, and with minimal headaches. And chances are, you’re no different. But one of the biggest obstacles to selling your home quickly could be the price you set. Pricing your home correctly is one of the most crucial steps in the selling process.
How can you tell if your asking price is too high? Here are four key signs—and why working with your real estate agent is the best way to correct course.
1. You’re Not Getting Many Showings or Offers
If your home has been on the market for a few weeks with hardly any showings—or worse, zero offers—it’s a major red flag that buyers think your home is overpriced. Buyers are savvy and can quickly spot when a listing doesn’t align with comparable homes in the area. They won’t waste their time on a home that seems out of their price range or isn’t worth the asking price.
Pro Tip: Lean on your agent's market knowledge to adjust your strategy. Sometimes even a small price adjustment can bring in a wave of new interest.
2. Consistent Negative Feedback from Buyers After Showings
When showings do happen, the feedback buyers provide is incredibly valuable. If you’re consistently hearing negative comments about the price, that’s a sign something is off. Whether it’s a lack of upgrades or comparisons to other homes, you need to take that feedback seriously.
Your agent will collect and analyze this feedback and can suggest ways to improve your home’s appeal or reconsider your pricing strategy. Maybe it’s time for some fresh staging or minor upgrades, or perhaps a price adjustment is needed to match today’s market expectations.
"Based on all the data gathered, agents may make adjustments to the initial price recommendation. This could involve adjusting for market conditions, property uniqueness, or other factors that may impact the property’s value." – National Association of Realtors (NAR)
3. Your Home Has Been on the Market for Too Long
The longer your home sits on the market, the more buyers begin to wonder if something is wrong with it. A stale listing raises eyebrows and makes it harder to sell, especially in a competitive market with growing inventory.
If your home is lingering, check with your real estate agent about how long homes are typically staying on the market in your area. If your home is listed significantly longer than average, it’s a clear signal your price may need adjusting. Adjusting the price sooner rather than later could save you from the dreaded “why hasn’t it sold?” conversation with buyers.
"Check with your agent about the average number of days homes spend on the market in your area. If your listing has been up significantly longer than average, that may be a sign to reduce the price." – Bankrate
4. Neighbor’s Houses Are Selling Quickly
There’s nothing worse than watching a neighbor’s home sell in days, while yours remains on the market for weeks. If similar homes in your area are flying off the market, it’s a clear indication something about your listing—whether it’s price, condition, or location—isn’t stacking up.
Your agent will keep you informed about the competition and help you understand why your home isn’t generating the same interest. It could be something as simple as cosmetic upgrades, or it might be time to revisit your asking price to stay competitive.
My Final Thoughts: The Art and Science of Pricing Your Home
Pricing a home correctly isn’t just about throwing out a number. It’s both an art and a science, requiring a deep understanding of the current market, trends, and buyer psychology. If your home isn’t drawing in buyers, your real estate agent is your greatest resource for guidance on how to adjust.
Ready to get serious about selling your home? Let’s make sure you’re pricing it right for a quick and successful sale. If you’re thinking about selling—or know someone who is—reach out, and let’s start strategizing!
Source: Keeping Current Matters
If you have any questions, want to know what the current value of your home is, would like to book an appointment with me or are looking for some free real estate related educational reports; make sure to Check Out My Link tree
Search for your next dream home or find out the value of your current home on my website www.Realvolutionhomes.com
Dan McDevitt
Cummings & Company Realtors
Team Leader, Realvolution Homes Group
