Are you holding out for that “perfect” buyer to fall in love with your home? In today’s market, that’s usually not the reason your place isn’t selling.
Here’s what’s really happening.
Homes are sitting on the market a little longer than they did last year. Realtor.com explains:
“Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”
Part of the slowdown is because more homes are available, giving buyers more choices. But the bigger factor is price.
List Prices Have Flattened Out
Many homeowners are still reaching too high with their asking price. They remember the frenzy of 2021–2022, when nearly any price tag could attract multiple offers. But today’s market is different.
Average list prices haven’t been climbing the way they used to. Instead, they’ve stayed relatively flat for the past few years. That’s a sharp contrast from the steady appreciation we saw in the past and the rapid spike during the pandemic.
Take a look at the graph below:
This shows why today’s buyers are far more sensitive to price. Sellers who push the envelope—even slightly—risk sitting on the market with no serious interest.
Holding out for more than your neighbor got last year can lead to weeks or months of frustration. And while prices aren’t dropping, they aren’t rising either. Hoping to squeeze out “just a little more” is what keeps many homes stuck without offers.
How to Tell If Your Price Is Too High
If your home is listed and not getting traction, you might already be seeing the signs. According to Bankrate, these red flags often point to an overpriced home:
-
Few or no showings
-
No offers, or only lowball offers
-
Negative feedback from buyers who tour the home
-
Days on market piling up compared to other homes nearby
If any of these sound familiar, time won’t fix the issue. A price adjustment will.
What to Do Instead
The best move is to work with your agent to position your home competitively. In today’s market, even a couple of weeks without activity can make buyers question your price. The good news? It doesn’t usually take a huge reduction to spark new interest—sometimes a small shift is enough to get the right buyers through the door.
And remember: even if you don’t sell at the “dream price” you had in mind, chances are your equity has grown a lot over the past several years. Owning a home has already put you ahead, and selling today still puts you in a strong position.
Bottom Line
Waiting around isn’t a strategy. Pricing smart is.
If your home isn’t selling, the market is sending you a message. The right price will change the outcome. Talk with your agent about what buyers are paying right now so your home stands out and sells.
