Why Getting the Price Right Matters More Than Ever

When you’re ready to sell your home, setting the right price isn’t just important — it’s critical. In today’s market, overpricing can backfire fast, and it could cost you more than just offers — it might cost you the move you’ve been planning.

The Pitfall of Overpricing

Many sellers look at what their neighbor’s home sold for a few years ago and want to chase that same number. But the truth is, that was a different market.

Today, there’s more inventory and less competition among buyers. Bidding wars have cooled, and buyers are more selective, often offering at or below the asking price. As Lisa Sturtevant, Chief Economist at Bright MLS, explains:

“Buyers will have more leverage in many, but not all, markets. Sellers will need to adjust price expectations to reflect the transitioning market.”

That means if your listing price is too high, buyers won’t stretch to meet it — they’ll simply move on.

You Still Have an Advantage

Here’s the silver lining: according to the Federal Housing Finance Agency (FHFA), home values are still up 54% over the past five years. Even if you price slightly below your dream number, you’ll likely walk away with significant equity gains.

The key is mindset — understanding that your home’s value today isn’t about what it could have sold for during the peak frenzy, but what it can sell for now to help you move forward.