Waiting Won’t Sell Your Home — The Right Price Will.

Holding out for the perfect buyer to fall in love with your home? In today’s market, that’s likely not what’s causing the delay — and here’s why.

The reality is, homes are taking about a week longer to sell compared to this time last year.According to Realtor.com:

“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 that is because there are more homes on the market. So, with more options for buyers to choose from, they aren’t getting snatched up quite as fast. But there’s another big reason: price.

No Growth in List Prices? That’s a Sign Sellers Need to Watch

These days, many homeowners are aiming too high with their list price. They're thinking back to the rapid home price growth of a few years ago — without realizing just how much the market has shifted.

One key change that often goes unnoticed: average list prices have remained flat over the past few years.

That’s a major shift. In a typical market, home prices would rise gradually year after year. And it’s a stark contrast to the 2021–2022 frenzy, when sellers could price aggressively and still spark bidding wars well above asking.

But now? That trend has leveled off – and sellers who want to stay competitive need to take note (see graph below):

Here’s what this says about today’s market. Buyers are a lot more price sensitive now. And sellers can’t keep trying to inch the bar higher, or their house will sit without any offers.

Sellers aiming to exceed their neighbors’ last year’s prices may find themselves dealing with extended time on the market and added frustration.

And while homeowners are starting to realize prices can’t keep climbing at such a rapid pace, the hiccup is that list prices aren’t actually coming down yet as a result. They’re hanging around, holding steady. And sellers who make this mistake are often holding onto hope that they’ll be able to eek a few more dollars out of their sale. But that’s the problem right there.

If you want to sell today, you need to be in line with where the market is today. Not last year. Not during the pandemic. Today.

Because buyers will skip over homes that feel overpriced, even if it’s only by a little. It’s not that they aren’t interested. It’s just that in a market with more homes to choose from, buyers can be more selective, and sellers don’t get the same benefit of the doubt. If your house isn’t priced to sell, buyers just move on. They’ve got other options anyway.

4 Ways to Tell if Your Price Is Too Much

You might already be sensing it. If your home is on the market but not generating interest, keep an eye out for these common warning signs highlighted by Bankrate:

• Few showings or visits

• No offers, or only lowball offers

• Negative feedback from buyers who do tour your home

• Your property has been listed longer than the local average

If any of these hit close to home, remember: patience alone won’t solve the problem. A price adjustment is often the key to moving forward.

What’s the Best Way Forward?

Work closely with your agent to ensure your home is competitively positioned in today’s market. Depending on local conditions, a few weeks without much activity can make buyers question whether your price is realistic. But don’t worry—it doesn’t have to mean a drastic price cut. Often, a small adjustment is enough to attract the right buyers.

If you’re concerned about not getting the high price you initially hoped for, remember this: your home equity has likely grown significantly over time. Chances are, you’re still in a strong position, thanks to the investment you’ve made over the past 5, 10, or more years. Selling today can still be a win.

Key Takeaways:

Patience alone won’t sell your home — pricing will.

If your property isn’t attracting buyers, the market is sending a clear message. Setting the right price can make all the difference. When priced strategically, your home will sell.

Connect with your agent to understand what buyers are willing to pay today and ensure your home stands out for all the right reasons.