As we head into the 2026 Spring Selling Season and have an over abundance of inventory, we need to discuss the costs of overpricing.
- Reflects the declining home values.
- (A balancing of the inflated market values from 2021, 2022 and 2023.)
- A Seller wants to “leave room to negotiate” and thus sets a Higher Asking Price.
- Market interest peaks within the first week of being on the market.
- Newly Added Listings drowned out “older properties”.
- Salable Price of the Property is impacted by declining market values, the “staleness” of the property, and new competition coming on the market daily.
- Small reductions and price adjustments chase the market down.
- The Property finally sells when the Buyer sees a very attractive price. (In addition to concessions).
- The total cost of overpricing in a Shifting Market.
So how do you effectively sell in this shifted market?
Decide if you really want to/ need to sell; because in order to effectively sell, you’re going to have to be very competitive.
- Jump Start your home sale, with an initial deep cleaning, beautiful staging, and stunning photographs.
- Price at the lower end of the market.
- Decide if you can live with the offer you get. Or reject it.
If Buyer interest isn’t captured within the first couple weeks, you’re likely going to sit on the market for several weeks, price reduction after price reduction.
It is better to have two offers at your opening asking price, within a week on the market, than never get a single offer 6 months down the road. No one wants to actively “sell” for that long.
Would you agree it’s better to have an offer to reject, than no offers at all?
Again, maybe this market isn’t the right time for you to sell, but if it is, let’s be successful with it.