What’s Happening To List Prices?? Why Are They Dropping?

Here’s why: Realtors and sellers have been too slow to pivot. Many are still

basing list prices on homes that closed six or more months ago. For the listings that are just sitting, chances are their prices are still tied to the previous market, not the one we’re in today.

We’re now in a very different market with far more homes available to buyers. And as inventory rises, prices naturally soften and days on market increase. That’s basic supply and demand.

Why Sellers Are Struggling

Aggressively adjusting the list price can be a tough pill to swallow, especially for sellers who watched similar homes sell quickly — and for more money — just six to twelve months ago. But here’s the truth: with more options available, buyers don’t feel pressure to act unless a home is priced too good to lose.

Mike’s Pro Tip — What Sellers Must Understand

When pricing your home, the key is to focus on active listings, not what has already sold. Active listings reveal what buyers are reacting to right now.If several homes in your neighborhood have been sitting for 20 days or more, that’s your signal … those list prices didn’t attract the right buyers. To sell faster, you must price ahead of the market, not chase it.

Stand Out, Don’t Blend In: Standing out means pricing slightly below the competition and staged better than the rest. That combination always wins, even in a shifting market.

Selling This Fall? Three Quick Tips Aside From Pricing

Read Mike’s 60 second blog to get three more valuable tips on how to win at selling this fall.

1. Light It UpShorter days mean darker showings. Use warm bulbs, open blinds, and add outdoor lighting that highlights the entry. First impressions hit harder when the sun sets early.

2. Yard Clean-Up MattersA tidy yard screams “well-maintained.” Keep leaves off walkways, clean gutters, and clear driveways. Bonus: it prevents drainage issues that freak buyers out during inspection.

3. Play the Season StrategicallyFall buyers tend to be serious, not curious. If your home shows well and is priced right, you’ll face less competition and stand out among stale listings.

Know someone thinking about selling this fall?I’d love to guide them through the unique challenges and opportunities of this market.

Sincerely,

Mike Wistrick