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When the real estate market shifts—like we’re seeing now in St. Louis County—home pricing gets trickier. If you’re thinking about selling, avoid these 5 common pricing mistakes that could cost you time, money, and serious buyer interest:
- Pricing Based on Emotion, Not Data
Just because you love your home doesn’t mean the market will pay top dollar for it. Buyers compare your home to others on the market, not your memories.
What to do: Use current, hyperlocal comps. Not Zillow guesses. Not last year’s sale down the street.
- Starting High “Just to See What Happens”
That strategy worked in 2021. In today’s market? It gets your listing ignored, stale, and eventually price-reduced—usually below where it should’ve been priced in the first place.
What to do: Price competitively upfront to attract multiple offers and shorten time on market.
- Ignoring Market Momentum
If homes in your area are sitting longer or selling below list, buyers will notice—and hesitate.
What to do: Pay attention to trends like average days on market and median list-to-sale price ratio. Your agent should guide you here (I do this weekly).
- Overpricing Because of Renovations
Yes, that new kitchen was $30K. But if buyers don’t value it the same way—or if comparable homes don’t support that bump—you’ve just priced yourself out of competition.
What to do: Renovations should help you stand out, not force you to overcharge.
- Refusing to Adjust Quickly
Holding firm on price while the market moves is a mistake. Real estate isn’t static. A price that worked in May might not work in August.
What to do: Listen to market feedback fast. If showings slow down or offers stall, don’t wait weeks to adjust.
Final Take:
Price is your #1 marketing tool. If you don’t nail it from day one, you lose traction—and in a shifting market, that’s risky.
Want a custom pricing strategy backed by current data?
Let’s talk—DM me or schedule a no-pressure consult.
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