The Risks of Pricing Your Home Too High

By Danae Aballi-Mecham

Danae Aballi-Mecham is a long-time real estate industry veteran. She has worked in various positions in the industry having grown from an independent real estate agent to running a team of 5 top producing agents.

Lately, a lot of sellers have asked me if they should price their home a little higher “just to see what happens.” The idea is to leave room for negotiation and maybe walk away with more money. While it might sound smart on the surface, that strategy can actually hurt your sale, especially in today’s market. Here are three reasons you shouldn’t overprice your listing:

The market is slowing down. Right now, we’re seeing fewer homes go under contract. In fact, we had 14% fewer sales this year compared to last year in Orange County. When you compare it to the three-year moving average before COVID, sales are actually down by 79%. This tells us that buyer activity has dropped over the years. However, there’s still little demand from buyers. Homes that aren’t priced right don’t get attention, and they often get skipped, which causes them to be listed for a long time.

Overpricing can hurt your sale. When your home first hits the market, that’s when it gets the most exposure. Sites like Zillow, Redfin, and Realtor.com push it out to buyers right away. But if the price looks too high, many buyers won’t even click on it. If your home sits too long without interest, you’ll likely have to drop the price, and this sends the wrong message to potential buyers. This is because they start to wonder what’s wrong with the property. The longer it sits, the harder it becomes to sell and often for less than you could’ve gotten by pricing it right from the start.

The right price brings stronger results. Homes priced correctly generate more interest. That means more showings, more buyers, and sometimes multiple offers. When buyers feel competition, they act faster and bid higher. This can lead to a final sale price that’s actually above asking and a faster closing. You’ll save time, reduce stress, and walk away with more.

Selling your home doesn’t need to be hard as long as you price your home accurately. If you’re thinking about selling and want a strategy that fits today’s market, you can call or text me at 949-216-8565 or email me at danae@danaeaballi.com. I’ll help you understand where your home stands, what buyers are looking for, and how to price it to get the best result