Pricing missteps cost sellers at closing

Homes that linger on the market for 18 weeks close 1.3 percentage points below asking, compared to 1.8 points above for those sold near week four, according to a Realtor.com analysis of national listing performance.

The first month on the market is no longer the listing warmup. It’s the pricing test.

A new Realtor.com® report found that early activity can be a key test for sellers, especially in Florida markets where buyers have more homes to choose from than they did during the pandemic rush.

Realtor.com found that homes closing around the four-week mark sell for 1.8 percentage points more relative to asking price than the average comparable home sold during the same period nationally. Homes that sit for 18 weeks, however, close 1.3 percentage points below expectations.

Translation: the market usually speaks pretty quickly. Sometimes politely. Sometimes with a clipboard and a price reduction form.