August 11, 2025

It feels like a contradiction- sales have slowed down, yet asking prices in some neighborhoods are still sky-high. The truth? A lot of sellers locked in ultra-low mortgage rates in 2020–2021 and have been hesitant to move. But now, many have outgrown their homes and are testing the market… the problem is that they’re often stuck in yesterday’s pricing mindset.

Sellers often are pricing their homes based on what they remember the market being like a couple of years ago (Remember the Covid-era real estate market? Bidding wars? Multiple, over-asking-price offers?), and they have in their mind that their home should sell for that same price now. But those sales closed in a completely different market. More homes are coming on the market now, which means more competition and less urgency from buyers. The result? Overpriced listings that sit… and sit.

Follow The Pending Sales

If you really want to know what your home might sell for, don’t look at what happened a year or two ago…look at the pending sales.

• Sold listings show what happened in the past.
• Pending listings show what’s happening right now.

Pending sales tell the real story of today’s pricing, and they’re often lower than the asking prices you see online.

If you’re thinking about selling, it’s time to price your home based on the current reality, not the past. The market has shifted, buyers are pickier, and overpriced homes just don’t move. Get your number right from the start, and you’ll save time, stress, and maybe even money.