Home sellers know their first few weeks on the market are more important than ever when it comes to getting the best price for your home. According to a recent Realtor.com report, the first four weeks after a home is listed are often the deciding factor in whether it sells near the asking price or requires a price reduction.
Realtor.com also found that homes that closed four weeks after being listed achieved sale to list price ratios 1.8 % higher than the average home sold that month. In contrast, homes that remained on the market for 18 weeks sold at ratios 1.3% below average. This shift reflects a broader change occurring in today’s housing market.
Unlike the pandemic-era, today’s buyers have more inventory to choose from, which comes with more room to be picky when purchasing. Realtor.com found that sellers who miss the initial four-week window can leave approximately 1.8% of a home’s value on the table, as price reductions become increasingly common the longer a property sits unsold.
Pricing a home accurately from the start using recent comparable sales, and working with local market experts can help generate immediate interest. Investing in professional photography, staging, and marketing before listing can also increase visibility during the critical first month. Most importantly, sellers should view the initial listing price as a strategic tool rather than a negotiating tactic, as today’s market rewards realistic pricing over aspirational pricing.
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