Hoping the perfect buyer will come along and instantly fall in love with your home? These days, that’s rarely the real reason your sale might be delayed. Here’s the reason why.

Let's face it—homes are staying on the market about a week longer than they were a year ago. Realtor.com points out this trend clearly.

““Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”
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— Realtor.com

Part of the reason is that there are simply more homes available right now. With so many choices, buyers aren't rushing to grab them as quickly. But another important factor is price.

 The Average List Price Isn’t Going Up – and That Matters

Nowadays, many homeowners are pricing their homes too high. They think back to the rapid rise in home prices a few years ago and don’t realize how much the market has shifted since then.

One key trend that many people miss is that average list prices have basically stayed the same over the last few years.

That’s quite a change from usual, when prices kept climbing year after year. It’s also a lot different from the 2021-2022 boom, when sellers could basically pick any price they wanted and still get multiple offers above asking.

But now, that trend has flattened out, so sellers who want to stay competitive should pay attention (see graph below):

Today’s market shows that buyers are much more careful about price. Sellers need to avoid pushing their asking price too high, or they risk having their home sit on the market without any offers.

Homeowners hoping to earn more than their neighbors did last year might be in for a longer and more frustrating selling process.

Homeowners are beginning to understand that prices can't keep rising so quickly. The catch is, list prices haven’t dropped yet—they’re staying pretty steady. Sellers who hold onto the hope of squeezing a bit more money out of their sale are often making a mistake. That’s exactly where the problem lies.

If you're planning to sell today, you’ve got to match your approach to the current market—not what it was last year or during the pandemic, but right now.

Buyers tend to pass on homes that seem even slightly overpriced. It’s not that they’re not interested, but when there are plenty of choices out there, they can afford to be picky. Sellers don’t get as much leeway, so if your home isn’t priced right, buyers will just keep looking—they have plenty of other options.

4 Signs Your Price May Be Too High

If your home is on the market but you're not seeing any offers, you might be noticing some warning signs. Here are a few common red flags that Bankrate points out to keep an eye on:

1. Hardly anyone’s coming to see your home.

2. Offers aren’t rolling in—or the ones you do get are way below what you were hoping for.

3. The few buyers who do tour your place leave feedback that feels more negative than helpful.

4. Your home’s been on the market longer than most in your neighborhood.

If any of these situations feel familiar, just know that waiting won’t solve the problem. The key is to adjust your price.

So, What’s the Solution?

Team up with your agent to ensure your home is perfectly set for today’s market. Since every local area is different, going a few weeks without much interest might make buyers wonder if your price is on point. But don’t stress—adjusting your price doesn’t have to mean a big cut. Sometimes, just a small tweak is enough to attract the right buyers and get your home moving.

If you’re concerned about not getting the high sale price you expected, remember that your equity has likely increased a lot. Most likely, you’re still coming out ahead because you invested in a home five, ten, or more years ago. Selling now means you’re still in a winning position.

Bottom Line

Waiting it out won’t get the job done—setting the right price will.

If your home isn’t selling, the market is giving you a clear message – and setting the right price can make all the difference. Price your house smartly, and it will sell.

Chat with your agent about what buyers are currently willing to pay so your home catches attention for all the right reasons.