The #1 Thing Seattle Sellers Need To Know About Their Asking Price

When you list your home for sale, the goal is to sell fast and for top dollar. However, many home sellers in today’s housing market are overpricing their homes without realizing how conditions have changed. With housing inventory increasing, the market is no longer as competitive as it was during the pandemic peak. As a result, price reductions are becoming more common—but they can often be avoided with the right pricing strategy from the start. Understanding how to price your home correctly is key to attracting buyers and maximizing your sale price in today’s real estate market.

According to the latest data from Realtor.com, February 2025 saw the highest number of home price reductions for any February since 2019. This trend highlights a significant shift in the housing market, as increased inventory and changing buyer behavior are leading more sellers to adjust their listing prices. If you’re planning to sell your home, understanding this data is crucial for setting a competitive price and avoiding costly markdowns (see graph below):

If you consider that 2019 was the last true normal year for the housing market – that’s a big deal. We’re getting back to what’s typical for the market.

Today’s real estate market is no longer the fast-paced seller’s market we experienced during the pandemic. Home prices have stabilized, and increased inventory has shifted the dynamics. As a result, sellers may not achieve the same record-high prices their neighbors did just a few years ago. Setting realistic expectations and pricing your home strategically is essential for attracting serious buyers and selling successfully in the current housing market.

Here’s the reality: overpricing your home can hurt your bottom line. If you list too high and later reduce the price, buyers may view your property as stale or overpriced, leading to fewer offers and lower final sale prices. To avoid this costly mistake, it’s crucial to work with a trusted real estate agent who understands current market trends and can help you price your home competitively from day one—maximizing buyer interest and ensuring a faster, more profitable sale.

How an Agent Helps You Nail the Right Price

A top real estate agent uses accurate market data and current housing trends—not guesswork—to determine your home’s true market value. By pricing your property based on up-to-date comps and local demand, they ensure your home is positioned to attract serious, qualified buyers. Strategic pricing from the start increases visibility, reduces time on the market, and helps you sell for top dollar in today’s competitive real estate landscape.

Based on your real estate agent’s in-depth analysis of the local housing market, they may recommend strategically pricing your home slightly below market value. This proven pricing strategy can boost visibility, generate more buyer interest, and lead to competitive offers—often resulting in a faster sale at or above asking price. Here’s how your agent will determine the right number for your house:

• They look at recent sales. What did similar homes in your area actually sell for? Not list for, sell for.
• They analyze local market trends. Your home’s value isn’t just about what you want for it, it’s about what buyers in your area are willing to pay.
• They craft the right strategy. They’ll make sure your home is priced to attract attention and create a sense of urgency among buyers.

Why Overpricing Backfires

Unfortunately, some sellers still ignore their agent’s advice and prefer to start high just to see what happens. The hope being maybe they get their full asking price, or they at least have more wiggle room for negotiation. But pricing high usually ends up costing you, and here’s why:

• Buyers may not even look at it. Today’s buyers are more budget-conscious than ever. If they see a home that seems overpriced, they’re likely to skip it completely rather than try to negotiate.
• It could sit on the market for too long. The longer your home sits unsold, the more buyers will assume something’s wrong with it. That can make it even harder to sell down the line.
• You might end up getting less. Homes that require a price cut often sell for less than they would have if they had been priced right from the start.

You can see that shake out in the graph below. It uses data from the National Association of Realtors (NAR) to show that the longer a house sits, the less it’ll sell for:

This graph demonstrates that homes sold within the first four weeks of listing typically fetch the full asking price. Based on industry experience, properties priced at or just below current market value tend to generate the most buyer interest. When priced correctly, your home will attract motivated buyers, leading to offers at the asking price or even competitive bids that drive the price above listing. This pricing strategy maximizes your chances of a fast, profitable sale in today’s real estate market.

If a home is overpriced, it won’t sell as quickly, and this graph highlights how the price begins to decrease after the first four weeks on the market. As a property lingers, buyer interest wanes, leading to fewer offers. Sellers may be forced to accept lower offers or reduce the price to regain attention. Pricing a home correctly from the start is crucial to avoid these scenarios and ensure a faster sale at the best possible price in today’s competitive real estate market.

Bottom Line

The worst thing you can do is overprice your home, let it sit on the market, and then have to lower the price to attract buyers. Avoid this pitfall by pricing your home right from the start. Contact us today to ensure your home sells quickly and at the best possible price.

Want to make sure your home sells quickly and for the best price? Let’s go over the right pricing strategy for your house.