The High Cost of Overpricing Your Home in Today’s Market

💰 The High Cost of Overpricing Your Home in Today’s Market

It happens all the time.

A seller sees their neighbor list at $350K, figures their house is nicer, and decides to price at $375K.
The problem? The neighbor’s home sat for 73 days and sold for $330K.

Overpricing might feel like you’re “leaving room to negotiate,” but it usually leads to fewer showings, lower offers, and a longer time on market.

Let’s break down the real cost of aiming too high when it comes to listing price.

📉 1. Fewer Showings = Less Momentum

Buyers shop online first. If your home is priced above similar listings in Peoria, Morton, Washington, or Dunlap, it might not even make the “favorites” list.

That means:

Less foot traffic
Fewer offers
Stale listing = lower perceived value

In today’s fast-moving market, the first 7–10 days are your best window to attract serious, ready-to-write buyers.

💸 2. Price Reductions Raise Eyebrows

When a home sits too long, buyers start wondering:

“What’s wrong with it?”
“Why hasn’t it sold yet?”
“How low will they go?”

Even if your home is beautiful and well-maintained, an overpriced listing starts to carry baggage—and that perception hurts your negotiating power down the line.

🧠 3. You Can’t “Trick” the Market

Buyers (and their agents) do their homework. They compare:

Square footage
Updates
Lot size
School district
Recent sold comps

If your home is priced 10–15% over market value, they’re not going to make an offer—they’ll just move on. And if you’re lucky enough to get an offer, it might not appraise, killing your deal in underwriting.

🕰️ 4. The Longer It Sits, the Lower You Net

Let’s say you list at $375K instead of the recommended $349K.

You get:

1 showing the first week
Crickets after that
A $335K lowball offer on Day 42
Stress, frustration, and potential carrying costs (mortgage, taxes, insurance)

Meanwhile, had you priced at $349K, we might’ve gotten multiple offers in the first weekend and driven the price up organically.

Overpricing can actually cost you thousands in net proceeds.

✅ 5. Strategic Pricing = Stronger Results

Smart pricing isn’t about underselling—it’s about positioning your home to attract the most attention right away.

With the right:

Pricing strategy
Staging
Professional marketing
Local exposure

…you get more serious buyers through the door—and that’s what drives better offers.

Real Talk from an Agent Who’s Sold 1,000+ Homes

I’ve been doing this for over two decades in Central Illinois. I know this market inside and out.

My goal is never to undersell your home—it’s to get you top dollar by pricing it right the first time.

Let’s chat about what your home is really worth, and how to list it strategically.

📞 309-200-5480
🌐 CallDuvall.com

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