Home Sellers Shift Pricing Strategy

Home Sellers Shift Pricing Strategy; Economy Remains The Top Concern

Updated on October 6th, 2020

Home sellers this season are taking a more grounded approach to pricing than they did in the fall, as buyers grow more selective and less willing to overpay.
In a Redfin survey last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from our October survey. Thirty-two percent said they would price high, down from 34 percent.
“We’ve seen a shift in the right direction toward pricing in the middle range to better encourage multiple offers,” said Will Fassinger, a Redfin agent in Atlanta. “There’s always the fear of becoming a stale listing that scares buyers off or pricing so low that you don’t attract the right buyers. We advise sellers that we don’t have to negotiate a ton to get the preferred price.”

Pricing Strategy 2016

Economy and inventory are top concerns

General economic conditions continued to trouble sellers, with a third citing it as a top concern. Almost as many were worried about finding another house to buy, echoing the results of our October 2015 survey. A chronically low inventory of properties for sale has created a housing logjam.
“Even with surging home prices, listings were still down three percent in January from a year ago,” said Redfin chief economist Nela Richardson. “Sellers are worried that today’s buyers won’t pay enough for their current home to finance their next-level house.”


Price Optimism 

Sixty-seven percent of sellers think prices will increase a little in 2016.  Seven percent think home prices will increase a lot, only a slight change from our October survey. 


Sellers’ Sentiment

A greater share of survey respondents, 48 percent, said now is an OK time to sell in their neighborhood. Ten percent said now is a bad time to sell, down from 13 percent in our prior survey.


About the Survey

This survey was conducted January 17-27, 2016 with responses from 605 home sellers in 25 states.


Jon Whitely

Jon writes about real estate and works with journalists and agents across the country. He previously worked at an advertising and PR agency in Madison, helping the world understand why every pizza needs Wisconsin Cheese. His dream home would have a water slide in the master bedroom to make getting out of bed a splash. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.

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