Still waiting for that perfect buyer to fall in love with your Triangle Area home? In today’s market, price may be the real issue, and here’s why. Homes are taking longer to sell. Realtor.com says:
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.”
A big reason is simple: there are more listings in Raleigh and the surrounding areas to choose from. With more options available, buyers aren’t rushing in. But that’s only part of the story. The bigger issue? Price.
The Average List Price Has Leveled Off
Some sellers today are aiming high, thinking their home will sell for top dollar because of past market trends. But things have changed.
One of the most overlooked market shifts is that average list prices have flattened. That’s a major difference from the steady price growth in a typical market, and a dramatic change from the 2021–2022 frenzy when bidding wars pushed prices above asking.
Today, that’s just not the case anymore (see graph below).
Buyers today are more price-aware than ever. In a market with more options, homes that are priced even slightly above market value can get overlooked. That doesn’t mean buyers aren’t interested; it just means they’re being more selective and intentional with their decisions.
Many sellers understand prices aren’t rising as quickly as they once were, but list prices haven’t fully adjusted to reflect that shift. Some homeowners are holding out, hoping to gain a little extra from their sale. But in today’s market, a well-informed strategy tends to work better than wishful thinking.
If you’re planning to sell your Raleigh home, it’s important to make sure your price aligns with today’s conditions, not last year’s highs or the peak of the pandemic market.
Buyers Won’t Wait Around
With more inventory available in the Triangle Area, buyers have options, and they’re taking their time to make the right choice. Even modest overpricing can cause a home to be passed over in favor of one that feels more in line with the current market value.
It’s not that buyers aren’t serious; they’re simply being more thoughtful. In today’s market, if a home’s price doesn’t match expectations, buyers are likely to keep looking—because they can.
4 Signs Your Price May Be Too High
Already on the market and not getting bites? These red flags, outlined by Bankrate, may be warning signs that your price is the problem:
- You’re getting very few showings
- You haven’t received any offers, or only lowball ones
- Feedback from buyers is overly negative
- Your listing has been active longer than the average for your area
If any of these sound familiar, patience won’t solve the issue, but a price correction might.
So, What’s the Fix?
Partner with Linda Craft Team Realtors to reassess your pricing strategy. Depending on the local market, even just a few weeks without movement can lead buyers to assume your price is unrealistic. The good news? You may not need a massive price cut. A small adjustment can make a big difference in getting the right buyers through the door.
And if you’re concerned about “losing” money by adjusting your price, remember your home equity has likely grown significantly. If you’ve owned your Raleigh home for five years or more, you’re probably still walking away with a strong return on your investment.
Bottom Line
Patience isn’t what sells homes; pricing is. If your Triangle Area home isn’t getting the attention it deserves, it may be time to revisit your pricing approach. With a competitive price, your home can stand out and attract serious buyers.
Contact Linda Craft Team Realtors to learn what buyers in Raleigh and the surrounding areas are looking for right now. A thoughtful pricing strategy could be the key to a smooth, successful sale.