It is completely natural to want to test the high end of the market when selling your home. However, pricing a property above fair market value is one of the quickest ways to stall momentum.
The Dangers of an Inflated List Price
Appraisal Hurdles: Even if an overly optimistic buyer is willing to pay above market value, the lender’s independent appraiser may disagree, causing financing complications down the line.
Chasing the Market: When a home is overpriced, it sits on the market longer, gathering “days on market” stigma. You often end up making multiple price reductions, eventually selling for less than you would have if it were priced correctly from day one.
Loss of Initial Buyer Momentum: The first 14 days on the market generate the highest volume of buyer interest and agent showings. An inflated price deters serious buyers right out of the gate.
