When it comes to selling your home, pricing it right from the start is crucial. The latest data from the National Association of REALTORS® (NAR) shows just how costly it can be to let your home sit on the market too long.
According to NAR’s recent analysis, homes that sell quickly—within the first two weeks—typically sell for about 4.9% less than their original list price. But the longer a home sits, the deeper those price cuts get.
Here’s how the numbers break down:
- 0–14 days on market: 4.9% reduction from list to closing
- 15–30 days: 5.7% reduction
- 31–60 days: 7.1% reduction
- 61–90 days: 8.8% reduction
- 91–120 days: 10.5% reduction
- More than 120 days: 13.5% reduction
In other words, if your home is listed at $400,000 and doesn’t sell for over four months, you could end up accepting an offer around $54,000 below your asking price on average.
Why This Happens
Homes that linger on the market tend to develop a stigma—buyers wonder what’s wrong with them. The longer a home sits, the less leverage sellers have in negotiations, often leading to larger price reductions just to get a deal done.
On the other hand, homes priced competitively from day one attract more attention, more showings, and often multiple offers—helping sellers achieve a stronger final sale price.
The Bottom Line
The data makes one thing clear: time on the market equals money lost. A strategic, data-driven pricing approach from the start helps you sell faster and for more.
If you’re thinking about selling, partner with an experienced real estate professional who can help you determine the right price to attract serious buyers and avoid costly price reductions down the road.