The Cost of Overpricing: Why Starting Right Matters

Written By Jamie Braithwaite

The First Price Is the Most Important One

When it comes to selling your home, the first price you choose may be the most important decision you make. Pricing right from day one is not just about attracting attention—it’s about protecting your equity.

As Lawrence Yun, Chief Economist for the National Association of REALTORS®, recently noted:

“There is a penalty to wrongly pricing the home from the get-go. The longer the days on market, the larger the price reduction.”

At Bee Home Real Estate, we take that truth seriously. That’s why every pricing strategy we build is backed by two essential data views:

  1. The immediate six months of market performance.

  2. A three-year historical quarterly analysis of single-family home transactions across Bonneville County.

By studying both the short-term pulse and long-term patterns, our team helps you set a price that aligns with where the market is—and where it’s going.

What the National Data Shows

According to the National Association of REALTORS®, homes that linger on the market tend to sell for significantly less:

  • 0–14 days: ~5% below list price

  • 31–60 days: ~7% below

  • 91–120 days: over 10% below

  • 120+ days: more than 13% below

And that’s before inspections and appraisals, which often reduce the final closing price another 2%.

The takeaway is clear: every extra day on the market costs sellers both time and money. Starting strong gives you leverage; waiting too long to adjust means playing catch-up.

Bonneville County Market Snapshot: The Last 6 Months

Bee Home’s current market analysis shows how this principle plays out right here in Bonneville County

Bonneville County Real Estate Market Overview: 6 Months Snapshot

Homes priced under $500,000 are selling the fastest—just six weeks on average—while mid-range homes between $500,000 and $1,000,000 typically sell within two months. Luxury listings over $1 million require more time and a targeted marketing approach, averaging 88 days on market.

Even with these differences, one trend is constant: homes that start with the right price sell faster and closer to their asking price.

Three Years of Market Perspective: Stability in Motion

Three Years of Market Perspective in Bonneville County

Looking beyond six months, Bee Home also studies three full years of quarterly market dynamics using data from Lone Wolf Market Dynamics® reports.

This long-term data reveals three key insights for Bonneville County’s single-family home market:

  1. Consistent Seller’s Market: Homes continue to sell in under four months, with steady buyer demand.

  2. Resilient Pricing: Even through shifting interest rates, sale prices have remained strong—reflecting a healthy, balanced market.

  3. Predictable Seasonal Rhythm: Spring and early summer quarters see the highest transaction volumes, reinforcing the importance of listing readiness before peak season.

By combining quarterly history with real-time movement, Bee Home helps clients understand not just what’s happening now but why—and how to position their home strategically within those cycles.

Why Overpricing Hurts Sellers

Overpricing might seem like “leaving room to negotiate,” but in reality, it often leads to the opposite outcome:

  • Buyer hesitation: Longer listings signal to buyers that something’s wrong.

  • Reduced visibility: After the first two weeks, new listings push yours lower in search results.

  • Lower appraisals: When price cuts follow, appraisers may question value, creating financing friction.

Correct pricing isn’t about giving away your investment—it’s about generating the momentum that drives higher-quality offers and smoother negotiations.

How Bee Home Helps You Price with Confidence

At Bee Home, our approach blends data with design:

  • 6-Month Comparative Market Analysis (CMA): Identifies your competition and absorption rate.

  • 3-Year Trend Review: Tracks quarterly performance to forecast optimal list timing and pricing windows.

  • Professional Staging & Photography: Creates a first impression that draws offers quickly.

  • Strategic Launch Plan: Maximizes visibility within the critical first 14 days on market.

Our goal is simple: Price Right. Market Smart. Sell Strong.

The Takeaway: Price to Sell, Not to Sit

Every home tells a story. Pricing it correctly ensures that story reaches the right buyer—at the right time.

Homes priced accurately from day one consistently sell faster, closer to asking price, and with fewer inspection or appraisal setbacks. In Bonneville County, where inventory remains moderate and demand steady, that precision matters more than ever.

👉 Contact the Bee Home Real Estate Team today for a complimentary market analysis that blends local insight, historical trends, and personalized strategy.

Because at Bee Home Real Estate, our mission is simple: Thrive Your Hive. 💛

🐝 Bee Smart Tip

Overpricing delays offers. Strategic pricing delivers results.

Data Sources:

Jamie Braithwaite
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