The takeaway: Homes are still selling in the Lowcountry, but buyers have choices. Pricing your home using recent sales, current competition, and its condition gives you a stronger starting position than listing high and hoping someone bites.
There are three excellent reasons to overprice your home in this market. None of them will help you sell it, but let’s give them their moment.
1. You really enjoy showing off your house.
You love making the beds, wiping the counters, gathering up the dog, and leaving the house just as you were getting comfortable.
Who would want to put an end to all that?
Of course, an overpriced home can have the opposite problem: very few showings. Buyers compare listings before they ever schedule a visit. If your price doesn’t make sense next to the alternatives, your home might not make the shortlist.
Either way, the goal is to attract buyers who see enough value to take the next step and make an offer.
2. You want to help your neighbor sell first.
This is very generous of you.
When a buyer tours two similar homes and yours costs considerably more without a clear reason, you’ve just made the other one look like a better deal.
Buyers are comparing location, condition, space, updates, and monthly payment. They may also be comparing your home with new construction offering closing-cost assistance or other incentives.
Your asking price becomes part of that comparison. Make sure it gives buyers a reason to choose your home.
3. You’ve always wanted your own “Price Reduced” announcement.
Why get the price right today when you can announce a reduction later?
I hear it all the time: “Let’s start high. We can always come down.”
Yes, you can. But while you’re testing that number, buyers are making decisions. Some will purchase another home. Others will pass over yours and never circle back.
A price reduction can be the right move when the market response calls for it. It just shouldn’t be the plan before the listing even goes live.
We’re out of the 2.5% interest rate fantasyland.
Around the Lowcountry, we’re seeing plenty of inventory, price changes, and homes spending time on the market. The market is still moving, but sellers need to pay attention to what buyers can choose from.
You can’t slap whatever price you want on a home and expect buyers to line up at the door.
Today’s buyers have a budget. A higher asking price affects their payment, their cash needed to close, and how your home stacks up against everything else available.
That doesn’t mean you need to give your house away. It means your price needs a reason behind it.
What should your asking price be based on?
- Recent comparable sales: What have buyers actually paid for similar homes nearby?
- Current competition: What else can a buyer purchase in your price range today?
- Condition and presentation: How does your home compare with those alternatives?
- Days on market and price changes: Which comparable homes are sitting, and which prices have needed adjusting?
- Your timing: How does the pricing strategy support when you need to move?
These details need to be considered together. A countywide average won’t tell the whole story about your neighborhood, your price range, or your particular home.
Find a Realtor who will tell you the truth.
I understand wanting the highest possible price for your home. You should want that. My job is to help you pursue it with a strategy that makes sense.
Sometimes that means having a conversation you weren’t hoping to have.
A trusted Realtor should be able to explain a recommended price, show you the evidence, and tell you when your expectations don’t match what buyers are doing.
Before you list, ask: “What supports this price, and how does my home compare with the competition?”
An inflated promise won’t pay you at closing. An honest conversation is a much better place to start.
Thinking about selling in the Lowcountry? Let’s look at the recent sales, the homes you’ll be competing with, and a pricing strategy that fits your goals. I’ll tell you what I see, even if it isn’t the number you had in mind.