Patience Won’t Sell Your House in Connecticut – Pricing Will
Are you waiting for that “perfect buyer” to fall in love with your home? In today’s Connecticut market, patience isn’t the issue. Pricing is.
Across the country, homes are taking longer to sell. According to Realtor.com, the typical home sat 60 days on the market in August 2024, which is seven days longer than last year. With more inventory, buyers have choices – and they’re skipping overpriced homes.
As a local Realtor® here in Tolland, Windham, Hartford, New London, and Middlesex counties, I see this firsthand. Sellers who cling to last year’s numbers often face longer listing times and frustrating feedback. The truth is simple: your price must match today’s market, not yesterday’s surge.
Why List Prices Aren’t Rising Anymore
During the 2021–2022 boom, sellers could set nearly any price and expect multiple offers. That’s no longer reality. Data from the National Association of Realtors shows median existing-home prices have mostly stabilized instead of continuing sharp increases. Buyers are more price-conscious than ever, and if your home feels even slightly overpriced, they’ll just move on.
Here’s the mistake I see: many homeowners are still hoping to squeeze a little more out of their sale than the market will allow. But waiting won’t fix an inflated price – adjusting it will.
4 Signs Your Asking Price May Be Too High
If your Connecticut home is on the market without much traction, look for these red flags. Bankrate highlights common signs of overpricing:
Few or no showings
No offers, or only lowball ones
Negative buyer feedback after tours
Your home sitting longer than the county average
Sound familiar? Then it’s not time to wait. It’s time to reprice.
Image Suggestion: A “For Sale” sign with no buyers around. Alt Text: “Overpriced Connecticut home sitting unsold with a For Sale sign.”
What’s the Solution for Connecticut Sellers?
A small price correction can make a big difference. I often remind sellers that you don’t need to slash your price – just align it with current buyer expectations. Even a modest adjustment can bring in more traffic and offers.
And don’t forget, even if you don’t get the exact number you imagined, chances are your equity has grown significantly over the years. CoreLogic reports that U.S. homeowners with mortgages gained an average of $25,000 in equity in the past year alone. That means you’re still in a strong position when you sell in today’s Connecticut market.
Why Work With an AI-Certified Agent Like Me?
Pricing is just one piece of the puzzle. As an AI Certified Agent, I use advanced tools to market your home to the most likely buyers. That means your listing gets more targeted exposure, often resulting in faster sales and stronger offers.
Technology helps me get results, but personal service is still at the heart of what I do. With years of experience across eastern and central Connecticut, I know how to combine modern strategies with local expertise to get your home sold.
Bottom Line
Patience won’t sell your house. The right price will. If your home isn’t moving, the market is telling you something – and pricing strategically can turn things around.
Call me at 860-985-4363 or visit melindatherealtor.com for a free consultation. Never too busy for you to be my #1 client.
Frequently Asked Questions
Q: How long does it take to sell a home in Connecticut right now?
A: On average, homes across Connecticut are taking about 60 days to sell, according to Realtor.com. Well-priced homes in desirable towns often go faster, while overpriced ones can sit for months.
Q: Should I lower my price if I’m not getting offers?
A: Yes, a small price adjustment can bring your home back into the spotlight. Even a modest reduction can attract new buyers and fresh interest.
Q: Can I still profit even if prices aren’t rising?
A: Absolutely. Most Connecticut homeowners have built up years of equity. CoreLogic data shows that equity gains remain strong, so even if you sell for less than you hoped, you’re likely still walking away with a great return.
Sources
Realtor.com – “Housing Market Trends” https://www.realtor.com/research/housing-trends
National Association of Realtors – “Existing-Home Sales Data” https://www.nar.realtor/research-and-statistics
Bankrate – “Signs Your House Is Overpriced” https://www.bankrate.com/real-estate/signs-your-home-is-overpriced
CoreLogic – “Homeowner Equity Insights” https://www.corelogic.com/intelligence/homeowner-equity-insights
