The Market’s Shifted — But Your Chance to Sell Strong Is Still Here

Remember a few years ago when homes in the Salt Lake Valley were basically flying off the market? Multiple offers, bidding wars, and homes selling way over asking were the norm. It honestly felt like you could name your price and buyers would still be lined up at your door.

But let’s be real, today’s market looks a little different. Inventory has grown, buyers are more selective, and homes are sitting a bit longer. We’re also seeing more sellers having to adjust prices to get attention.

So how do you still win in this market? It all comes down to one key thing: pricing your home right from the start.

Why Pricing Matters More Than Ever

A lot of sellers out there still believe they’ll get full asking price. In fact, a recent Realtor.com survey says 81% of sellers think that way.

But the numbers tell another story. According to the National Association of Realtors, nearly half of homes sold recently went for less than their asking price. Plus, about 1 in 3 sellers had to drop their price at least once before landing a deal.

The takeaway? There’s a gap between what sellers hope for and what buyers are actually willing to pay.

That doesn’t mean you can’t sell for a great price, it just means you need to price it right for today’s market, not yesterday’s.

What Happens If You Overprice Your Home?

It’s tempting to price high at first, thinking you’ll leave room to negotiate. But here’s the risk: when buyers see a home sitting on the market, they start to wonder what’s wrong with it.

Fewer showings, less excitement, and eventually a price cut. That’s the usual chain of events when a home is overpriced.

Realtor.com sums it up perfectly:

“By getting the right price early on, you can increase the odds buyers will be interested… and reduce the chances the home will sit on the market too long or need a price drop.”

The longer your home sits, the harder it can be to sell, plain and simple.

You Can Still Come Out Ahead

Here’s the good news: even if you price a little below what you hoped for, you’re probably still doing great. Home prices in Utah have climbed more than 57% over the past five years - that’s major growth!

This is where a local real estate expert really makes a difference. We know the Salt Lake market, the latest trends, the neighborhoods, and the sweet spot that attracts serious buyers without leaving money on the table.

As Mike Simonsen from Altos Research puts it:

“The best properties, well priced, are selling quickly in most of the country.”

Bottom Line

The Salt Lake housing market has shifted, but your opportunity to sell strong is still here. You just need the right pricing strategy.

Let’s connect and walk through what’s happening right here in your neighborhood. Together, we can figure out the smart price that gets your home noticed, attracts buyers, and helps you walk away with the best possible deal.