Selling Secrets

Why Do Some Homes Sell Quickly While Others Linger on the Market?

Have you ever wondered why some homes fly off the market while others seem to sit for weeks—or even months—with little activity?

There are many factors at play when it comes to selling a home, but one in particular stood out to me again this past week: pricing strategy.

When you interview real estate agents to list your home, they’ll typically present a Comparative Market Analysis (CMA), which includes recently sold homes and a recommended list price for your property.

Let’s take a closer look at what matters most in this process:

1. The Importance of Sold Comparables

In my experience, agents should rely exclusively on sold comparables when estimating your home’s value. This is also what professional appraisers typically use. Why? Because list prices are simply what sellers hope to get—not what buyers are actually willing to pay.

As I often tell my clients: I could list an ice cream cone for $1,000,000. That doesn't mean anyone will buy it. And if others follow suit using that inflated price, their cones probably won’t sell either. Especially if the general market is selling a cone for $3.00 each.

Pending or active listings haven’t yet sold, so their prices are speculative at best. Using sold comps gives you a realistic picture of what the market is willing to bear.

2. List Price vs. Sale Price – Know the Difference

These are two different metrics. Right now in Big Canoe, homes are selling at a median of 95% of their list price. Some homes do sell over asking, but that’s not the norm—it’s the exception.

Let’s say 10 homes sell in a month. The median sale-to-list ratio (the one right in the middle) gives us the most accurate insight into market behavior—not the highest or lowest outlier.

A Real-World Example

Last week, I met with a client who had received a second opinion from another agent. That agent valued their home at $75,000 more than my recommended list price.

When I reviewed the comps used in that valuation, I noticed two major issues:

• One of the comps had a long-range mountain view (a premium feature),

• The other was a brand-new construction—not even finished.

When I explained the differences, it made sense to the client. And to be honest, I welcome questions like this—pricing a home correctly is both an art and a science, and it’s critical to get it right.

Bottom Line: Price to Sell, Not to Sit

The closer your Realtor gets to true market value from the start, the faster your home will sell—and in many cases, for more money than if it lingers unsold and requires future price reductions.

If you're thinking of selling, make sure you're working with someone who understands how to read the market—not just list a number that sounds nice.