If your house is sitting on the market and not getting any offers, there’s a chance it’s priced too high.
How long should a house be on the market before you reduce the price? 

Reducing your home’s asking price is never ideal, but sometimes it is necessary – at least if you want your home to sell.  

Right now we’re in a market where pricing is everything, and knowing when to lower your asking price can be the difference between a smooth sale and a stale listing. 

In this blog, we’ll look at pricing your house to sell and how long your house should be on the market before you reduce the price. Let’s get started. 

Selling a House in Calgary

If you’re in the process of selling your Calgary home (or getting ready to do so), you’re most likely in a good position. Over the past several years, property values in Calgary have escalated nicely thanks to an influx of new buyers in the market – and sellers have been able to cash in on this momentum. 

However, Calgary’s real estate landscape is always shifting and changing. Despite the comparatively limited inventory in today’s market, external factors such as economic trends and buyer behaviours are keeping conditions fairly balanced. So what does that mean for sellers?

Searching for more advice on selling your Calgary home? Check out these blogs next!

Are House Prices Dropping in Calgary?

If you’re thinking about selling and are expecting a red-hot bidding war the moment your home hits the market, you may need to reset your expectations. 

Today, it’s not uncommon to see sellers list their homes only to drop the asking price a few weeks or months down the line. On paper, it might look like house prices in Calgary are on the decline outright, however, that’s not necessarily the case. 

Although property values are still up nicely in the long term, we aren’t seeing the same type of month-over-month climb as we did a few years ago. So there’s still plenty of opportunity to find success, you just need to think strategically – and realistically. 

Is Your House Priced to Sell?

Hands down one of the most important parts of selling your home is pricing. More specifically, pricing your house to sell. You may have an idea of what your house is worth, but that doesn’t mean buyers will agree. 

The secret to getting the best price possible for your home is pricing it strategically. A house that’s “priced to sell” isn’t necessarily undervalued, it’s priced to maximize interest from potential buyers without leaving any potential profits behind. 

Setting the Right Price First

In today’s market, pricing is everything. So, if you don’t want to reduce your home’s asking price, the best thing you can do is set the right price in the first place. 

A lot of sellers think that if they price their home on the high end and wait for buyers to bid down, they’ll eventually settle on the best possible deal. In reality, this strategy doesn’t usually work out. When you overprice, you run the risk of turning buyers away altogether. 

On the other hand, a data-based pricing strategy aimed at optimizing your pool of potential buyers can help you get as many possible eyes on your home as possible – setting the stage for strong, potentially competitive offers. 

Thinking about selling your Calgary home? Explore these related blogs for more advice.

When Should I Lower the Price on My House?

The first 30 days after you list your home (meaning the date your home is office for sale) are by far the most important. This is when your house will get the most attention from potential buyers and their agents. You’ll want to capitalize on this momentum. 

Once your home has been on the market for more than a month, it will be harder to get buyers’ eyes on it. This is another reason why it’s important to set the right price from the get-go. If you don’t get any requests for showings during the first 2 weeks – or you get plenty of showings but no offers, there’s a chance your home is overpriced. 

If you adapt quickly and adjust your asking price appropriately with the help of your Realtor, you can still make the most of your first month on the market. 

Get the Best Price For Your Calgary Home

Looking for a local Calgary real estate agent who can help you price and prepare your home for maximum results? Look no further than Dolce Real Estate. 

With close to fifteen years of on-the-ground experience, we’ve guided thousands of sellers through all types of market fluctuations, industry changes, and economic conditions. Our industry-leading selling strategies can help you get the greatest possible return. 

Searching for a local team to help you get a great return on your Calgary home? Look no further than Dolce Real Estate. Call 403.999.5882 to get in touch or send us an email at info@dolcerealestate.ca.

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