The #1 Thing Sellers Need To Know About Their Asking Price

When you put your house on the market, you want to sell it quickly and for the best price possible; that’s generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.
According to data from Realtor.com, in February, price cuts were the highest they’ve been in any other February since 2019 (see graph below):
If you consider that 2019 was the last true normal year for the housing market – that’s a big deal. We’re getting back to what’s typical for the market.
This isn’t the same frenzied seller’s market we saw a few years ago. You may not get the same price your neighbor did at the height of the pandemic. And that means you may need to reset your expectations.
Because here’s the reality. If you shoot too high and have to lower your price after the fact, you could actually end up walking away with lower offers than if you’d priced it right from the start. So, how do you avoid that? You lean on your agent.
How an Agent Helps You Nail the Right Price
A great agent doesn’t just pull a number out of thin air. They’ll use real data and market trends to make sure your house is priced based on what your specific home is valued at today. So, you’re setting a realistic price – one that’ll draw in serious buyers.
And based on your agent’s analysis of your local market, they may even recommend strategically pricing slightly below market value to help your house attract more eyes and more competitive offers. Here’s how your agent will determine the right number for your house:
- They look at recent sales. What did similar homes in your area actually sell for? Not list for, sell for.
- They analyze local market trends. Your home’s value isn’t just about what you want for it, it’s about what buyers in your area are willing to pay.
- They craft the right strategy. They’ll make sure your home is priced to attract attention and create a sense of urgency among buyers.
Why Overpricing Backfires
Unfortunately, some sellers still ignore their agent’s advice and prefer to start high just to see what happens. The hope being maybe they get their full asking price, or they at least have more wiggle room for negotiation. But pricing high usually ends up costing you, and here’s why:
- Buyers may not even look at it. Today’s buyers are more budget-conscious than ever. If they see a home that seems overpriced, they’re likely to skip it completely rather than try to negotiate.
- It could sit on the market for too long. The longer your home sits unsold, the more buyers will assume something’s wrong with it. That can make it even harder to sell down the line.
- You might end up getting less. Homes that require a price cut often sell for less than they would have if they had been priced right from the start.
You can see that shake out in the graph below. It uses data from the National Association of Realtors (NAR) to show that the longer a house sits, the less it’ll sell for:
This graph shows that if a house sells within the first 4 weeks it is listed, it usually goes for full price. Based on experience, that’s what usually happens to homes that are priced at or just below current market value. If it’s priced right, buyers will be interested, and, ultimately, willing to pay the asking price – or compete with other buyers and even go over asking.
But if a house isn’t priced right, it doesn’t sell as quickly. And this graph shows that, after the first 4 weeks on the market, the price starts to drop from there. That’s because buyer interest falls off the longer it sits. So, it becomes more likely a seller will either accept a lower offer because that’s all they have, or opt to do a price drop to draw people back in.
The last thing you want is to list too high, watch your house sit, and then have to drop the price just to get attention.
Want to make sure your home sells quickly and for the best price? Let’s go over the right pricing strategy for your house.
Does Your Current Home Fit Your Retirement Plans?

Retirement isn’t just a milestone. It’s the beginning of something really special. After years of hard work, it’s finally time to slow down, explore new passions, and live life on your own terms.
But with this exciting chapter comes some big choices. And one of the biggest is this: does your current home still make sense for the lifestyle (and budget) you want in this next phase of life?
That’s an especially important question right now. Just in the past five years, the cost of living has jumped by 23% according to the Bureau of Labor Statistics (BLS). That’s based on the Consumer Price Index (CPI), which is how changes are tracked in the average price consumers pay for goods and services (see graph below):
When you’re thinking about how to make your retirement savings last, those rising expenses matter. And if you’ve started to wonder whether your money will stretch as far as you need it to go, don’t worry. You may have more control than you think.
One way many retirees are protecting their savings is by relocating. Because your dollars do go further in some places.
Moving to an area with a lower cost of living can help you save on regular expenses like your housing, utilities, and taxes – especially if you downsize at the same time.
And that can free up room in your budget for the things that make retirement some of the best years of your life: travel, hobbies, spoiling your grandkids, or any of the other things you’ve been dreaming about doing in this next phase.
That’s not to say you have to move. It just means you’ll want to think about where you plan to live and make sure you’ve got enough savings to cover actually living there. It’s all about planning. As Go Banking Rates explains:
“How much you should have saved for retirement depends on a few key factors, including your location. Where you choose to spend your golden years is critical.”
And you don’t always have to go far. Sometimes it’s out of state, but other times moving to the suburbs instead of living near the city can make a big difference. And that’s worth thinking about as you plan for your next chapter.
Whether you’re considering downsizing, moving closer to your grandkids, or heading to an area where you can stretch your savings, a real estate agent can help. They’ll work with you to explore the options that make sense for your goals – and can help make selling your current house easier. They can also connect you with trusted agents in other parts of the country if you’re considering a big move.
You’ve worked hard to build a future you can enjoy. If your current home or location no longer supports that, it may be time to explore what’s next.
What does your ideal retirement look like? And could a move help make it even better? Let’s talk about how to make that vision a reality.
Local Market Update: March 2025

Here’s a transcript of Jeff Tucker’s most recent video, taking a local look at the February 2025 date from the Northwest MLS.
The Northwest MLS the headline this month is that sales activity slowed down in February after a strong January and an especially strong Q4 of 2024.
We saw both buyer activity and listing activity slow down a bit relative to last year.
I think the rise in mortgage rates back to around 7% this winter has finally cooled off some of the buyer enthusiasm we saw in Q4.
Here are the four key metrics I watched to track supply and demand in the market:
Closed and pending sales, which tell us a lot about demand.
Listings, both new and active, which tell us a lot about supply.
Across the Northwest MLS, closed sales of single family homes were almost exactly flat year-over-year at 3,550 versus last year’s 3,553.
Pending sales, which will mostly close in March, dropped 4% from the same month last year. One extending circumstance we had was one less business day this February, since last year was a leap year, but this is still looking like a cooler market in terms of demand than we’ve seen in a few months.
On the supply side, about 5% fewer new listings hit the market this February compared to last year’s, but the pool of active listings ended the month 33% higher than February 2024’s inventory.
The final key metric to check in on across the Northwest MLS is the median price for those closed single family home sales, which climbed just 2% year-over-year in February from about 635,000 to $650,000.
That also represents a cooldown from the median price growth that we’ve been seeing in Q4, and it seems to indicate that the higher levels of inventory and more modest demand in the market are putting some competitive pressure on sellers, preventing prices from rising too much
Overall Cooldown
Putting it all together, this looks like a market where the normal seasonal upswing in sales and prices has begun, but the year-over-year comparisons are looking a lot cooler than they were throughout Q4 and even in January.
I think that cool down was mostly due to interest rates rebounding this winter, but looking ahead if we see the recent dip in interest rates in late February and early March actually stick, I could see some of that heat coming back into the market right as we hit the spring selling season.
Residential Closed Sales
Now I’ll dig into the four counties encompassing the greater Seattle area where a similar cool down played out in February.
- Residential closed sales were flat year-over-year here in King County.
- They inched up 1% across the sound in Kitsap County.
- The dipped 2% in Pierce County, including Tacoma.
- The fell 3% in Snohomish County, which includes Everett.
For these four counties altogether, that’s a dip of 1% from the same month last year. Not bad, but it is a slow down after 6% growth in January.
Median Price
The median sale price was mostly flat locally.
- 0% change from last year in King County and Snohomish County.
- Up 4% in Kitsap
- Up 5% in Pierce County
Pending Sales
Looking ahead pending sales were flat or down locally, but mostly down.
- Down 4% in King County
- Down 16% in Kitsap
- Flat in Pierce County
- Down 10% in Snohomish County
Altogether that makes a 6% decline across the four counties in pending sales, suggesting that we will see fewer closings in March compared to March of last year.
Supply
On the supply side, the four county Greater Seattle area had about 35% more active listings at the end of February than the same time last year.
That inventory growth came in spite of a 7% decline across the region in the flow of new listings this February.
Again, that was potentially impacted by the slightly shorter month, but it does suggest sellers haven’t been flocking to list their homes in greater numbers yet this year.
It could also be due to sellers jumping the gun on listing, so year to date new listings are
actually up 8% thanks to some very impressive new listing growth in January.
Now I’ll be curious to see if the recent dip in mortgage rates can help restart the listing pipeline locally after a pretty modest February.
Is an Accessory Dwelling Unit (ADU) Right for You? Here’s What To Know

Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.
What Is an ADU?
According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU can be:
- Within a main home, such as a basement apartment
- Attached to a main home, such as a living area over a garage
- Detached from the home entirely; it could even be a manufactured home
The Benefits of ADUs
ADUs are growing in popularity as more people discover why they’re so practical. In fact, a recent survey shows that 24% of agents say an ADU, such as a mother-in-law house, is one of the most desired features buyers are looking for right now.
The growing appeal makes sense. With rising costs all around you, an ADU can help supplement your income and ease some of the strain on your wallet. Whether you buy a home that has one already or you add one on, it gives you the option to rent out that portion of your home to help pay your mortgage.
Here are some of the other top benefits of ADUs, according to Freddie Mac and the AARP:
- Living Close, But Still Separate: You get the best of both worlds — more quality time together, plus privacy when you want it. If that sounds like a win, it might be worth looking for a home with an ADU or adding one to your home.
- Aging in Place: Similarly, ADUs allow older people to be close to loved ones who can help them if they need it as they age. It’s a sweet spot that offers independence and support from loved ones. For example, if your parents are getting older and you want them nearby, this could be a great option for you.
- Built-In Childcare: If your family’s living in the ADU, you may be able to use them for childcare, which can also be a big cost savings. Plus, it gives your kids more time with their grandparents.
It’s worth noting that since an ADU exists on a single-family lot as a secondary dwelling, it typically can’t be sold separately from the primary residence. And while that’s changing in some states, regulations vary by location. So, connect with a local real estate expert for the most up-to-date guidance.
So, in today’s market, buying a home with an ADU or adding one to your current house could be worth considering. Give me a call if you have questions or want to discuss your best strategy for this real estate market.
Headed Back Into the Office? You May Decide To Move

It’s no secret that remote work has surged over the last few years. And that flexibility gave a lot of people the freedom to move — and work — from wherever they wanted.
But now, a growing number of companies are requiring employees to return to the office. And that’s leading some people to make decisions about where they live and if they need to move.
How Return-to-Work Policies Are Impacting Housing
During the rise of remote work, a lot of employees took the opportunity to move away from expensive or crowded city centers. Some opted for suburban neighborhoods and larger homes with yards, while others relocated to more rural areas. But lately, more people are returning to the city.
And according to data from Bright MLS, more than half of workers surveyed would have to rethink where they live or deal with long drive times if their job enforced a return-to-office policy (see chart below):
And maybe you’re one of them. If you moved farther out of the city during the work-from-home era, you may be facing a longer commute that you never expected to make daily. Once you’ve done it a few times, you might find it’s something you can get used to and isn’t as bad as you may have thought.
But sometimes, it’s just too hard to make it work — no matter how much you try. A drive or train ride that seemed fine once or twice a week can feel like too much of a grind five days in a row. It may also cost too much to commute so often, take too long, or cut too far into your free time. As Lisa Sturtevant, Chief Economist at Bright MLS, notes:
“During the pandemic, when remote work became the norm, homebuyers were able to move farther out . . . But workers do not have the same flexibility that they used to, and some are going to have to make a tough choice if and when their employer calls them back into the office full-time.”
If you’re thinking you may want to move, talking to an agent can help you weigh your options. Whether it’s finding a home closer to work, balancing commute time with affordability, or even selling a home in one area to buy in another, having a pro on your side makes the process easier.
So, if having to be back in-office has you considering a move, let’s connect. That way you have an agent to help you figure out what’s possible and what makes sense for you.