Think Your Home Will Sell Fast? Think Again!

Nearly half of all homes on the market are sitting stagnant, raising red flags for buyers and dashing sellers' dreams. Why? Because of one massive mistake that’s easy to avoid!

Hi everyone, Joe Hillner here with Guaranteed Home Sales, and welcome to this week’s Boca Raton Real Estate Market Watch.

The Real Estate Market Is Shifting

The days of skyrocketing home prices and lightning-fast sales are fading. In December 2024, 50% of homes listed for sale had been on the market for 70 days or more—the longest time since 2019! Even more shocking, nearly a quarter of all listings had been sitting for over six months.

So, what’s causing this rise in 'stale' listings? Spoiler alert: it’s not the homes—it’s the sellers.

The #1 Reason Homes Aren't Selling: Overpricing

Experts agree: the main culprit for stale listings is overpricing. Many sellers are clinging to outdated expectations from the buying frenzy of 2021-2022, when home prices soared.

But times have changed. Mortgage rates have doubled, demand has softened, and buyers are more cautious than ever. Yet sellers are still pricing their homes like it’s 2021, leading to listings sitting stagnant—and price cuts down the road.

“Realizing your home is worth less than it was a few years ago is a tough pill to swallow, but sellers must accept the new normal.”

- Joel Berner, Senior Economist at Realtor.com

What Happens When a Home Goes Stale?

Once a listing sits on the market too long, buyers start asking:

• Why hasn’t this home sold yet?
• Is something wrong with it?

Even if the home is in perfect condition, buyers assume the seller is getting desperate and start making lowball offers. It then becomes an uphill battle to regain interest. Even worse, the longer a listing lingers, the more likely sellers will have to cut the price—sometimes multiple times—just to get it sold.

Market Trends: Homes Are Sitting Longer

The numbers back this up:

• Median time on market rose in 46 of the 50 largest U.S. metro areas last month.
• Cities like Nashville, Orlando, and Rochester saw homes sitting for over 20 days longer than a year ago.
• In Boca Raton, the average days on market increased by 37%!

The result? Homes are selling slower, and sellers are losing money in the process.

How to Avoid This Costly Mistake

Want to sell your home faster and avoid price cuts? Here are three key strategies:

1. Price It Right from the Start – Work with a real estate agent who understands today’s market trends. They’ll help you set a realistic price—not an outdated one.
2. Invest in Presentation – Sometimes, it’s not just the price; it’s how your home looks. Fresh paint, updated landscaping, and staging can make a huge difference.
3. Be Willing to Adapt – If your home isn’t getting offers, listen to the feedback. It might be time for a price adjustment—or even a temporary pause on your listing.

Good News: This Isn’t a Market Crash

This slowdown doesn’t mean the market is crashing. Instead, it’s a return to normal. Before the pandemic, homes often took three to five months to sell. That’s just how real estate worked.

“The sky isn’t falling. We’re just getting back to a sustainable market pace.”

- Brian Stephens, Real Estate Agent

Final Thoughts

Sellers, take a deep breath. The market isn’t what it was, but that doesn’t mean your home won’t sell. With the right strategy, you can still get great results.

Remember:

• Avoid the overpricing trap.
• Focus on presentation.
• Stay flexible.

And most importantly—selling a home isn’t a sprint, it’s a marathon.