When the Wall Street Journal releases a story about home pricing trends, homeowners pay attention. And their recent report outlined a concern that is showing up in our local Metro Detroit market every single day: many sellers are starting too high, and it is costing them real money.

More than half of all homes sold this year required at least one price cut. That number is not just a national trend. It lines up with what we are seeing throughout Northville, Novi, South Lyon, and across Metro Detroit. Sellers who set their initial price above where the market is actually willing to respond are losing momentum from the moment the listing goes live.

This is not about houses being undesirable or the market shifting overnight. It is about buyer behavior. Today’s buyers are more price sensitive than they have been in years. Higher interest rates, increased monthly payments, and more options in the market all influence what they are willing to schedule a showing for. If the price does not make immediate sense, they scroll right past it.

Why Overpricing Hurts Your Sale

When a home is priced above market value, here is what typically happens:

Showings slow down immediately.
Buyers and agents look at thousands of listings every week. They know the market. If your home is outside what the data supports, traffic slows.

Days on market begin to climb.
Once a listing sits, buyers start wondering what is wrong with the home. They assume issues, not price, and that first impression is difficult to reverse.

The home becomes less competitive.
Other homes that are priced right get the activity, the attention, and the offers. Yours waits for the market to come to it, which rarely happens.

You end up reducing the price anyway.
And when price cuts come, they often need to be larger than the adjustment that should have been made from the start.

According to the Realcomp market update for October, inventory in Metro Detroit has increased by nearly 19% year over year. More options for buyers means fewer second chances for listings that miss the mark early.

The Right Price Attracts the Right Buyers

Pricing correctly from day one is not about leaving money on the table. It is about positioning your home in a way that attracts the most buyers, creates urgency, and leads to stronger offers.

The homes that sell the fastest in Northville, Novi, and South Lyon are the ones priced with precision. These homes get more showings, more competitive offers, and ultimately better net results than those that start high and work their way down.

How I Help You Price With Confidence

When we meet, I walk you through a clear, data-driven strategy based on what buyers are currently doing, not just what the neighborhood did last year. We look at absorption rates, days on market, pending activity, and the small details that help us understand exactly where your home belongs in today’s conditions.

With more than twenty five years serving the Metro Detroit real estate market, my goal is always to provide clarity and confidence, so you can move forward with a strategy that works.

If you want a detailed look at where your home stands in this market, I am here to help you make informed choices that lead to the best possible outcome.

The Jeff Duneske Real Estate Five-Star Real Estate Experience

Looking for trusted real estate expertise across Metro Detroit?
Explore more local insights from Jeff Duneske Real Estate, one of Southeast Michigan’s top reviewed Realtors, consistently recognized for five star service and proven results.

Discover why so many clients trust
Jeff Duneske, Metro Detroit’s Top Reviewed Realtor
to guide their next move with confidence, clarity, and care.

Metro Detroit | Northville | Novi | South Lyon | Plymouth

Each post highlights Jeff’s deep local expertise, market insight, and commitment to helping good people move forward in life through real estate.

Jeff Duneske, Northville Realtor® – Keller Williams Advantage
📱 Call or text: (248) 939 9393
🌐 Visit: Duneske.com