What Happens When You Overprice Your Home in Texas?

By Traci Frasier

Director of luxury and residential sales, Broker Associate

Have you ever wondered why some homes in Texas sell within days while others sit on the market for weeks or even months? The truth is, pricing your home too high can actually hurt your chances of selling. Many sellers believe starting high gives them room to negotiate, but in reality, it can drive buyers away before they even see your home.

Here’s why.

Overpricing shrinks your buyer pool. Every day your home stays on the market overpriced, you lose potential buyers. In this digital age, homebuyers are searching online, and they shop by price range. If your Germantown home is priced even $20,000 too high, it may never appear in their search results.

Buyers who do see it will compare it to similar homes that are correctly priced and think, “Why does this one cost more?” That simple question can cause them to move on to another property without ever scheduling a showing. The results are: Fewer showings, no offers, and eventually, a painful price reduction that leaves your listing looking tired and overlooked.

You’re helping the competition sell. When you overprice, you’re not just hurting your own sale; you’re helping other sellers. Buyers often tour several homes in one day, comparing features and prices. If your home stands out as the “expensive one,” it becomes the benchmark they use to justify making a lower offer on another property.

In essence, your home becomes the anchor that makes competing listings look like better deals, which is not the kind of spotlight you want.

The stale listing effect. In Germantown, the average home that lingers on the market longer than three weeks often needs a price drop of 5% or more just to regain buyer interest. By then, your strongest window of activity has already passed.

Even when you do lower the price, the listing carries the perception of being “picked over.” Buyers may assume something’s wrong with it, or worse, that you’re desperate to sell. This can lead to more aggressive negotiations and ultimately, less money in your pocket.

Appraisals will catch up to you. Let’s say you do find a buyer willing to pay your high asking price. You’re not out of the woods yet. If the home doesn’t appraise for that amount, the lender won’t approve the whole loan, forcing the buyer to either renegotiate or walk away altogether. At that point, weeks have passed, momentum is lost, and your listing re-enters the market with less leverage than before.

If you’re thinking about selling, don’t let overpricing cost you valuable time and money. I’ll help you create a smart, data-driven pricing plan that gets your home seen, loved, and sold fast.

Call or text me at 830-377-0904 or email me at traci@legacybrokergroup.com to schedule your free, no-pressure pricing review and discover the true value of your Texas home.