3 Pricing Mistakes That Cost Spokane Home Sellers Thousands

If you want to sell your Spokane home for top dollar, you need to avoid these three common pricing mistakes that can cost you thousands—and even keep your home sitting on the market for months.

I’ve seen these mistakes happen over and over again, but the good news? They’re completely avoidable. In this guide, I’ll show you exactly how to price your home correctly so you get the best possible offer in today’s market.

Mistake #1: Overpricing Based on Emotion, Not Market Data

One of the biggest mistakes sellers make is pricing their home too high because they saw a neighbor list theirs for a high price.

Here’s what happens:

• A seller sees their neighbor list their home for $600,000 and assumes theirs must be worth at least that—maybe even more.

• But they don’t consider whether that home actually sold for that price or if it had better updates, a larger lot, or a better layout.

Real Example:
I recently sold a home in seven days for $605,000, a record price per square foot for the neighborhood. A nearby homeowner called me, assuming their home was worth the same.

Problem? Their home was a townhouse with no yard, shared walls, and condo fees—factors that made it worth $100,000 less.

The reality: Buyers don’t care what you think your home is worth. They care about what the market says it’s worth.

The Solution: Price Based on Sold Data, Not Active Listings

• Price your home based on recently sold homes, not just what’s currently listed.

• Look at homes with similar size, features, and location.

• If you overprice your home, it will sit on the market, and the longer it sits, the less buyers will be willing to pay.

I see it all the time—homes that sit on the market end up with worse terms and offers, leading to more headaches for sellers.

Mistake #2: Ignoring Market Shifts

The Spokane housing market is changing, and sellers who don’t adjust are getting left behind.

• Three years ago, homes were selling in days with multiple offers.

• Now, buyers have more options, and we have more inventory than we’ve seen since 2019.

Why This Matters for Sellers

• If a similar home in your neighborhood has been sitting for weeks with no offers, that’s a red flag.

• Listing at or above their price means you’re just going to sit on the market, too.

This is why working with an experienced agent is so important.

• A good agent should track Spokane’s market daily and know when to adjust pricing strategies.

• If homes are getting fewer showings or taking longer to sell, they should adjust before it’s too late.

The Solution: Be Willing to Adjust

• Think of price as a moving target, just like a contractor’s bid.

• If I meet with a seller three months before listing, I give them a price for today—but I always remind them that it could change by the time they list.

• If the market shifts, we shift with it—offering incentives, improving marketing, or making price adjustments to keep buyers interested.

At the end of the day, the market decides what your home is worth—not you. The faster you accept that, the faster you’ll get your home sold.

Mistake #3: Refusing to Adjust the Price When the Market Tells You To

No one wants to lower their price. But if your home isn’t getting showings or offers within the first few weeks, that’s a huge warning sign.

Here’s what happens when sellers wait too long to adjust:

• Buyers notice when a home sits for weeks without selling.

• They start asking, “What’s wrong with it?”

• Instead of submitting a strong offer, they see an opportunity to lowball you.

Even worse: If you wait too long to lower the price, many buyers have already moved on.

The Danger of “Chasing the Market Down”

• I recently spoke with a realtor who had a seller refusing to drop their price.

• They listed too high, and as the market declined over the winter, their price became even less competitive.

• They kept making small price drops—but never enough to catch up.

• Now, they’re chasing the market down, and they’ll have to make a huge cut just to sell.

The Solution: Listen to the Market and Adjust Quickly

• Monitor interest, showings, and feedback to make real-time adjustments.

• If buyers aren’t responding, don’t wait—adjust pricing before your home goes stale.

Bottom line: If you want to sell fast and for top dollar, you need to be flexible and adapt to market conditions.

Want to Avoid These Mistakes? Let’s Talk.

If you want to sell your Spokane home without making these costly mistakes, I can help.

I offer a real, data-driven home value estimate—not just a guess, but an actual market analysis based on what buyers are paying right now.

• Step 1: Schedule a free home valuation with me.

• Step 2: Get a custom pricing strategy based on real market data.

• Step 3: We price it right, market it aggressively, and get your home sold for top dollar.

Don’t let your home sit for months with no offers—let’s price it right, get it sold, and help you move forward.