Most sellers come into the market with one number in mind. And after watching Central Indiana real estate for over 30 years, I can tell you it’s often the one that costs them the most. That’s their asking price.
A survey from Realtor.com shows about 8 in 10 (80%) of sellers expect to sell at or above their asking price today. But here’s where things get interesting.
In reality, only about 4 out of every 10 (roughly 40%) actually do.
That’s a big gap. And it’s where a lot of sellers, even right here in Franklin Township, Perry Township, and across the Southside, get caught off guard. So, why the disconnect? And how can you set yourself up to be one of the 4 in 10 that get top dollar?
Let’s break it down.
What Should You Really Expect To Get for Your House?
That 40% may sound low at first, but it’s not.
If you look back to the last typical year for the housing market (2019), what we’re really seeing is a return to what’s normal (see chart below). If anything, slightly more homeowners are able to sell above list price today compared to 2019:
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It only feels low because the past few years were anything but typical. Between 2020 and mid-2022, buyer demand was sky-high and the number of homes for sale was at record lows. We saw it firsthand right here in Central Indiana. Almost everything sold over asking, often with multiple offers on day one.
Now, the market has shifted.
There are more homes for sale. Buyers have more options. And that means they’re more selective about how they spend their money, especially in neighborhoods like Franklin Township where median prices are still under $290K and inventory is climbing.
In other words, the rules have changed. And pricing like it’s still 2021 is where sellers run into trouble. You have to meet the market where it is if you really want to cash in big.
What Happens When a Central Indiana Home Is Priced Too High
Here’s the reality. It’s easy to think pricing high gives you room to negotiate. But it usually does the opposite.
When your home is priced above what buyers expect, whether that’s in Beech Grove, Greenwood, or anywhere on the Southside, they don’t negotiate in this market. They move on.
Because buyers notice price first. And if your home doesn’t line up with similar options in your area, it may not even get a showing. And that’s when things start to snowball:
- A high price gets less interest from buyers.
- Less interest means fewer offers.
- And fewer offers usually means more time on the market.
Take a look at this table from the Indiana Association of Realtors. It shows that homes listed at or under market value sell fast. But homes priced high? They linger. And that delay comes at a very real cost, especially when you’re competing against other listings in neighborhoods where buyers know the value proposition.
[CHART]
The Price Cut Trap (And How To Avoid It)
When a home sits that long without offers, a lot of sellers will do a price reduction. According to Realtor.com, 16.7% of sellers are going that route today.
But here’s the real problem. Even a price cut doesn’t guarantee a sale.
In fact, some buyers will see a reduction as a sign something’s wrong with the house, even when nothing is. We’ve seen this happen time and again with beautiful homes in great Central Indiana neighborhoods. The only thing “wrong” was the initial price.
That’s why data from the National Association of Realtors (NAR) shows the longer a home sits, the bigger that price cut tends to be to attract buyers back:
So, what starts as a strategy to “leave room” to negotiate can end up costing you more in the long run.
Why Pricing Right from Day One Matters in Central Indiana
Even though listing at or even just shy of market value may sound counter intuitive if you’re looking to get as much money for your house as possible, after three decades of selling homes across the Southside and Central Indiana, I can tell you it really is the best strategy.
Because the goal isn’t just to list your house to see what price sticks. It’s to price it in a way that creates demand from day one.
NAR puts it best:
“While some sellers are pricing their homes higher than ever, a more ‘goldilocks’ frame of mind is a better approach to avoid price cuts and lingering time on the market.”
In other words, there’s a sweet spot. Too high, and buyers disappear. Too low, and they question the value.
But right in the middle? That’s where the magic happens.
And that’s where the right local agent comes in.
At David Brenton’s Team, we don’t just pull a number out of thin air. We help you understand:
- What buyers are actually paying right now in your specific neighborhood
- How your home compares to recent sales in Franklin Township, Perry Township, Greenwood, or wherever you’re located
- How to price it so it stands out immediately in today’s market
We’ve been doing this since 1992, right here from our office on Stop 11 Road. We know these neighborhoods inside and out. We know what sells and what sits. And in today’s market, that local expertise is the difference between:
Listing high, watching it sit, and selling for less later.
Or, pricing it right, creating competition, and putting yourself in a position to win from the start.
Bottom Line
A lot of Central Indiana homeowners think they can list high now and negotiate later, but that’s a mistake that costs them. And it’s the reason only 4 out of every 10 sellers are getting their asking price or more.
If you want to be in that group, it starts with getting the price right from day one.
Ready to find out what your home is really worth in today’s Central Indiana market? Let’s have a conversation. No pressure, no strings, just honest local expertise from a team that’s been here for over 30 years.
Contact David Brenton’s Team today:
317-882-7210
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