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Why 50% of Homes are Selling for Under Asking and How to Avoid It

Monday, September 8, 2025
by Liz Warren

Why 50% of Homes Are Selling for Under Asking and How To Avoid It



 

If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. 

From Frenzy to “Normal”

Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.

But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset, and data shows that’s exactly what’s happening right now.

The graph below uses data from Zillow to show how this trend has shifted over time. Here’s what it tells us:

  • 2018–2019: 50–55% of homes sold under asking. That was the norm.
  • 2021–2022: Only 25% sold under asking, thanks to record-low rates and intense buyer demand.
  • 2025: 50% of homes are selling below asking. That’s much closer to what’s typical in the housing market.

Why This Matters If You’re Selling Your House

In this return to normal, your pricing strategy is more important than ever.

A few years ago, you could overprice your house and still get swarmed with offers. But now, buyers have more options, tighter budgets, and less urgency.

Today, your asking price can be make or break for your sale, especially right out of the gate. Your first two weeks on the market are the most important window because that’s when the most serious buyers are paying attention to your listing. Miss your price during that crucial period, and your sale will grind to a halt. Buyers will look right past it. And once your listing sits long enough to go stale, it’ll be hard to sell for your asking price.

The Ideal Formula

Basically, sellers who cling to outdated expectations end up dealing with price cuts, lower offers, and a longer time just sitting on the market. But homeowners who understand what's happening are still winning, even today.

Because that stat about 50% of homes selling for under asking also means the other half are selling at or above – as long as they're priced right from the start.

So, how do you set yourself up for success? Do these 3 things:

  1. Prep your house. Tackle essential repairs and touch-ups before you list. If your house looks great, you’ll have a better chance to sell at (or over) your asking price.
  2. Price strategically from day one. Don’t rely on what nearby homes are listed for. Lean on your agent for what they’ve actually sold for. And price your house based on that.
  3. Stay flexible. Be ready to negotiate. And know that it doesn't always have to be on price. It may be on repairs, closing costs, or some other detail. But know this: today’s serious buyers expect some give-and-take.

If you want your house to be one that sells for at (or even more than) your asking price, it’s time to plan for the market you’re in today – not the one we saw a few years ago. And that’s exactly why you need a stand-out local agent.

Bottom Line

You don’t want to fall behind in this market.

So, let's talk about what buyers in our area are paying right now. With local expertise and a strategy that gets your house noticed in those crucial first two weeks, anything is possible.

Want to know what your house would sell for?

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Happy New Year!

Thursday, January 2, 2025
by Liz Warren

Market Summary November Sales 2024

HAPPY NEW YEAR!

As we head into 2025 here is  a brief recap of some stats of the 2024 market. Many real estate sites report that this was a very difficult year with so little inventory and high interest rates. Since the beginning of the year the average market absorption is 2.7 months which is a seller’s market and unbalanced based on all pricing points.

 

Once I removed the sales for Colton which are mapped into our area through RMLS, we had a total of 136 sales for the year. Here’s a rundown of some of the stats that may be interesting:

 

13 forest cabins sold

102 detached single family homes sold

11 sales were over $1,000,000

19 sales were in Government Camp

14 condos sold and 9 were in Government Camp

8 sales were in Mt. Hood RV Village with tiny homes

 

Predictions for 2025 include more inventory coming on the market. We’ll see how that plays out. Currently our mountain market has 36 active listings. There are nine currently pending. So we will see how much the inventory goes up soon after the holidays.

 

Interest rates, low inventory, and consumer debt are slowing buyers down. Here are predictions for interest rates in 2025. Consensus is that rates will be slightly lower than 2024 but if inventory doesn’t increase, buyers may be paying the same as a todays rates because prices will be higher.

 

Mt. Hood Furture interest rates prediction

Consumer debt is another obstacle. People are tapped out which makes saving for a home tough.

Consumer Debt

consumer debt

Here are the statistics for November 2024’s market from RMLS.

 

November 2024 sales for Mt. Hood Real Estate

Listed below are the ten sales for November.

 

Mt. Hood Real Estate Sales for 2024 November

Mt Hood Real Estate Sales November 2024

December 2024 National Overview

U.S. Real Estate Overview

Note: October 2024 data below are the most recent released by the National Association of Realtors.

Existing-home sales rose in October, according to the National Association of REALTORS®. Sales improved in all four major U.S. regions. Year-over-year, sales elevated in three regions but were unchanged in the Northeast.
 
Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – expanded 3.4% from September to a seasonally adjusted annual rate of 3.96 million in October. Year-over-year, sales progressed 2.9% (up from 3.85 million in October 2023).

National Association of Realtors October 2024 Data

"The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” said NAR Chief Economist Lawrence Yun. "Additional job gains and continued economic growth appear assured, resulting in growing housing demand. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.”
 
Total housing inventory registered at the end of October was 1.37 million units, up 0.7% from September and 19.1% from one year ago (1.15 million). Unsold inventory sits at a 4.2-month supply at the current sales pace, down from 4.3 months in September but up from 3.6 months in October 2023.
 
The median existing-home price for all housing types in October was $407,200, up 4.0% from one year ago ($391,600). All four U.S. regions registered price increases.
 
"The ongoing price gains mean increasing wealth for homeowners nationwide,” Yun added. "Additional inventory and more home building activity will help price increases moderate next year.”
 
According to the monthly REALTORS® Confidence Index, properties typically remained on the market for 29 days in October, up from 28 days in September and 23 days in October 2023.
 
First-time buyers were responsible for 27% of sales in October, up from 26% in September but down from 28% in October 2023. released in November 20234 – found that the annual share of first-time buyers was 32%. NAR's 2024 Profile of Home Buyers and Sellers – released earlier this month – found that the annual share of first-time buyers was 24%, the lowest ever recorded.
 
Cash sales accounted for 27% of transactions in October, down from 30% in September and 29% in October 2023.
 
Individual investors or second-home buyers, who make up many cash sales, purchased 17% of homes in October, up from 16% in September and 15% in October 2023.
 
Distressed sales – foreclosures and short sales –  represented 2% of sales in October, unchanged from last month and the previous year.
 
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.78% as of November 14. That's down from 6.79% one week ago and 7.44% one year ago.
 
Regional Breakdown
 
Existing-home sales in the Northeast in October grew 2.2% from September to an annual rate of 470,000, identical to October 2023. The median price in the Northeast was $472,900, up 7.6% from last year.
 
In the Midwest, existing-home sales bounced 6.7% in October to an annual rate of 950,000, up 1.1% from the prior year. The median price in the Midwest was $305,300, up 7.2% from October 2023.
 
Existing-home sales in the South climbed 2.9% from September to an annual rate of 1.77 million in October, up 2.3% from one year before. The median price in the South was $361,200, up 0.9% from one year earlier.
 
In the West, existing-home sales increased 1.3% in October to an annual rate of 770,000, up 8.5% from a year ago. The median price in the West was $627,700, up 4.4% from October 2023.

 

Warranties for older homes

New homes come with warranties to protect the buyer in case of the unexpected. But what about existing homes? Fortunately, there are a number of companies today who offer warranties for existing homes. Sellers can now offer their buyers a level of assurance that was previously reserved for new construction, and buyers can buy with confidence! If you are in the market to buy or sell, ask us about the advantages of a home warranty. You might be surprised at how much protection is offered at a very reasonable price.

Seller strategy

Selling your home in today's market requires strategy and execution. Here are some tips to help sellers reduce their time on market while getting excellent value:

  • Make it shine. Buyers are attracted to attractive homes. To make your home stand out, mow the lawn, rake the leaves, wash your windows, and clean the carpets. These small things can make a big difference.
     
  • Remove clutter. Not only do clean homes show better, but tidy homes offer more to the imagination. One person's treasure is another person's trash. Removing unnecessary clutter will help potential buyers envision their own potential for the home.
     
  • Consider removing art and personal keepsakes. This one is tough for certain people emotionally, but don't take it personally. Some savvy sellers go beyond de-cluttering and remove all (or most) of their personal artwork, family photos and personal mementos to make easier for potential buyers to imagine the home being theirs. 
     
  • Pay attention to the market. Work with your agent and price your home to sell. A competitively priced home is the one that sells first, and in this market that counts for a lot. Even in fast-moving markets in many parts of the United States, overpricing your home can lead to selling it for less or incurring greater holding costs than if you had priced the house appropriately in the first place. An experienced agent will help you arrive at the most advantageous price for your home.

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

 
 
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Investors Are Not Buying Up All The Homes

Friday, November 29, 2024
by Liz Warren

         

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Make Your House the Top Thing on Every Buyer’s Mt. Hood Wish List This Season

Thursday, November 28, 2024
by Liz Warren

Make Your House the Top Thing on Every Buyer’s Mt. Hood Wish List This Season



 

With the holidays right around the corner, homeowners planning to move have a decision to make: sell now or wait? Some may even consider taking their house off the market until next spring. But is that the best choice? Because at this time of year, your home can really stand out.

Here's the thing: there are plenty of buyers out there who want to be in a new home by the holidays, and your house might be just what they’re looking for. As an article from Redfin says: 

“. . . there is typically less inventory in the housing market this time of year, allowing your home to easily stand out among the available inventory. And though there are technically fewer buyers overall, the homebuyers that are looking are far more serious about finding a home within a specific timeframe. . . selling your home during the holidays might be your best present this year.”

Here are four key reasons you may not want to wait to sell your house.

1. Serious Buyers Are Looking Right Now 

The holiday season doesn’t put a pause on the desire to own a home. Sure, some buyers might delay their search until next year, but others have a reason they need to move now. These buyers are highly motivated and ready to make a serious offer. As Investopedia says:

“Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

2. You Have an Inventory Edge

While there are more homes coming to the market right now, overall, the number of houses available to buy is still low. 

So, what does that mean for you? If you work with a trusted agent to price your house right, it could still sell pretty quickly. That’s because today’s buyers are on the hunt for quality options – and your home may be exactly what they’re searching for.

3. You Have Control Over Your Showings 

Selling during the holidays doesn’t mean constantly disrupting your schedule. You have the flexibility to set up showings at times that work best for you. This is especially helpful during a busy season, and many buyers are likely to be more flexible with their schedules since they often have extra time off around the holidays.

Now, it’s always better to offer more flexible access to your house. But the reality is, you don’t have to stop the process entirely – especially when you have a great agent to help you navigate each step along the way.

4. Holiday Décor Can Make Your House Shine

For many buyers, a tastefully decorated home can create a warm, inviting atmosphere. It’s easy for them to imagine holiday gatherings and cozy nights in a space that feels just right. Keep your choices simple to let your home’s charm shine through. An article on holiday home-selling advises:

“If you’re selling around a holiday and have decorations up, make sure they accent—not overpower—a room. Less is more.”

Bottom Line

There are plenty of good reasons to put (or keep) your house on the market during the holidays. Let’s connect to see if this is your moving season.

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Sale Stats for Mt. Hood Area September 2024

Thursday, October 10, 2024
by Liz Warren

Mt. Hood Sales Statistics for Mt. Hood September 2024

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How Long Will It Take To Sell My House on Mt. Hood?

Tuesday, June 25, 2024
by Liz Warren

How Long Will It Take To Sell My House on Mt. Hood?



 

You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with a local real estate agent.

They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way you have realistic expectations and can work together to come up with a plan that’s based on today’s market.

Here’s a high-level overview of just one of the factors a great agent will walk you through – the supply of homes for sale and how that impacts your process.

The Growing Supply of Homes for Sale

Over the past few months, the number of homes for sale has increased. This is good news when you move because it means you’ll have more options as you search for your next home. But it also means buyers have more to choose from, so if your house doesn’t stand out – it may take a bit longer to sell.

Available inventory is made up of new listings (homes that were just put up for sale) and active listings (homes that were already on the market but haven’t sold yet). And if you look at data from Realtor.com you can see a good portion of the recent growth is from active listings that are sticking around (see the blue bars in the graph below):

 

How It’s Impacting Listings Today

Think of the homes on the market like loaves of bread for sale in a bakery. When a fresh batch of bread is put out, everyone wants the newest and hottest one. But if a loaf sits there too long, it starts to get stale, and fewer people want to buy it.

The same goes for homes. New listings are the freshest and most sought-after. But if a home isn’t priced correctly, doesn’t show well, or it doesn’t have an effective sales or marketing strategy behind it, it can sit on the market and become less appealing to buyers over time.

An Agent Will Help Your House Stand Out and Sell Quickly

Timing is important to you. You want to get this done, fast. By leaning on a pro, they’ll make sure your listing is fresh and doesn’t stick around long enough to go stale. As the National Association of Realtors (NAR) explains:

“Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home.”

Your agent will factor the recent inventory growth into their plan and create a customized selling strategy for your house. The supply of homes for sale can vary a lot by area. So they’ll do things like share their valuable insights into what’s happening with supply in your market, help you price your home correctly, and create a marketing plan that gets your home noticed.

Don’t let your listing get stale—reach out to a real estate agent today to make sure your listing is fresh and appeals to buyers from the start. It makes a big difference. 

Bottom Line

If you want your house to sell fast, you need to work with a pro. Let’s connect so you’ve got someone who understands the current market trends and how to build a strategy around those factors, so your house is set up to sell quickly.

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The Perks of Downsizing When You Retire

Friday, April 12, 2024
by Liz Warren

The Perks of Downsizing When You Retire 



 

a screenshot of a cellphone

Some Highlights

  • If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses.
  • Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move.
  • If you're thinking about moving to a smaller home, let’s go over your goals and look at your options in our local market.
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New Buyer and Seller Guides for Mt. Hood

Wednesday, March 13, 2024
by Liz Warren

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Home Price Seasonality Is Coming Back

Thursday, November 16, 2023
by Liz Warren

          

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How Owning a Home On Mt Hood Grows Your Wealth with Time

Friday, June 16, 2023
by Liz Warren

 


 

Some Highlights

  • If you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.
  • Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years.
  • That means your net worth can grow significantly in the long term when you own a home. Let’s connect so you can start your homebuying journey today.
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