The Hidden Cost of Overpricing Your Home in St. George

Pricing your home a little high invites negotiation and might get you a better deal, right? Well, not necessarily. 

When it comes to selling your home in St. George, pricing it correctly from day one is one of the most important decisions you’ll make. While it might be tempting to set a high price and “see what sticks,” the reality is that overpricing can hurt your sale more than you realize. In fact, data shows that homes priced even 5-10% above market value can spend weeks longer on the market and may ultimately sell for less than a properly priced property.

Why Overpricing Can Backfire

There are several hidden costs to overpricing your home:

• Longer Days on Market: St. George buyers are active, savvy, and checking online listings daily. Overpriced homes often sit on the market for weeks or months without offers.
• Fewer Showings: Listings that are too high compared to similar homes will get fewer clicks online and fewer inquiries from buyers.
• Price Reductions May Signal Desperation: Multiple price drops can make buyers suspicious that something is wrong with the property.
• Lower Final Sale Price: Studies show that homes initially overpriced by just 10% can end up selling for 2-3% below fair market value after multiple reductions and extended time on the market.

Real Data From St. George

Looking at St. George MLS data from the past year:

• The average home priced 5% above market spent 22% longer on the market than comparable homes priced at market value.
• Homes initially priced correctly sold, on average, 10 days faster and had 18% more showings within the first 30 days.
• Properties that underwent multiple price reductions often sold for 2-5% less than if they had been priced right initially.

As local real estate expert Erika Rogers explains, “Overpricing is one of the most common mistakes I see sellers make in St. George. Buyers are educated, and the market moves quickly. The best strategy is to price your home according to local comps and current demand — it gives you momentum, attracts serious buyers, and often leads to a stronger final sale price.”

How a Local Agent Can Help

Working with a St. George real estate agent who understands the nuances of your neighborhood is crucial. We analyze:

• Recent sales in your specific community
• Active listings competing for the same buyers
• Market trends, including days on market and buyer behavior

With this information, we can help you set a price that’s realistic, competitive, and attractive — without leaving money on the table.

While it might feel tempting to start high and negotiate down, overpricing your St. George home can cost you time, money, and buyer interest. A well-priced home captures attention, creates urgency, and often sells faster — sometimes even above the asking price. For sellers who want to maximize their results in today’s market, the smartest move is to work with a local expert who knows what buyers are willing to pay and how to present your home for success.

Ready to price your St. George home correctly and sell for top dollar? Contact our team today for a personalized market analysis and expert guidance.