If you're thinking about selling your home in the Conejo Valley or you've noticed that your home has been sitting on the market longer than expected, it's time to talk about pricing strategies. Pricing your home correctly from the start is critical to selling quickly and getting the best possible offer.

In this blog, we'll break down why pricing matters, how overpricing can cost you time and money, and the steps you can take to ensure your home is priced to sell in today’s market.

Why Pricing Your Home Right Matters

The Conejo Valley real estate market is dynamic, with trends that shift throughout the year. As a homeowner, it’s important to understand that home pricing isn’t just about how much you’d like to get for your property—it’s about what the market will support. Homes priced too high tend to linger on the market, while well-priced homes tend to generate more interest, offers, and, ultimately, higher final sales prices.

When you price your home at or just below market value, you’re tapping into about 60% or more of the active buyer pool. In contrast, pricing your home even 10-15% higher than its actual market value can cause you to lose up to 90% of those active buyers. That’s a huge difference in the number of potential buyers seeing your listing.

The Pricing Pyramid: Visualizing Your Buyer Pool

Imagine a pricing pyramid where the base represents the largest pool of potential buyers, and as you move up, that pool shrinks. At the bottom of the pyramid, homes priced at or slightly below market value attract the largest audience. As you increase the price, fewer buyers are willing or able to consider your property, drastically reducing your chances of a quick sale.

Overpricing your home means you'll likely have fewer showings, less interest, and ultimately, less competition for your home—this often results in price reductions, wasted time, and in some cases, accepting a lower final offer than you would have if you priced it correctly from the start.

Weekly Price Drops in the Conejo Valley

Every week, we see between 30-60 homes in the Conejo Valley reduce their prices. These are homes that started too high and are now making adjustments to capture buyer attention. The problem with price reductions is that they often come too late. By the time you reduce your price, your home may have already lost its “new listing” appeal, and buyers may start wondering why the price was dropped, leading to assumptions that something might be wrong with the home.

By pricing your home correctly at the outset, you avoid having to play catch-up and waste valuable time on the market.

How to Price Your Home Right

1. Work with a Local Real Estate Expert
A local real estate agent knows the Conejo Valley market inside and out. They can provide you with a comparative market analysis (CMA), which shows recent sales data for similar homes in your area. This data helps set a realistic price range that reflects current market conditions. At Lydia Gable Realty Group, we specialize in the Conejo Valley and have helped hundreds of homeowners sell their homes quickly by starting with the right price.

2. Understand the Market Conditions
Market conditions play a huge role in pricing your home. Are homes selling quickly in your neighborhood? Are prices rising or falling? The Conejo Valley real estate market can vary between communities like Westlake Village, Thousand Oaks, Agoura Hills, and Oak Park. By understanding how long homes are staying on the market and what buyers are looking for, you can better position your home to sell quickly.

3. Appeal to the Largest Buyer Pool
To attract the most buyers, it’s important to price your home competitively. Pricing your home at or just below market value creates urgency—buyers feel like they’re getting a deal and are more likely to make offers. In some cases, this can even spark a bidding war, driving the final sales price higher than expected.

4. Avoid Overpricing
It might be tempting to price your home higher to “test the market,” but in reality, this strategy often backfires. As we mentioned earlier, overpricing can lead to fewer buyers, extended time on the market, and the need for future price drops. Remember, homes that sit on the market longer can give buyers the impression that something is wrong with the property, even when that’s not the case.

Let's Get Your Home Sold Quickly

At Lydia Gable Realty Group, we have over 19 years of experience in the Conejo Valley real estate market, helping homeowners like you sell their properties quickly and for top dollar. We know that pricing a home right from the start is key to success, and we’re here to guide you every step of the way.

If you're ready to sell or want to talk about the best pricing strategy for your home, reach out to us today. We’ll help you create a custom strategy to ensure your home attracts the most buyers and sells for the best price.