QUICK ANSWER

Spotting an overpriced listing

To determine whether a house is overpriced, compare it to similar homes that have sold recently. If the list price is significantly higher than comparable sales (“comps”) in the neighborhood【746696551821206†L208-L217】, that’s your first clue. Next, check how long the home has been on the market; in a healthy market houses typically go under contract within 30–45 days【746696551821206†L225-L243】. If a property has been listed for months with no offers or only low‑ball offers, it may be priced too high【746696551821206†L256-L279】. Be wary of homes relisted after a contract falls through or homes with expensive customized upgrades the seller is trying to recoup【746696551821206†L281-L306】. A local agent can prepare a comparative market analysis to help you decide if the asking price aligns with reality.

Remember that Columbia’s market is relatively balanced — homes here tend to sell about 3 % below list price and go under contract in around 47 days【389361676657537†L201-L204】. If a listing sits past two months without a price adjustment, that may signal overpricing. The following sections explain how to read market indicators, interpret comps and negotiate when you encounter an inflated price.