Two Critical Things Every Home Seller Must Know Before Listing

According to a recent housing market report, a large portion of homes that went unsold this year failed for two major reasons: incorrect pricing and poor timing.Redfin data shows that only about 25.3% of homes sold above the asking price. Realtor.com also reported a 57% increase in listings being withdrawn from the market compared to last year.

In other words, if you want your home sale to succeed in today’s market, two elements are absolutely essential:

1) Pricing it correctly from the start

2) Choosing the right timing to list

1️⃣ Price Your Home Correctly From the Beginning

Many sellers today still list their homes based on optimistic expectations—but the reality is that buyers now have more options, and their expectations have shifted.

The article explains that buyers quickly lose interest if a home feels even slightly overpriced. Recently, the average price reduction has been around 4%, and many sellers who are unable to adjust end up withdrawing their listings entirely.

For sellers in Chicago and the surrounding Illinois suburbs, this is a crucial point. Even if you have strong equity built over years of ownership, the market sets the price range, not the seller. Understanding the current price landscape and positioning your home strategically will give you a much stronger advantage.

2️⃣ Don’t Rush the Sale—Read the Market Carefully

Many sellers still expect their home to sell within a few weeks because that’s what happened during the hot market of previous years.But today, the average time from Listing → Sold is closer to 60 days. This pace may feel slower compared to the pandemic boom, but it’s actually considered a normal and healthy market speed.

The same is true in Chicago and the suburbs: homes aren’t selling as instantly as before, but this isn’t a sign of market decline. Instead, it indicates that the market is normalizing again.

So if you’re preparing to sell, give yourself enough time and approach the process strategically rather than rushing.

Strategic Recommendations for Sellers

✔ Research recent comparable sales

Look at similar homes in your neighborhood to understand their final sale prices and their DOM (Days on Market). Your realtor can help you analyze this accurately.

✔ Know your flexibility before pricing

Ask yourself: “How much of a price adjustment am I realistically prepared for?”Starting 2–4% below market can often help avoid larger price cuts later and attract stronger offers sooner.

✔ Choose the right listing period

School schedules, seasonal patterns, and community events all affect buyer activity. List when demand is naturally higher.

✔ Prepare your home thoroughly

A strong first impression matters. Before going live:

• Make necessary repairs

• Ensure the home is clean and show-ready

• Use professional photography

• Build a polished online listing

Final Thoughts

Selling your home isn’t just about putting it on the market—it’s about choosing the right price and the right timing.For sellers in Chicago and Illinois, this is the moment to evaluate the market carefully and move strategically.

Those who prepare well always end up in a stronger negotiating position.If you’d like guidance or a personalized market strategy, feel free to reach out anytime.

Chicago Real Estate – Hansangcheol📞 773-717-2227✉️ ChicagoBDB@gmail.com