The #1 Thing Sellers Need To Know About Their Asking Price in Riverside

When you’re ready to sell your house in Riverside County, your top goals are likely to sell quickly and for the highest possible price. But in today’s market, many homeowners are overestimating what their home is worth. With growing inventory levels across Riverside, Moreno Valley, and Corona, the market has shifted — and that has major implications for your asking price.

The result? Price reductions are trending up. But with the right pricing strategy from the start, you can avoid this common pitfall. Here’s how.

According to recent data from Realtor.com, February saw the highest rate of price reductions for that month since 2019 (see graph below):

2019 marked the last normal housing market before the pandemic-driven frenzy, which is a significant shift. The real estate market in Riverside County is normalizing, and pricing expectations need to shift, too.

This Isn’t the Pandemic Market Anymore...

Buyers today are more cautious and price-conscious. That means sellers can’t always expect to match the sky-high prices their neighbors may have received during the peak of the housing boom. And if you start too high and later reduce the price, you could end up with lower offers than if you had priced correctly from day one.

Here’s how to avoid that — and how working with a seasoned real estate expert makes all the difference.

How the Othman Realty Group Helps You Nail the Right Price:

At Othman Realty Group, we don’t guess when it comes to pricing your home. With over 40 years of experience in Riverside County, we use real-time data, local trends, and strategic analysis to set the ideal asking price for your property.

Here’s how we determine the best price for your home:

• We analyze recent sales: We look at actual sold prices of similar homes in your specific neighborhood.
• We track local trends: Buyer behavior in Riverside, Moreno Valley, Corona, and surrounding areas can vary, and we know the nuances.
• We develop a pricing strategy Based on your goals, your unique home, and your situation. We position your home to generate strong buyer interest and maximize offers.

Why Overpricing Backfires:

Unfortunately, some sellers still take the “let’s just try it” approach with high asking prices. But that tactic can backfire:

• Fewer buyers will even look: If your price is out of range, buyers may not schedule a showing.
• Your home could sit on the market: A stale listing raises red flags and invites lowball offers. We like to say that time on the market is like acid to your home's value. The longer it sits, the more it gets destroyed.
• You may earn less overall: It is statistically proven that the longer your home sits, the lower your final sale price tends to be. So even though your starting (listing price) was higher, you end up selling for less than if you had listed lower to begin with. 

In fact, according to the National Association of Realtors (NAR), homes that sell within the first 4 weeks of listing usually go for full price. But after 30 days, buyer interest dips, and price reductions often follow (see graph below). data provided in this link 

This graph shows that if a house sells within the first 4 weeks it is listed, it usually goes for full price. Based on experience, that's what usually happens to homes that are priced at or just below current market value. If it’s priced right, buyers will be interested, and, ultimately, willing to pay the asking price – or compete with other buyers and even go over asking.

But if a house isn’t priced right, it doesn’t sell as quickly. And this graph shows that, after the first 4 weeks on the market, the price starts to drop from there. That’s because buyer interest falls off the longer it sits. So, it becomes more likely a seller will either accept a lower offer because that’s all they have, or opt to do a price drop to draw people back in.

What This Means for Sellers in Riverside County:

If you’re planning to sell your home in Riverside, Moreno Valley, or Corona, pricing it correctly is more important than ever. The goal is to generate strong interest early and sell before the listing grows stale — not wait and chase the market downward.

Let our team at Othman Realty Group guide you through every step. We’ll help you avoid the price drop trap and get the best possible outcome for your home.

Bottom Line:

If you’re thinking about selling, don’t let overpricing stall your momentum. Let’s connect and create a smart, local pricing strategy that gets your home sold quickly and for the right price.

📞 Call or text us at (951) 333 5100 / (951) 498-5152‬

📍 Serving Riverside, Moreno Valley, Corona, and surrounding areas

🧭 Othman Realty Group | Professional Realtors and Trusted Advisors Since 1985

DRE #00961200 / #00928035