It's been a while since we've read headlines like CNBC's "Home sellers are lowering their prices

at the fastest clip since 2019." Seller's market conditions have made "bidding wars" a more common

topic—and for the most part, there remains a seller-friendly, below-average supply of homes for sale

throughout the nation. Still, reports that the upward movement of sale prices has begun to flatten are

increasingly evident.

For local homeowners who are thinking of selling their St. Cloud homes, the topic of just what is a

fair price to set is the question of the hour. One approach is to look back to less seller-friendly eras to

revisit the guidance being offered at that time.

Back then, Inman News was offering tips to buyers with articles like "Solving the Mystery of Fair

Market Value." The best way to determine FMV—"the holy grail of real estate mysteries"— for any home

meant scouring the landscape for the lowest legitimate offer that had been tendered for truly comparable

properties. It wouldn't necessarily be the listing price (although it might be). Ideally, it would be the

publicly available recent sale prices paid for three such comparable homes. But additionally, "the listing

prices of homes that have not been sold can be informative."

In the same timeframe, Houselogic went all-in on that detail with "6 Reasons to Reduce Your

Home Price." Absent the safety zone of seller's market conditions, they offered homeowners half a dozen

signs that it might be best to lower their original asking prices. The six were not subtle: "no lookers," "lots

of lookers but no offers," "no offers despite similar homes having been sold," etc.

Number 6 was the reddest of red flags: "new listings have been added"—but at lower prices.

The notion that homeowners now thinking about selling their own St. Cloud homes should

entertain the possibility of lowering an asking price before they've even established one might seem to be

unduly pessimistic—but that could be a pessimistic way to look at it. Real estate journalist Meera Pal

recently observed a verity that often holds true in buyers' and sellers' markets (and everything in

between): "Even though it is counterintuitive, pricing your home slightly under market value can

sometimes land you the highest sale price."

The "price low, sell high" strategy isn't universally the best pricing solution—every property is

different. Arriving at that calls for an experienced Realtor®'s research and expertise—and I would be

delighted to offer mine! Call anytime.

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Multiple Office Locations To Serve YOU!

Saint Cloud 320-259-4554

Princeton 320-983-3555

Sartell 320-259-4554

Little Falls 320-259-4554

Minneapolis 763-565-2000

Hutchinson 320-455-9127

Litchfield 320-298-1140

Premier Real Estate specializes in MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center, Brainerd, Nisswa, Aitkin, Albany, Coon Rapids, Sauk Rapids and more!