Many sellers make the mistake of over-pricing a home for sale, thinking that if it does not sell, they can always come down and will still wind up with a better sale price than pricing for the market.
Most often the opposite is true. Buyers can easily find a more fairly-priced house more appealing and sellers can find that what would have been “their buyer” went and bought someone else’s house. Ouch.
The truth is, over-pricing can lead to longer market times and the longer time on market, the less value the house has in the eye of the home buyer, especially in a fast-moving real estate market like the Seattle area.