If you’re thinking about selling your home here in San Pedro or Rancho Palos Verdes, your goal is likely the same as every other homeowner: to sell quickly and for the best possible price. But in today’s market, we’re seeing a common misstep that can prevent both of those things from happening: an overly ambitious list price.

Let’s be honest. The market has shifted from the ultra-competitive frenzy we saw a couple of years ago. As we noted in our Mid-Year Market Review, homes are simply taking a bit longer to sell. In San Pedro, the median Days on Market (DOM) is around 18 days, while in Rancho Palos Verdes, we’ve seen that number increase to 29 days.

This isn’t a sign of a weak market, our coastal communities remain incredibly desirable. Instead, it’s a sign of a balanced market. Buyers have more options to choose from, and with borrowing costs still elevated, they are more discerning than ever. That brings us to the most crucial factor for sellers right now: price.

The Trend That Every Seller Needs to See

Many homeowners remember the steep climb in home values during the pandemic and assume that trajectory has continued. However, the data shows a different story. For the last three years, the median list price has essentially flattened out.

Sellers who want to be competitive can’t ignore this trend.

What does this chart tell us? It shows that you can’t simply price your home based on what your neighbor sold for in 2022 and expect the same outcome. Today’s buyers are well-informed and price-sensitive. If you list too high right out of the gate, you risk being overlooked. A home that’s priced right from day one is what grabs attention and generates serious offers.

4 Signs Your Home Might Be Overpriced

If your property is already on the market and you’re not seeing the activity you expected, the market might be sending you a message. Here are a few common red flags:

1. You’re not getting many showings. A lack of interest from buyers is often the first sign that the price isn’t aligning with the market’s expectations.
2. You haven’t received any offers. Even in a balanced market, a well-priced home in a desirable area like the South Bay should generate offers. If you’re only getting lowball offers, or none at all, it’s time to re-evaluate.
3. The feedback from showings is consistently negative about the price. If buyers love the home but are balking at the price, that’s a clear signal.
4. Your home has been on the market longer than similar homes in your area. The longer a house sits, the more buyers begin to wonder if there’s something wrong with it, creating a stigma that can be hard to shake.

If any of these sound familiar, remember that waiting it out is rarely the solution. A strategic price adjustment is.

The Right Strategy for a Successful Sale

Pricing your home isn’t a guessing game. As local real estate professionals, we don’t just pick a number out of thin air. We design a pricing strategy that gives your home the best chance to attract immediate interest.

• We study actual sales data for comparable homes right here in San Pedro and on the Peninsula, not just what other homes are listed for.
• We analyze how buyers are behaving in our specific market—what they’re willing to pay now, not what sellers were hoping for last year.
• We create a strategy to make your home stand out, generate urgency, and encourage strong, competitive offers.

Even a small adjustment can be enough to bring the right buyers through the door. And while you might not get the peak-pandemic price, remember how much home values have appreciated over the last decade. The equity you’ve built is substantial, and you’re still in an excellent position to make a successful and profitable sale.

Bottom Line

In this market, patience isn’t a strategy—pricing is. If your home isn’t getting the attention it deserves, the market is telling you something. Listening and responding with the right price will change everything.

Mike Harper and Peter Hazdovac are both licensed Realtors® and co-owners of HH Coastal Real Estate, an independent local brokerage. For more info, visit www.hhcoastal.com.