Why Overpriced Homes Sell for Less: A Maryland Waterfront Story

Short answer: When a house is priced above what buyers think it's worth, most buyers don't

make a low offer. They skip it. The house sits, the price drops, and buyers start asking what's

wrong with it. In my experience, a house priced right from day one usually sells faster and often

for more than the same house would after months of price cuts.

I'm Bonnie Fleishman, a Realtor and Associate Broker with Douglas Realty in Pasadena,

Maryland, and I've been pricing and selling homes in Anne Arundel County and across Maryland

since 1990. Here's a real example of what overpricing costs, and what to do instead.

What happens when a house is priced too high?

Here's what most sellers expect: "We'll start high. If a buyer thinks it's too much, they'll make an

offer and we'll negotiate."

Here's what usually happens instead:

1. Buyers search by price range. A house priced $50,000 too high gets shown to buyers

shopping in the wrong price range. They compare it to better houses and move on.

2. The right buyers never see it. The people who would love the house at the right price have

their search capped below your number.

3. The first two weeks go by. That's when a new listing gets the most attention, and it's gone.

4. The price drops. Now the listing shows a price history, and buyers wonder what's wrong

with it.

5. Buyers make lower offers because the house has been sitting, not because of the house

itself.

Buyers skip overpriced homes. They don't make offers on them.

A real example: the waterfront home that sat for a year

This one still sticks with me.

A family's waterfront home on the bay side in Ocean City went on the market in July 2023 at

$955,000 with another brokerage. The house didn't sell. Over the next year, the price came

down three times:

• $875,000 in September 2023

• $795,000 in October 2023

• $740,000 in June 2024

In July 2024, after 357 days on the market and $215,000 in price cuts, the listing came off the

market. It never sold.

The sisters selling the house had lost their dad, and Mary, who lived nearby, was the one

keeping up the property. After a year of that, she was worn out.

When I walked in, I saw a great house that wasn't showing like one. The floor plan was narrow

and a little unusual, the furniture was fighting it, and the photos online missed the best part: the

view.

So we went back to basics:

• Mary moved furniture out and staged the house to fit how it was built.

• We washed every window.

• We waited for the sunniest day and shot new photos. Some of them are still my favorite

listing photos ever.

• And I priced it where the house and the view actually belonged.

We relaunched in October 2024 at $775,000. It was under contract in 6 days and closed a month later at $755,000.

That's $15,000 more than the last price it reached after a full year on the market. And Mary got

her life back.

Why did the same house sell in 6 days?

The house didn't change. The water didn't change. Three things did:

The price matched what buyers saw. At $955,000, buyers compared it to homes they liked

better. At the right number, it was the house to beat.

It looked like the house it was. Staging and clean windows sound small. On a waterfront home,

the view is what you're selling, and buyers need to see it in the photos before they'll come see it

in person.

It launched fresh. A relaunch with new photos and a new price got the attention a brand new

listing gets in its first two weeks.

How do you know what the right price is?

The right price isn't the highest number someone told you, and it isn't what you need to walk

away with. It's what buyers in your area are paying right now for homes like yours.

Here's how I work it out with my sellers:

• Recent sales of homes like yours nearby, adjusted for real differences like condition, lot,

water frontage or a finished basement.

• What's for sale now, because that's what buyers will compare you to.

• What didn't sell, because expired listings show where buyers said no.

How fast homes are selling?

In Anne Arundel County, homes that closed in the 30 days before late September 2026 sold in a median of 13 days at a median of 100% of list price.

The homes still on the market had been sitting a median of 44 days. (Bright MLS, Anne Arundel County residential, as of late September 2026.) The difference between those two groups is almost always price.

Then I show you a net sheet with two or three price options, so you know what you'd walk away with at each one before we ever list.

Isn't it smart to start high and leave room to negotiate?

It feels smart. It usually isn't. There's a difference between pricing at the market and pricing above it. Pricing at the market brings in the most buyers, and when more than one buyer wants a house, that's when you get real negotiating power. Pricing above the market brings in fewer buyers, and the ones who do look hold the cards, because they know the house has been sitting. If you want room to negotiate, the best way to get it is more buyers, not a higher sticker price.

What are the most common pricing mistakes sellers make?

• Pricing to what they need, like paying off the mortgage or buying the next house, instead of what the market will pay.

• Pricing to the agent with the highest number. A high suggested price can win the listing and lose the sale.

• Counting upgrades at what they cost instead of what buyers will pay for them.

• Waiting too long to adjust. If a house isn't getting showings in the first two weeks, the market is telling you something.

• Thinking the photos don't matter. Online is where buyers decide whether to visit.

What should I do if my house has been sitting? Don't keep cutting the price $5,000 at a time and hoping. Step back and look at three things:

6. Price. Is it priced where recent sales say it should be?

7. Presentation. Do the photos, staging and description show the house at its best?

8. Exposure. Is the right buyer actually seeing it, with video, social media and ads, not just a sign in the yard?

If your listing has expired or you've taken it off the market, a fresh relaunch can work, like it did for Mary.

Frequently asked questions

Why isn't my house selling?

Most of the time it's price. Sometimes it's how the house looks online or who's seeing it. If you're getting showings and no offers, it's likely price. If you're getting very few showings, it could be price, photos, or both.

Will buyers make an offer on an overpriced house?

Some will, but most just skip it. Buyers compare every house to the others in their price range, and an overpriced one loses that comparison.

How long should a house take to sell in Anne Arundel County?

In late September 2026, homes that sold had a median of 13 days on market in Anne Arundel County. It varies by price, location and season, so ask for numbers for your neighborhood.

(Bright MLS)

Is it bad to lower the price?

Not if you do it early and do it once, with a plan. A string of small cuts is what hurts.

What if my house sat with another agent?

A relaunch with a new price, new photos and a new plan can make it feel like a new listing. That's what happened with Mary's house.

Want to know what your home would really sell for?

I'm Bonnie Fleishman, a Realtor and Associate Broker with Douglas Realty in Pasadena,

Maryland, helping homeowners across Anne Arundel County price and sell their homes. Before

we list, you'll know your price, your net and your dates. I give honest advice, and I don't

pressure people. That's not my style. Call or text me at (443) 994-1468.

Bonnie Fleishman, Associate Broker | Douglas Realty, LLC | 8221 Ritchie Hwy, Ste 101, Pasadena,

MD 21122 | Office: (410) 255-3690 | Equal Housing Opportunity. Past results don't guarantee

future results. Market numbers are from Bright MLS for the area and dates shown. If your home

is currently listed with a real estate broker, please disregard this. It is not our intention to solicit

the listings of other real estate brokers.