Why should sellers price homes to current markets, not past prices?

Sellers should price homes realistically to current market conditions rather than relying on past peak values because overpricing can lead to longer time on market and fewer offers. Pricing slightly below market value can create competition among buyers, sparking multiple offers when inventory is tight. Accurate, data-driven pricing enables homes to sell faster and protects seller equity, especially when mortgage rates remain high and buyer affordability varies across regions.