If You’re a Seller Who Thinks Your Home Is Worth Its 2020 Price, Think Again

Let’s take a trip back to 2020 for a moment. Remember when toilet paper was a hot commodity, Zoom parties were the norm, and the real estate market was on fire? Home prices soared as buyers scrambled for more space and low interest rates. If you were a homeowner back then, you might remember seeing your property’s value skyrocket almost overnight.

But here’s the thing: the world has changed a lot since those days, and so has the housing market. If you’re thinking of selling your home now and expecting the same price you could have gotten at the peak of 2020 or 2021, it’s time for a reality check. Let’s break down why today’s market isn’t the same as the pandemic boom—and what you can do to set realistic expectations (and still come out ahead).

What’s Changed Since 2020?

• Interest Rates Have Risen: Back in 2020, mortgage rates were at historic lows. Today, they’ve climbed significantly, which means buyers can’t afford as much house for the same monthly payment.
• Buyer Demand Has Shifted: With affordability stretched, there are fewer bidding wars and less frenzy. Buyers are pickier, and homes are sitting on the market longer.
• Inventory Is Catching Up: More sellers are listing their homes, so buyers have more choices. That means your home needs to stand out—and be priced right—to attract offers.

Why 2020 Prices Aren’t the Norm

The prices we saw in 2020 and 2021 were fueled by a unique set of circumstances—low rates, high demand, and a desire for more space. Now, with the market stabilizing, those sky-high prices aren’t guaranteed. In many neighborhoods, prices have plateaued or even dipped slightly as the market balances out.

Think of it like the stock market after a big rally: what goes up quickly often comes back down to earth. That doesn’t mean your home isn’t valuable—it just means the days of wild over-asking offers are behind us, at least for now.

How to Price Your Home Right (and Still Win)

• Get a Fresh Market Analysis: Work with a local real estate expert who knows what’s selling right now—not two or three years ago. The Bowman Group brokered by eXp Realty
• Be Open to Feedback: If your home is lingering on the market, listen to what buyers are saying. Sometimes a small price adjustment can make all the difference.
• Focus on Presentation: Staging, repairs, and curb appeal matter more than ever. A move-in-ready home attracts serious buyers willing to pay a fair price.

The Upside of Today’s Market

While you might not get that 2020 windfall, today’s market still offers plenty of opportunity. Many sellers are seeing strong, fair offers from buyers who are serious about making a move. Plus, if you’re buying another home, you’ll benefit from a more balanced market and less competition on your next purchase.

The bottom line? Pricing your home based on today’s realities—not yesterday’s headlines—is the smartest move you can make. With the right strategy and a little flexibility, you’ll set yourself up for a successful sale in 2025.