The Hidden Cost of Overpricing Your Brooklyn Home
By Peter Mancini | Pen Realty | Member of REBNY & BNYMLS
In Brooklyn’s dynamic real estate market, there’s one mistake even savvy sellers make—pricing too high, too soon.
Whether you’re in Park Slope, Bay Ridge, or Dyker Heights, pricing your home is not just a numbers game—it’s a strategy. And if you’re basing that number on your neighbor’s success, your renovation costs, or your emotional attachment, it might cost you thousands in the end.
Why Price Matters More Than Ever
According to The Wall Street Journal, homes that hit the market at the right price in the first 30 days consistently sell faster and closer to asking. When sellers aim too high, they often end up chasing the market down—resulting in repeated cuts and reduced buyer trust.
The New York Times recently echoed this: buyers today are data-driven and quick to pass on listings they feel are overpriced. Add in insights from The Real Deal, which show that repeated price cuts can hurt your listing’s momentum, and the picture becomes clear.
The Pen Realty Approach: Data First, Always
At Pen Realty, we use a layered pricing strategy that blends:
-
📊 Recent sales comps
-
📍 Neighborhood-specific market trends
-
⏱️ Absorption rates — helping us gauge whether buyers are acting fast or holding back
-
👀 Buyer behavior — what’s working right now on the ground
If inventory is tight, we may price slightly above market to test urgency. If buyers are hesitant, we adjust quickly. Our goal is always to position your home as the best option in its category — so it doesn’t just list, it sells.
“Your listing gets one shot at a first impression. Let’s make sure it’s the right one.”
— Peter Mancini
Real Estate is Emotional — But Pricing Shouldn’t Be
We understand your home is filled with memories. But the market responds to value, not sentiment. That’s why having a pricing plan based on real numbers and proven strategy is your best path to maximizing value and minimizing days on market.
And when it comes to prepping your home to sell, we’ve got you covered there too. Our Brooklyn Home Seller’s Guide walks you through every step — from staging tips and showings to final negotiations.
Your Next Move, Made with Confidence
At Pen Realty, we believe in delivering #ASignatureExperience. That means putting you first, communicating transparently, and leveraging the best data and tech to help you win in today’s market.
Whether you’re ready to sell or just curious about your home’s value, let’s connect.
📬 Email: [email protected]
🌐 Explore more: penrealty.net
💜 Support a Cause Close to My Heart
We proudly support CaringKind NYC, the heart of Alzheimer’s and dementia caregiving in New York. Join us in making a difference.
Don’t Miss the Vlog
Subscribe to my YouTube channel for more expert tips, seller stories, and Brooklyn market insights: @pmpenrealty
