How to Price Your Wichita Home Right the First Time

Getting the price right on day one is the single biggest lever you have as a seller. It drives showings, offers, days on market (DOM), and ultimately your net proceeds. Price too high and you “burn” your best buyers in the first two weeks; price smart and you create momentum that protects your bottom line.

Here’s a clear roadmap to nail it.

Why overpricing backfires (even in a “good” market)

• You miss your real buyers. Serious shoppers have saved searches with hard max prices. If you’re just above a common threshold, you won’t even appear in their feed.

• DOM = leverage. The longer you sit, the more buyers assume “something’s wrong,” which weakens your negotiating power.

• Price drops chase the market. You’ll often net less after reductions than you would have with a strong, market-right price upfront.

The 5-point pricing framework

1. Micro-location reality check
   Don’t price by ZIP code averages. Wichita is hyper-local—think neighborhood + school district + street position (cul-de-sac vs. cut-through, backing to green space vs. a busy road).

2. Condition & updates (buyer perception test)
   Walk your home like a buyer: roof/HVAC age, windows, flooring, kitchen/bath recency, paint/light fixtures. Two homes with the same square footage can be $15–$40k apart in perceived value based on updates and maintenance.

3. True comps (not just “nearby”)
   Pull sold homes within the last 90–180 days that match bed/bath, size (±10%), age, lot type (corner, lake, wooded), and garage count. Adjust for finished basement SF, outbuildings, and outdoor living. Aim for 3–5 best comps; average their adjusted prices to set your baseline.

4. Active competition (today’s shelf)
   Buyers compare you to what’s currently on the market. If three nearly identical homes are listed at $360–370k and sitting, that’s a warning; if similar homes under $350k are flying, lean into that lane.

5. Absorption & DOM (speed matters)
   Look at months of inventory in your price band. If your segment is moving in 10–20 days, design a price that creates urgency in week one.

Smart “bracket” pricing (how buyers actually search)

Portals (Zillow, Realtor.com, etc.) use min/max price fields. Price on the threshold to capture two audiences:

• Example: List at $350,000 (not $349,900).

  • You’ll show to buyers with max $350k and to those who set min $350k.

• Do the same at other common brackets: $250k, $300k, $400k, $500k, etc.

This tiny tweak widens your reach without sacrificing value.

A quick case study (what the market rewards)

• Home A lists at $365k because “there’s wiggle room.”

  • Week 1: few showings; buyers pick newer $349–359k competitors.

  • Week 3: price drops to $355k; still stale (DOM = red flag).

  • Nets $350k after second reduction + concessions.

• Home B lists at $350,000 with strong photos, open-house push, and clear comps.

  • Week 1: heavy traffic, 2–3 offers.

  • Nets $355k with favorable terms (short inspection, minimal concessions).

Lesson: The right list price creates negotiating power.

Build your number (simple worksheet)

1. Average of 3–5 adjusted sold comps = $____

2. Check active competition window (±$15k of target): Are you more updated or less? ±$____

3. Price-tier strategy (round to nearest bracket): $____

4. Launch plan (photos, floor plan, open house) ready? If yes, you can push the upper edge; if not, stay conservative.

Target list price: $________ (aim to be the best value in your bracket, not simply the cheapest)

When to move the price (without losing momentum)

• By Day 10–14: If you have low showings or no offers, the market is telling you something.

• Don’t “nibble” $2,000 at a time. Drop to the next search bracket so new buyers actually see you.

• Refresh your lead photo, headline, and remarks when you adjust.

Pro tips that protect your net

• Be the best “click” at your price. Pro photos, bright rooms, simplified surfaces, and a clear floor plan earn more showings at the same list price.

• Know your appraisal plan. If pushing the top of the comp range, have improvements and comps organized to support value.

• Offer strategy matters. Short acceptance window, clean terms, and a great first weekend can yield better bids than a higher but messy list price.

Ready for your number?

I can run a data-driven pricing snapshot for your neighborhood: true comps, active competition, and a bracket strategy designed to maximize your first two weeks on market.

Call me at 316-202-5515 for your FREE equity analysis!

Lesley Perreault, REAL Broker, LLC.