The Market Has Shifted — and Sellers Need a New Strategy

The Market Has Shifted — and Sellers Need a New Strategy

There’s a Redfin report making the rounds right now with a number that’s enough to make any seller stop scrolling:

$347 billion worth of stale listings nationwide.

That’s not a typo.

Across the country, more than half of all homes currently on the market have been sitting for 60 days or longer. Homes aren’t flying off the shelf the way they were a few years ago, and many sellers are learning the hard way that yesterday’s pricing strategy no longer works in today’s market.

And here in Oxford County, Maine, we’re seeing that shift play out in real time.

The average days on market for the roughly 300 active listings in Oxford County is currently 96 days.

That’s more than three months.

Even more telling is what we’re seeing in the Western Maine mountain towns. In the communities of Bethel, Newry, Hanover, Gilead, Greenwood, and Woodstock, there are currently 89 active listings with an average days on market of 107 days.

That’s over three and a half months on average before a home goes under contract.

What This Means for Sellers

The market hasn’t crashed — but it has normalized.

During the height of the pandemic market, sellers could often:

• Price aggressively

• Skip staging

• Ignore minor repairs

• Still receive multiple offers within days

Today’s buyers are different.

Higher interest rates have changed affordability. Buyers are more cautious, more selective, and taking more time before making decisions. Inventory has also increased, giving buyers options they simply didn’t have a couple of years ago.

The result?

Homes that are overpriced, poorly marketed, or not move-in ready are sitting.

And the longer a property sits, the more buyers begin to wonder:

• “What’s wrong with it?”

• “Why hasn’t it sold?”

• “Will they take less?”

That creates a cycle sellers want to avoid.

The Reality in Oxford County

Oxford County has always had its own unique market dynamics, but even locally we’re seeing a clear shift toward a more balanced market.

An average of 96 days on market tells us something important:

• Buyers are taking their time

• Pricing matters more than ever

• Preparation matters

• Marketing matters

The homes selling quickly are typically the ones that:

• Are priced correctly from day one

• Show well online and in person

• Offer updated photography and strong marketing

• Feel “move-in ready” to buyers

The homes chasing the market with repeated price reductions are the ones contributing to those growing “stale listing” numbers.

Pricing Ahead of the Market vs. Chasing It

One of the biggest mistakes sellers make in a shifting market is pricing based on what a neighbor got six months ago.

That market may no longer exist.

Today, strategic pricing is critical. In many cases, pricing slightly ahead of the market can actually create more interest, more showings, and ultimately stronger offers than starting high and reducing later.

Because once a listing becomes stale, regaining momentum is difficult.

Buyers Still Exist — But Expectations Have Changed

This is important: homes are still selling.

Well-prepared, well-priced homes are continuing to move every week in Western Maine.

But buyers today expect value.

They notice deferred maintenance.
They compare every property online.
They calculate monthly payments carefully.
And they’re far less willing to “settle” than they were during the frenzy of 2021–2022.

What Sellers Should Focus on Right Now

If you’re thinking about selling in Oxford County, the conversation shouldn’t just be:

“What do I want to list for?”

It should be:

• How do we position your home competitively?

• What improvements will matter most?

• How do we make buyers emotionally connect online?

• How do we avoid becoming another stale listing?

Because in today’s market, strategy matters more than ever.

The good news? Sellers who understand the shift — and adapt to it — are still achieving strong results.

The market hasn’t disappeared.
It’s simply demanding a smarter approach.