Patience Won’t Sell Your House. Pricing Will

Patience Won’t Sell Your House. Pricing Will | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert

Many homeowners believe the right buyer will eventually fall in love with their home and pay their asking price if they just “wait it out.” In today’s housing market—especially in Los Angeles and Beverly Hills—that’s rarely the case. And here’s why.

Homes Are Taking Longer To Sell

According to Realtor.com, homes are spending more time on the market:

“The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”

Here in Los Angeles, we’re seeing the same trend. Even in ultra-desirable areas like Beverly Hills Flats, Holmby Hills, and Bel Air, properties can sit unsold for months if they’re not priced correctly. With more homes available at every price point, buyers are being far more selective.

List Prices Have Flattened

One of the most important factors sellers overlook is that asking prices have not been climbing the way they used to. For the past three years, list prices have stayed relatively flat nationwide—and that’s true locally as well.

Gone are the days of 2021–2022 when Beverly Hills estates could be priced almost anywhere and still attract multiple offers. Today’s buyers are savvy, data-driven, and highly price sensitive. If your list price feels even slightly out of line with market value, they’ll skip your property and pursue the next option in Bel Air, Holmby Hills, or the Hollywood Hills.

What This Means for Sellers in Los Angeles

If you’re hoping to sell in today’s Los Angeles luxury market, patience won’t sell your house—pricing will. Setting your price based on what your neighbor sold for last year, or what you wish the home could bring, often backfires. Instead, you need to be priced where the market is today.

In Beverly Hills, for example, I’ve seen multimillion-dollar listings that lingered unsold for months under other agents. Once repositioned at the right price with a fresh marketing strategy, they sold quickly—sometimes even attracting multiple buyers who had been waiting for a realistic opportunity.

Four Red Flags Your Price May Be Too High

According to Bankrate, here are common warning signs that your asking price is out of sync:

• Few or no showings

• No offers, or only lowball offers

• Negative feedback from buyers after showings

• Your listing sits longer than the local average

If you’re seeing these patterns in Beverly Hills or Los Angeles, the market is sending you a clear message: buyers don’t see the value at your current price.

The Solution

Work with a top local agent who understands the nuances of the Los Angeles luxury market. Even a small adjustment in price—paired with expert staging and presentation—can reposition your home as the best option in its category. In my 36 years of selling Beverly Hills and Los Angeles luxury real estate, I’ve found that pricing strategy makes all the difference.

And remember, if you’ve owned your home for 5, 10, or 20 years, your equity has grown substantially. Even if today’s sale price feels below the pandemic peak, you’re still well ahead financially.

Bottom Line

Patience isn’t a strategy. Pricing is.

If your Beverly Hills, Bel Air, or Los Angeles home isn’t selling, don’t wait for the “perfect” buyer—price it right for today’s market. Buyers are out there, but they’re not going to overpay when so many options are available.

Work with an experienced agent who can analyze the latest comps, understand buyer psychology, and position your property to stand out. The right price unlocks the sale.

Call Christophe Choo at (310) 777-6342 to tour your future home "HERE" or click "HERE" to estimate your home value