NEED ADVICE AND INSIGHT. Bought a new home a month ago, and am now afraid I may not sell my current home for the amount I need.

Long story short. Got a pre approval 2 months ago. Our house was appraised by the bank at $900,000. At the time, a very low number in my neighbourhood in what they were going for.

Fast forward a few weeks later. The “shift” had happened, prices levelled about. Our realtor didn’t know an accurate number to use as a baseline, since a house hadn’t sold since the shift. One comes up a few doors down from mine, sells for $930,000. A descent bit less than what they were going for at the peak, but still a good amount. Great. I made the now regrettable decision of buying a new place just a day or two after this for $985,000. As long as we sell for 9 we’re good. which seemed like a slam dunk, easily attainable number, even after the shift.

Barely a month after that house sells, mine hits the market. Been up for a week. Viewings died down after the first week. Only got 2 offers on offer day, the best one being 70 grand less than what we ideally need. Now I feel doomed, hopeless. Never in my wildest dreams did I think things could change and drop this quickly as drastically. I’m stressed af im not gonna be able to get what I need to close on the other house. I feel defeated, so I figured hell, why not post on Reddit and get some real world feedback from people who are either currently experiencing this, have experienced it, or can offer any advice. Thank you for listening to my rant, and would appreciate all insight and feedback.

UPDATE: hello everyone. Happy to say about a week after I made this post, we ended up getting the offer we needed. All that worry for nothing lol. I will say say though, I’m glad we sold when we did. Cause even when we sold very beginning of the month till now, it’s dropped even further. Just rode it out, and thank god we got what we needed. Thanks to everyone who offered valid support and advice. To the haters and more critical folk. Smell ya later I guess?