Price Reduction Strategies

Has your home been sitting on the market too long?

When to Consider a Price Reduction — And How to Do It Right

You’ve cleaned, staged, photographed, and listed your home with high hopes—and then…nothing. Days or even weeks pass without any serious offers. If this sounds familiar, you're not alone. Many sellers find themselves wondering if a price reduction is the right next step. It often is—but only if it’s done strategically.

Here are some key tips for knowing when and how to reduce your home’s price the right way:

1. Give It Time—But Not Too Much

A common mistake is waiting too long to make a change. Most listing activity occurs in the first 2-3 weeks, when your home is fresh on the market. If you've had minimal showings or no offers in that window, it may be time to act. In a competitive market, buyers move quickly. If you're not capturing their attention early, they may have already moved on.

Tip: Reassess your pricing after 14–21 days on the market with no serious interest.

2. Study the Feedback

If buyers or agents are touring your home but not making offers, that’s a signal. Ask your agent to collect feedback after each showing. If the common thread is price—"It's out of our budget," or "We liked it but found better value elsewhere"—that’s your cue.

Tip: Use feedback as a tool, not a rejection. Honest comments are valuable insight for repositioning your home in the market.

3. Don’t “Chase the Market”

The worst pricing strategy? Making several small reductions over time. Buyers notice—and it can make your home look stale or like something’s wrong with it. Instead, make one meaningful price correction that brings your home into line with current buyer expectations.

Tip: A typical price reduction should be at least 2–5% of the original listing price to make an impact.

4. Re-Evaluate Comparable Sales

Markets shift. A home priced accurately three months ago might be overpriced today. Revisit your CMA (Comparative Market Analysis) and look at pending sales and recently sold homes in your area. Pay attention to those that sold quickly—those are your real competition.

Tip: Focus on what buyers are willing to pay now, not what your home was worth last season.

5. Don’t Take It Personally

Your home holds memories, effort, and pride—but buyers see it through a different lens: value, location, and condition. If the market says your price is too high, adjusting isn’t failure—it’s smart strategy.

Tip: View your home as a product in a marketplace. A well-priced home sells.

6. Pair a Price Drop with a Marketing Push

Don’t just lower the price—relaunch your listing. Update the photos, tweak the description, and refresh your marketing strategy. This can generate renewed interest and make the listing feel “new” again.

Tip: Consider re-listing the home with a new MLS number or highlighting the price reduction prominently online and in social media posts.

Final Thought: The Right Price Attracts the Right Buyer

A home that’s priced right will sell—sometimes even attract multiple offers. If your home is lingering without offers, a strategic price adjustment could be the key to unlocking a successful sale.

Thinking about a price adjustment for your home? Let’s review the market data together and make a plan that works.