The Question I Get All the Time
One of the most common questions I hear from home sellers is this: “My home has been sitting on the market for a while. Should I lower the price?” It is a fair question and an important one to get right. If you drop your home’s price too early, you might be leaving money on the table. If you wait too long for a price reduction, buyers may start to wonder what’s wrong with your home. So here is how I usually help people think through the decision.
Showings and Offers Tell the Story
There are two key signals I look for: showings and offers. If you are not getting at least 2-3 showings per week, or if you have had 10 showings with no offers, that is a red flag. It usually means that something about your listing is off.
From there, I start by looking at three things.
First: The Condition of the Property
I gather feedback from agents who have shown the property, as well as from buyers or colleagues who have walked through it. Are people noticing things that are turning them off? Is there a lingering odor, a dated kitchen, or curb appeal issues that make the home hard to love?
If the condition is the problem, we can often solve it with small updates or staging improvements.
Second: The Marketing
Even the best homes can sit if they are not marketed properly. I double-check everything from the quality of the listing photos to the language used in the description. Sometimes a seasonal refresh or photo update can make a big difference in how the home presents online.
Third: The Price
More often than not, price is the biggest issue. And when that is the case, a meaningful price reduction is usually the right next step.
A Small Price Cut Is Not Enough
Here is something that surprises a lot of sellers: a tiny price reduction usually does nothing. If your home is listed at $500,000 and you lower it to $490,000, most buyers in the $490,000 range already saw your home at $500,000. That $10,000 price reduction is not likely to reach a new set of eyes.
In general, the price drop needs to be large enough to reach a new pool of buyers. For homes priced under a million dollars, that often means a price reduction of $25,000 to $50,000.
It might feel drastic, but it is more effective than lowering the price in small steps that add up to the same amount over months.
Should You Take the Home Off the Market?
Some sellers consider taking their home off the market and relisting it later, thinking it will “reset” the days on market and make the home look fresh. That may have worked before the internet changed everything, but it does not work now.
Real estate websites, MLS systems, and buyer agents all see the full history of your listing. A short-term break from the market does not erase that history.
If you want to make a bigger impact, try updating your photos with seasonally appropriate shots or refreshing the listing description. But if you are serious about selling, your best bet is to stay on the market and drop the price meaningfully.
Final Thoughts
Pricing your home correctly is part science, part strategy. If your home is not getting showings or offers, it may be time to reassess. Look at the condition, review your marketing, and be honest about the price.
And remember, if you do decide to lower the price, make it count. A significant reduction is more effective than several small ones.
Need a Second Opinion?
If your home is not selling and you are wondering what to do next, I can connect you with a vetted real estate agent in your area. They will help assess your home, your pricing, and your strategy to get things moving. Reach out here and I will make a personal introduction.
