When to Lower Your Home Listing Price
Setting the right price is one of the hardest parts of selling your home. Your asking price should reflect current market conditions, not just what you hope to earn. If your home has been sitting on the market without serious interest, it may be time to reevaluate your strategy — and possibly adjust your listing price.
Signs It’s Time to Lower the Price
- Your listing has been active for 3–4 weeks with no offers.
- You’re getting showings but no repeat interest or second visits.
- Feedback from buyers or agents consistently mentions “overpriced.”
- Competing homes nearby are selling faster at lower prices.
If your listing isn’t attracting offers close to your sale price, it may be time to review how your pricing compares to similar homes on the market. A small adjustment can renew attention and signal flexibility to serious buyers.
How Much Should You Lower the Price?
For most sellers, a reduction of 2% to 5% is enough to regain visibility without drastically cutting into your bottom line. The key is to make the new price meaningful — buyers notice real changes, not small token reductions.
For example, if your home is listed at $405,000, dropping it to $399,900 can make a psychological difference while also putting your property into a lower search bracket for online buyers.
How Long Should You Wait Before Reducing?
In a balanced market, waiting around 21–30 days is reasonable before adjusting. However, if you’re getting zero inquiries after the first two weeks, that’s a clear signal your list price may be too high.
Markets change quickly — and online platforms like Zillow, Realtor.com, and the MLS favor fresh, active listings. A well-timed price adjustment can push your listing back toward the top of search results, catching new buyers’ attention.
FSBO Tips: Adjusting Without Losing Leverage
FSBO sellers should take a fresh look at how they’ve priced their property — learn more in our guide on how to price a For Sale By Owner home. Before you adjust, check active listings nearby, note their days on market, and compare features. Even a small tweak can boost your visibility across MLS feeds and buyer alerts.
Common Mistakes to Avoid When Lowering the Price
- Waiting too long: Overpriced homes go stale and lose momentum quickly.
- Dropping too little: A $1,000 or $2,000 reduction often won’t change buyer perception.
- Reducing too often: Frequent changes can make buyers wonder what’s wrong with the property.
- Ignoring feedback: Listen to showing feedback — it often points directly to pricing issues.
Ready to Reposition Your Listing?
If your property has been sitting on the market, revisit our step-by-step guide on how to price your home to sell to stay competitive. With Brokerless, you can update your MLS listing at any time — without paying a 6% commission.
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