Let’s get one thing straight: dropping the price is the easiest lever to pull when your home isn’t selling—but it shouldn’t be the first one.
Before even thinking about adjusting the price, you need to look at three critical things:
1. Marketing Accuracy
Is the listing doing your home justice?
Are the photos high-quality? Is the description highlighting the right features? Does it tell a story that resonates with your target buyer? If your marketing doesn’t make people stop scrolling, a price drop won’t fix that.
2. Immediate Competition
Who else is out there?
Take a hard look at what’s available in your price range and neighborhood. Are those homes selling and yours isn’t? If everything is sitting, it might just be a matter of time. But if other listings are moving and yours is stale, then something else is off—and it might be your price, presentation, or both.
3. Buyer Feedback
This is your direct line to the truth.
Are buyers saying the home feels overpriced? Are they pointing out things that need work? Sometimes the fix is as simple as repairing, cleaning, staging, or upgrading something that’s holding people back. You want to make sure you’ve done everything else before turning to a price change.
—
So… When Is It Time to Reduce the Price?
When you’ve done all of the above—tightened up marketing, reviewed the competition, and responded to feedback—but showings are still low or offers are nonexistent, then it’s time.
But here’s the key: don’t just drop it to match the competition. Beat them.
A strategic price adjustment doesn’t just make your home more appealing—it can actually give you negotiating power back. Why? Because a well-positioned reduction sparks a fresh wave of showings, renewed interest, and urgency. Buyers may act fast, thinking they have a narrow window before someone else jumps in. That’s leverage.
—
Final Word
Price reductions aren’t about playing fair. They’re about winning the attention of the market. When the time comes, don’t just lower the price—reframe the value.
The Evans Real Estate Group Blog 