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When Should You Consider a Price Reduction?
No seller wants to reduce their list price, but staying at the wrong price too long costs more than the reduction itself. Here is how to read market feedback and decide when to adjust.
Video coming soon
The key takeaways are below in the meantime.
Written by Bri Bond-Erwin
Key Takeaways
- Days on market is one of the clearest signals that a listing may need a price adjustment
- If your home is getting showings but no offers, buyers are seeing it but not choosing it. Price is often the reason
- If your home is not getting showings at all, it may be priced above the range buyers are searching in
- Reducing too slowly can cause a longer market time, which itself signals to buyers that something may be wrong
- A price reduction is not failure. It is a decision to align your expectations with what the current market is telling you
- Your agent monitors showing feedback and market data to help you decide if and when a reduction makes sense
Transcript will be available when the video is recorded.
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