Princeton Town Topics – Let’s Talk Real Estate – April 2, 2025
WHEN IS THE RIGHT TIME TO LOWER YOUR LISTING PRICE?
Pricing a home correctly is both an art and a science. But what if your listing isn’t generating offers? Knowing when to adjust the price is key to keeping your home competitive.
A general rule of thumb: If your home has been on the market for two weeks with no offers, it might be overpriced. Serious buyers often act fast when they see a good deal. If it’s been three weeks with no more showings, interest may have waned, signaling the need for an adjustment.
Another crucial factor is new competing inventory. If similar homes are hitting the market at lower prices, your home may no longer be the best value. Monitor market conditions, listen to feedback from showings, and adjust proactively rather than reactively.
Price reductions should be strategic—not just dropping the price, but repositioning it to attract buyers while staying competitive in the market.
