If your home is on the market in Livingston County and you’re not receiving any offers, it’s understandable to start considering a price reduction. This is often the first suggestion sellers hear from friends or family. But is it the right move for you?
From my experience, a price drop can be a smart, strategic decision—but it can also backfire if done too soon or without a clear understanding of the situation. Before you make any drastic changes, let’s take a moment to assess what’s really happening in the market and how to make a decision that aligns with your goals.
Let’s explore when a price reduction is a good idea—and when it might not be necessary.
The First 7–10 Days Are Critical
When your home first hits the market, that’s when it garners the most attention. It appears in saved searches and catches the eye of motivated buyers who’ve been keeping an eye on the market. If your listing doesn’t gain traction during this initial window, it usually indicates that something isn’t quite right.
Sometimes the issue is indeed the price. But just as often, it’s about how the home is presented or how well it’s marketed.
If the photos don’t highlight your home’s best features, if staging wasn’t done effectively, or if the marketing didn’t reach the right audience—dropping the price won’t fix the underlying issues.
That’s why we always advocate for a strategic approach, especially during those first critical days.
What the Data Is Telling Us
It’s not just me noticing an uptick in price reductions lately.
According to Redfin, 24.3% of listings had at least one price drop in March 2025—a significant increase from the previous year. This trend reflects a more cautious buyer pool. With higher interest rates and tighter budgets, buyers are taking their time and comparing options more thoroughly.
But here’s the key takeaway—homes that undergo multiple price cuts tend to sell for less than those that were priced correctly from the start. Frequent price reductions can signal to buyers that there’s something wrong with the property.
That’s not the impression we want associated with your home. Accurately pricing your property with the help of a knowledgeable real estate agent isn’t just a step in the process; it’s a crucial strategy for launching your listing effectively, attracting offers, and securing the best price possible.
When a Price Reduction Makes Sense
There are definitely times when adjusting the price is the right call. Here’s when I’d suggest it:
- You’ve had consistent showings, but no offers. This often indicates that buyers see potential in your home but not at the current price.
- Similar homes in your neighborhood have sold—and yours hasn’t. If the comparable sales are clear, buyers are likely comparing, and we may be out of sync.
- The original list price was more aspirational than realistic. This can happen, especially if you launched with hopes based on last year’s market highs.
In these scenarios, a well-calculated price adjustment—combined with a fresh marketing strategy—can reignite interest and get your listing back in front of serious buyers.
But…
When You Should Hold the Line
Sometimes, it’s not about the price. Lowering it won’t necessarily resolve the issue.
Before I recommend any price adjustment, we’ll ask:
- Was your home marketed to its full potential? High-quality photos, compelling listing descriptions, and targeted exposure can make a significant difference. If those elements were lacking, we’ll address them first.
- Were showings easy to schedule? If buyers had difficulty booking appointments or had limited availability to view the home, we may not have seen the full demand yet.
- Were early offers dismissed too quickly? I’ve seen sellers turn down solid offers simply because they didn’t meet the list price. The first offer often opens the door for negotiation rather than closing it. With the right counteroffer and data-driven negotiation, we can still achieve your desired outcome.
Lowering the price hastily, without adjusting your marketing strategy, can backfire. It’s not just the price that matters; it’s how buyers perceive the value they’re getting.
What We Do Instead
Before making any changes, we take a step back and evaluate everything:
- We review the photography and staging. Are we showcasing your home’s strongest features?
- We analyze buyer feedback. What insights are emerging from conversations or showing reports?
- We relaunch marketing if necessary. If the initial marketing didn’t gain traction, we’ll revamp it—with fresh perspectives and renewed energy.
Sometimes, simply repositioning the listing—without changing the price—can make a world of difference. I’ve seen properties sell at full asking price after we updated the photos, rephrased the description, or adjusted our promotional strategy. It’s not always about the price; it’s about how the home is presented.
The Real Cost of Overcorrecting
If a price drop is made too steeply—or happens more than once—it can send the wrong message.
In fact, a 2024 NAR report found that homes with multiple price reductions sold for 6.7% less on average than homes that were priced appropriately from day one. This means that repeatedly lowering the price can lead to a lower final sale price than simply pricing it right (and being patient) from the start.
So before we adjust that list price, we’ll explore all available options. Because reducing the price is usually a permanent decision.
Selling Smart in 2025
In today’s market, pricing is crucial—but it’s not the only tool in our toolbox. The goal isn’t just to sell; it’s to sell with confidence, clarity, and the best possible outcome for your next chapter.
If you’re feeling uncertain about your next steps—or wondering if a price drop is the right move—I’m here to help you sort it out.
Let’s take a look at your home, your local market, and the feedback we’ve received from buyers to make the best decision for you.
Your home deserves a thoughtful plan—not a reaction driven by panic.
