The Truth About Price Reductions: When (and When Not) to Lower Your Price

If your home is on the market around Lake Keowee and you’re not getting any offers, it’s completely normal to start considering a price reduction. This is often the first suggestion that sellers hear. But is it the right move for you?

In our experience, a price drop can be a smart, strategic decision—but it can also backfire if done prematurely or without a clear understanding of the situation. Before you decide to lower the price, let’s take a moment to assess what’s really going on and make a choice that aligns with your goals.

Let’s explore when a price reduction makes sense—and when it might not be the best option.

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 have been waiting for the right opportunity. If it doesn’t gain traction during this initial window, it usually indicates that something isn’t quite right.

Sometimes the issue is pricing. 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—simply dropping the price won’t address the underlying issue.

That’s why we always advocate for a strategic approach, especially during those first crucial days.

What the Data Is Telling Us

We’re not alone in noticing an uptick in price reductions lately.

Redfin reported that 24.3% of listings had at least one price drop in March 2025—a significant increase from just a year prior. 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; 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 we’d recommend it:

• You’ve had consistent showings, but no offers. This often means buyers see the home as a fit—but not at the current price.
• Similar homes nearby have sold—and yours hasn’t. If the comparable sales are clear, buyers are likely comparing, and we need to reassess our position.
• The original list price was more aspirational than strategic. This can happen, especially if you launched with expectations based on last year’s market highs.

In these situations, a well-timed price adjustment—combined with a fresh marketing push—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. Dropping it won’t necessarily resolve the issue.

Before we consider any adjustments, we’ll ask:

• Was your home marketed to its full potential? High-quality visuals, 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 couldn’t get in—or had limited availability to view the home—we may not have fully gauged the demand yet.
• Were early offers dismissed too quickly? I’ve seen sellers turn down strong offers simply because they didn’t meet the list price. The first offer often starts the conversation, not ends it. With the right counter and data-driven negotiation, we can still reach your desired outcome.

Lowering the price hastily, without adjusting your approach, 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 moves, we take a step back and audit 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 round didn’t gain traction, we’ll try again—with fresh perspectives and renewed energy.

Sometimes, simply repositioning the listing—without changing the price—can make all the difference. I’ve seen properties sell at full asking price after we updated the photos, reworded the description, or altered 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 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 the options. Because reducing the price is typically a permanent decision.

Selling Smart in 2025

In this market, pricing is crucial—but it’s not the only tool in our toolkit. The goal isn’t just to sell; it’s to sell with confidence, clarity, and the best possible outcome for your next steps.

If you’re feeling uncertain about what to do next—or wondering whether a price drop is the right move—I’m here to help you think it through.

Let’s take a look at your home, your local market, and the feedback from potential buyers to make the decision that makes the most sense for you.

Your home deserves a thoughtful plan, not a knee-jerk reaction.