Is Your House Sitting and Not Selling? Here’s Why It Might Be Time to Rethink Your Asking Price

If your home has been listed for a while without serious interest, it may be time to make a strategic move. After years of “seller’s market” momentum, things are shifting—and being proactive could save you time, money, and stress. Below I’ll walk you through: what the data is showing, the warning signs you need to watch for, what you can do next (with your agent), and how to decide whether a price reduction is the right play.

🔍 What the market is telling us

• According to recent data from HousingWire, 42 % of active U.S. listings have had a price reduction, with a median markdown of about 4%. HousingWire+1

• Across many markets, the days-on-market is increasing, inventory is accumulating, and buyer urgency is lower than it was in the frenzy years. For example, one report notes:

  “The typical seller now waits 62 days for an offer, compared to a national median of just 19 days.” Bankrate+1

• Experts at Bankrate advise that when showings are sparse or offers never come, it's a strong signal your price may be too high. Bankrate

Bottom line: The playing field has changed. The days of pricing high and waiting may no longer be realistic in many markets.

⚠️ Warning Signs Your Asking Price Might Be Too High

Here are the red flags to watch for:

• Very low showing volume: Few or no potential buyers are visiting your home. Bankrate notes this can mean buyers see the home as overpriced. Bankrate

• Good showings, no offers: If people are touring but nothing serious is happening, your price might be just above what buyers are willing to pay. Bankrate

• Lots of showings, but negative or lukewarm feedback: That may mean comparable homes are priced more competitively. Bankrate

• On the market for longer than the neighborhood norm: Homes listed too long tend to raise suspicion among buyers about hidden problems—or simply outdated pricing. Bankrate

🧭 What You Should Do (with your agent)

1. Review comparable-sales (comps) and market dynamics

   
   Ask your agent to update you on what similar homes in your area are selling for, how long they are sitting, any recent price reductions, etc.

2. Understand your “sell window”

   
   According to Bankrate, the first few weeks are critical.

   “You’re almost always going to get the most activity … in the first 21 days on the market.” Bankrate

   
   If you’re past that window, it doesn’t necessarily mean it’s too late, but it signals urgency.

3. Decide a firm lowest acceptable price

   
   Before you reduce the list price, know the lowest number you’re willing to accept (after costs) so you’re prepared and not reacting emotionally. Bankrate recommends this. Bankrate

4. Consider timing & magnitude of any price cut

   • Many agents believe a meaningful price reduction is better than a tiny one that doesn’t move the needle. Bankrate

   • The first price drop is often the best time to act. Waiting too long means your listing may accumulate “days on market” stigma.

5. Fix/refresh what you can

   
   Price isn’t always the only lever. Improve listing photos, staging, highlight strong features, fix obvious defects. These can help, especially if you’ll reduce price and want maximum impact.

💡 When a Price Reduction Makes Strategic Sense

Here are scenarios when reducing the asking price likely is the smart move:

• Your home is listed significantly above recent similar home sales.

• It’s been listed for a substantially longer time than homes in your area are selling in.

• Buyer traffic is weak or you’re only getting low-ball offers that show buyers perceive your price as too high.

• The broader market is softening (which current data shows), so waiting may carry more risk.

The HousingWire data helps confirm this: with ~42% of listings reducing price and the median cut at 4%, many sellers are adjusting expectations. HousingWire+1

✅ Putting It All Together – A Quick Checklist

Use this to assess your next move:

• How long has the home been listed?

• How many showings vs. offers have you received?

• How does your asking price compare to recent similar sales?

• Have you done the “refresh” (photos, staging, description)?

• Do you have a clear bottom-line price?

• Discuss with your agent whether now is the right time to reduce the price, and by how much.

🎯 Final Thoughts

If your home is sitting, the market may be telling you something—and not necessarily about the home, but about the price. Pricing it right, especially early, is often key to a successful sale. Being realistic, responsive, and strategic — in partnership with your agent — can help avoid delays, minimize costs, and get you moving into your next chapter.