Should You Lower the Price of Your Home in a Down Market?

It’s a question that keeps many homeowners up at night: Should you lower the price of your home when the market is down, even though you know it’s worth more? If you’re wrestling with this dilemma, you’re not alone. Let’s break it down together.

What is Your Home Really Worth?

We all have a number in mind—maybe it’s what you paid, what your neighbor’s house sold for last year, or the value of every upgrade you’ve lovingly added. But in real estate, the true value of your home is what a buyer is willing to pay right now. In a sluggish market, that number can dip, even for beautiful, well-maintained homes.

When Does Lowering the Price Make Sense?

• Your home has been listed for a while and you’re not getting much interest or offers are coming in below your asking price. That’s a sign the market may not support your current price.
• Competition is stiff—more homes are for sale than there are buyers, so standing out with a compelling price can make all the difference.
• You want to sell sooner rather than later. Pricing competitively can attract more buyers and even generate multiple offers, sometimes pushing the final sale price up.

What Happens If You Wait?

There’s always the hope the market will bounce back, but waiting can be risky. The longer your home sits, the more buyers may wonder if something’s wrong with it. And if you’re carrying two mortgages or need to relocate, delays can be costly.

How to Find the Right Price

• Check recent sales of similar homes nearby—what are buyers actually paying?
• Think about your timeline. If a quick sale is important, a price adjustment could be the best move.
• Lean on a local real estate expert who understands your neighborhood and can help you set a price that balances your needs with market realities.

The Takeaway

No one wants to leave money on the table, but sometimes a thoughtful price reduction is the smartest path forward in a down market. The sooner your home sells, the sooner you can start your next chapter—stress-free.

Curious about how to price your home or make it shine for today’s buyers? Reach out and let’s chat about your options!