How long should I list before adjusting price?
Sell faster or lose money? How long should you wait before dropping the price on your home?
Timing & Market Strategy
If you want a crisp, objective answer: list for 7–21 days and watch the metrics. The exact window shifts by market. In hot markets you’ll know in 3–7 days. In balanced markets watch 10–14 days. In slow markets extend to 21 days but don’t wait months.
Why this matters: days on market and initial buyer interest set the tone. The first two weeks capture most active buyers and the MLS algorithm momentum. A home that draws consistent showings but no offers signals a positioning issue. A home with no showings signals a price or marketing problem.
Data-driven timeline
- Day 0–7: Launch hard. Track showings, online views, and feedback. Expect 60–80% of initial buyer interest in the first week in active markets.
- Day 7–14: If showings are low (fewer than 2–3 quality showings per week for a typical listing), act. If showings are high but no offers, adjust price or terms within this window.
- Day 14–21+: If the property still has no offers and feedback points to price, reduce price or change strategy. After 21 days, the property starts to lose “fresh listing” status and buyer urgency drops.
Use objective metrics: average showings/week, click-through rate on listing photos, and days-on-market versus neighborhood average. If your listing’s metrics fall 20% below market averages within 10–14 days, move to adjust price or reposition.
Actions to take before cutting price
- Improve listing photos and description. Better visuals can change buyer perception immediately.
- Offer incentives: closing credit, flexible possession, or paying condo fees for a short period.
- Re-run online ads, highlight unique features, and update the MLS remarks.
- Host a targeted broker open and collect feedback.
If these steps don’t move offers, adjust price.
How much to adjust and when
- Small tweak (1–3%): when you have showings but no offers. Keeps momentum and invites fresh interest.
- Medium cut (3–6%): if showings are low and feedback mentions price specifically.
- Larger adjustment (6%+): after 21–30 days with consistent negative feedback or zero activity.
Avoid serial small cuts (price chopping). Larger, well-timed adjustments can reset your position and trigger new search filters and buyer interest.
Final checklist: a simple decision rule
- Monitor first 7–14 days closely. 2. If showings < market median or feedback is price-related, prepare a 3–5% adjustment. 3. Combine price action with marketing updates. 4. After 21 days, make a decisive change — price, staging, or terms.
When you need a market expert to execute fast, call Tony Sousa. He will analyze local absorption rates, craft the right price change, and get your property back to market momentum.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
