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

If your home is on the market in Cass County and you’re not seeing any offers, it’s only natural 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 your situation?

From my experience in the Fargo and Moorhead area, a price drop can be a smart, strategic decision—but it can also be a mistake if you do it too soon or without fully understanding the market dynamics. Before you make any drastic changes, let’s take a step back, assess what’s really happening, and find the best path forward that aligns with your goals.

Let’s discuss when a price reduction is a wise choice—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 watching the market closely. If it doesn’t gain traction during this early window, that’s usually a sign that something might be off.

Sometimes the issue is indeed the pricing. However, just as often, it’s about how the home is presented or how well it’s marketed.

If the photos don’t showcase 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 address the underlying issue.

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.

Redfin reported that 24.3% of listings had at least one price drop in March 2025—a sharp increase from just a year ago. This increase reflects a more cautious buyer pool. With higher interest rates and tighter budgets, buyers are doing more comparison shopping and taking their time.

Here’s the key takeaway—homes with multiple price cuts tend to sell for less than those that are priced correctly from the start. If price reductions are made too late or too frequently, it sends a message: something’s wrong with this property.

That’s not the impression we want associated with your home. Accurately pricing your home with professional insights and guidance isn’t just a step; it’s a strategic move that can ignite interest, flood you with offers, and secure the best possible price.

When a Price Reduction Makes Sense

There are definitely times when adjusting the price is the right move. Here’s when we’d recommend it:

• You’ve had consistent showings, but no offers. This often indicates that buyers see your home as a match—but not at the current price.
• Similar homes nearby have sold—and yours hasn’t. If the comparable sales are clear, buyers are comparing, and we’re out of alignment.
• The original list price was more aspirational than strategic. This can happen, especially if you launched with hopes based on last year’s market highs.

In these situations, a well-calculated price adjustment—paired with a fresh marketing push—can help spark new 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 fix the underlying problem.

Before I recommend any adjustment, we’ll ask:

• Was your home marketed to its full potential? High-quality visuals, strong listing copy, and targeted exposure make a significant difference. If those elements were lacking, we’ll address those first.
• Were showings easy to book? If buyers couldn’t get in—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 strong offers just because they didn’t match the list price. The first offer often starts the conversation, not ends it. With the right counter and data-backed negotiation, we can still get you where you want to be.

Lowering the price hastily, without adjusting your approach, can backfire. It’s not solely the price that matters; it’s how buyers perceive the value they’re receiving.

What We Do Instead

Before making any moves, we take a moment to audit everything:

• We review the photography and staging. Are we highlighting your home’s strongest features?
• We look at buyer feedback. What’s coming up in conversations or showing reports?
• We relaunch marketing if needed. If the first round didn’t gain traction, we go again—with fresh eyes and new energy.

Sometimes just repositioning the listing—without changing the price—can make all the difference. I’ve had properties sell at full asking price after we updated the photos, reworded the description, or changed our strategy for promoting the home. It’s not always about the price; it’s about the presentation.

The Real Cost of Overcorrecting

If a price drop is done too steeply—or more than once—it can send the wrong signal.

A 2024 NAR report found that homes with multiple price reductions sold for 6.7% less on average than homes priced appropriately from day one. This means that reducing the price repeatedly can lead to a lower final sale price than simply pricing it right (and being patient) from the start.

So before we touch that list price, we’ll explore all options. Because reducing the price is usually a permanent decision.

Selling Smart in 2025

In this market, pricing is powerful—but it’s not the only tool we have. The goal isn’t just to sell; it’s to sell with confidence, clarity, and the best possible outcome for your next move.

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

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

Your home deserves a thoughtful plan—not a panic reaction.