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

If your home is on the market in Langley and you’re not receiving any offers, it’s only natural to start considering a price reduction. This is often the first piece of advice sellers hear. But is it the right move for you?

From my experience, dropping the price can be a smart, strategic decision—but it can also backfire if done too soon or without a full understanding of the situation. Before making any cuts, let’s take a step back, assess what’s really happening in the market, and determine the best course of action for your goals.

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

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 waiting for the right opportunity. If your listing doesn’t gain traction during this crucial window, it’s usually a sign that something isn’t quite right.

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

If the photos don’t highlight your home’s best features, if staging wasn’t on point, 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 critical days.

What the Data Is Telling Us

It’s not just me noticing an uptick in price reductions lately.

In Canada, CREA data indicates that about 30% of listings in early 2025 were reduced before selling, particularly in higher-priced urban markets where buyers have more choices.

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 send a message that something is off with the property.

That’s not the impression we want associated with your home. Setting the right price from the beginning, with the help of your real estate agent’s insights, is crucial for a successful launch that attracts interest and secures the best 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 potential in the home but not at the current price.
• Similar homes nearby have sold—and yours hasn’t. If the comparable sales are clear, buyers are likely making comparisons, and we may need to adjust.
• The original list price was more hopeful than realistic. This can happen, especially if you launched with expectations based on last year’s market highs.

In these situations, a well-calculated price adjustment—paired 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 at all. Lowering it won’t necessarily fix the problem.

Before we recommend any adjustment, we’ll ask:

• Was your home marketed to its full potential? High-quality visuals, compelling listing copy, and targeted exposure can make a significant difference. If those elements were lacking, we’ll address them first.
• Were showings easy to book? If buyers had trouble getting 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 simply 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 reach your desired outcome.

Dropping the price too quickly, without adjusting your approach, can backfire. It’s not just about the price; it’s about how buyers perceive the value they’re getting.

What We Do Instead

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

• We review the photography and staging. Are we showcasing your home’s strongest features?
• We analyze buyer feedback. What insights are coming up in conversations or showing reports?
• We relaunch marketing if necessary. If the first round didn’t gain traction, we’ll take another shot—with fresh eyes and renewed energy.

Sometimes just repositioning the listing—without changing the price—can make a world of difference. I’ve seen properties sell at full asking price after we updated the photos, reworded the description, or altered 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 too steep—or happens more than once—it can send the wrong signal.

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

Selling Smart in 2025

In this market, pricing is crucial—but it’s not the only tool at our disposal. 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 work through it.

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

Your home deserves a well-thought-out plan—not a reaction driven by panic.