A lingering listing with no takers … how long does it take until the home seller to accept that a price reduction is needed? The most common answer was three months, if there have been zero offers, according to a new survey by ShelterZoom, a blockchain-based real estate platform.
Lowering price chart. Content reflects article text to left.
Thirty-three percent of 1,000 consumers surveyed say they would opt for a price cut after three months, the most common choice. Slightly under 20% say they would wait just one month; 17% would wait five months; and 9% say they’d wait an entire year before they’d consider reducing their asking price. The remainder say they would never lower their asking price.