House Selling - When To Reduce Property Price

[housesellingin2025]

My property has been on the market for 4 weeks, no offers and viewings are dwindling.

We're going to reduce the price as we believe our estate agent has overvalued our property. We don't want to do it while the market is dead (estate agents are saying this is because of the summer holidays).

Anyone have experience with selling at this time of year? Am I better off waiting until September when the kids have gone back to reduce my property, or shall I take the plunge now?

Thank you

Usually you would reduce the price at around week 5 with no offers.

You are right about being in the 'dead zone' for listing but as you have already listed you can't change that. The longer it sits the worse it starts too look to buyers unfortunately.

If you reduce to a lower price bracket, you may find you appeal to a new group of prospective buyers. If someone has a max budget of 300k and yours is 320k, they will have set the parameters at 300k. You’ll be in their bracket if you reduce to 300k.

We sold ours in the first week of August last year, so it is possible at this time of year- if the price is right.

Thanks, that's super useful. We're priced at offers over £300,000, but we're going to drop to £290,000 to hopefully appear to buyers under 300K.

We had this. Agent listed at £240 and we had 2 viewings in 2 weeks. We dropped the price and they came flooding in! We also made it clear to the agents that we needed to move quickly and they really did step up. It is a slow time of the year, but for the right price houses will sell. Good luck!

I believe that, Offers Over’ is meaningless unless you are in Scotland. Do you really want to put off buyers who are willing to offer just under the asking price? If not, don’t say it.

Can you take it off and relaunch first week in sept? So many families away now or with kids in tow so you might get more energy in sept which can drive demand and the price up again

Why would you encourage someone to put the price up!!! Houses are too expensive for the younger generation already! We need a period of zero or low house price growth. It’s stops people having money to go out and spend which it turn causes job losses.

lol ok calm down! I meant if you get lots of buyers on one day it can get more interest than a slow trickle.

I personally wouldn't look at houses with offers over price. Put on for asking price of £295,000 and be willing to take £290,000. More than 4 weeks with no offers, it's the price!

Any advert on RM is just an invitation to negotiate (up or down). I ignore any directions such as offers over, offers in the range, fixed price, etc. I'll offer what the home is worth to me - not what the sticker says.

However, many people do follow the sticker price instructions so I'd just market it at 290 and see what happens.

I would think you need to reduce by at least 5% to bring it to a new level of affordability to bring in viewings. That would be £285 ish. It's better to remove the offers over too. That is off putting - as it suggests to buyers you don't have the flexibility to sell at the market price and that you "need" a certain amount rather than are selling the home at its appropriate value.

For me a 3% reduction is unlikely to generate much interest, but it depends how you are priced relative to the competition. It may at least signal to the market that you are willing to discount and bring in some offers. But as a buyer if I wasn't interested at X then I would be unlikely to be interested at X-3%.

I agree with @GasPanic and @DrySherry. Such a minor reduction is unlikely to generate significant interest.
Have you researched the prices and what else is on the market in your area? What is selling or is nothing moving in general?
Depending on what is going on locally and how much you want to sell, I would reduce at least 5% to 285k or below.

I'm going to go against the tide here. 4 weeks seems very soon to be panicking and dropping the price. As you rightly say August is the deadzone for viewing properties, so it's no surprise your viewers are dwindling!
That fact that you've had enough viewers in for it to be possible to "dwindle" sounds as though your price is getting interest. Personally, I'd be trying to get as much feedback as possible from the EA about why the viewings aren't turning into offers - is there anything there you can do something about, or is there any direct feedback that the place is overpriced? If not, personally I'd wait and see what comes out of a September uptick in activity before I dropped the price.

Agree re "offers over" though. Just take that off because it's meaningless except to be offputting and confusing.

To be honest this just shows a lack of understanding of how house selling goes.

Its standard to reduce the price at 5 weeks, if you don't you'll languish and it looks really bad. Its actually common to drop before this (usually 2 week mark) if the seller is 'motivated' by not doing it you look 'unmotivated' which is a negative in itself (looks like you are testing the waters, don't actually want/need to move).

Viewer's are honestly NOT going to give helpful feedback, anything they are put off by will NOT be easily changeable (or it wouldn't put them off) and they are not required to review your house for you. Harassing them and the EA will not change anything.

Viewings with a lack of offers is proof the price isn't right. The fact it gets viewing show its not a listing issue putting people off or that the market has stagnated. Its either something major with the house or the price and even the worst house will sell at the right price so really it always comes down to price.

Yes it was a bad time of year to list but OP cannot undo that but ignoring it won't work either.

This is utter nonsense. This is just scaremongering and not worth listening to.