dropping our house price

Ouch.

Housing sales in April dropped 18-percent compared to the same month last year.

Couple that with the fact the Yellow House has been on the market for what feels like ages -- Dad2Amara and I agreed to drop our house price $10,000.

Dad2Amara fought me on it. He wanted to wait to drop the price. He also only wanted to drop the price $5,000.

But I disagreed.

There were many things I considered before reducing our original listing price.

1. Where we listed too high? There's no doubt it's a buyer's market right now. So what's the competition look like? When I looked at the active history of other listings in my neighborhood, I did the math. And I saw that the Yellow House had the highest per-square-foot price. Not good.
2. How long have we been on the market? For us, it's been 50 days with only three showings. It was time to make a move.
3. What price would make a buyer love our house? The Yellow House is located in a neighborhood that's just right for the first time home buyer. So was our original listing price too high for our target buyer?

With so many houses up for sale near us, I didn't want to chance yet one more house selling and it not being ours.

At the right price, every house can sell. I'm just hoping we won't have to drop much lower to get to that point.