A price reduction in Los Angeles should be based on a lack of showing activity and specific buyer feedback, not just how many days the home has been listed. In a market where homes average 49 days on market and the median sale price is $1,130,000, if your property has been on the market for three to four weeks without a single showing, or if every showing produces the same comment that the price is out of line with perceived value, that is a clear signal it's time to consider a reduction.
The first number to look at is your showing count per week. If your Los Angeles home averages fewer than two showings per week after the initial two-week launch period, the price is likely too high for the current market. Buyer feedback is the second key indicator — if agents consistently report that the home compares unfavorably to other active listings or recent sales in your specific neighborhood, the market is telling you something. Listen to that pattern, not to one isolated comment.
Another concrete sign is when comparable homes in your area — those that sold within the past 90 days — were priced similarly but closed at or below $1,130,000 while yours has not generated any offers. The Los Angeles market's price range runs from $120,000 to $130,000,000, so your specific segment matters. Look at the closed sales in your immediate radius, not the citywide median, to see if your list price aligns with what buyers actually paid.
A price reduction should also be based on the condition and presentation of your home relative to those comparables. If your property is in average condition but priced like a turnkey home, that gap needs to close. In Los Angeles, the average days on market of 49 means many homes do sell within that window, but those that linger past 60 days typically need a price adjustment of 3% to 5% to generate new interest.
The conversation with your agent should start with these data points: showings per week, feedback themes, and the sale prices of direct comparables that closed in the last 60 days. If all three point to the same conclusion, it is time to reduce. A reduction based on emotion or arbitrary timelines rarely works — let the numbers guide the decision, and you will adjust with confidence.
Market figures based on 8950 closed MLS sales in Los Angeles, CA over the trailing 12 months.