60 Days on Market — Should You Cut Your Price? Run These 3 Diagnostics First
Lowering price is the easiest action — and the most commonly misused. Before you click ‘Reduce Price,’ answer three questions.
My GTA home has been listed 60 days with no offers — should I drop the price?
Not necessarily. Run a 3-step diagnostic first: (1) showings-to-offer ratio — 20 showings with no offer means marketing/staging issue, 5 showings means pricing issue; (2) Compare your list price to recent solds (not active listings) for ±100 sqft in the same area; (3) Check broader GTA market temperature (May 2026 average DOM is 54 days per TRREB). A reflexive price cut signals ‘something’s wrong with this house’ and often extends time on market.
Source: TRREB Market Stats May 2026, Ontario pricing analytics
Cutting the price is the easiest move a seller can make — and the most commonly wrong one. Over the past 6 months I’ve worked with 47 stagnant listings. Clients asked to cut price on 38 of them. Only 13 actually had a pricing problem. The rest? Marketing, staging, photography, or simply the market. Here’s the framework I use before recommending a single dollar in cuts.
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Why the First 14 Days Decide Everything
TRREB May 2026 data: 60% of total showings happen in the first 7 days. If your listing doesn’t generate offers in week one, the diagnosis must happen now, not at day 60. Late corrections are ‘chasing’ the market — far less effective than getting it right at launch.
The 3-Step Diagnostic
Diagnostic 1: Showings × Conversion Rate
• <5 showings → pricing problem (buyers ruled you out on MLS comparison before requesting a tour)
• 20+ showings, zero offers → property problem (photos overpromise, staging underwhelms, or condition issue)
• 8-15 showings + lowballs → price slightly high but market exists
Diagnostic 2: Compare to Recent Solds (Not Actives)
• Your list price > sold comps by 5%+ → real pricing problem
• Your list price ≈ sold comps → pricing is fine; issue is elsewhere
• Your list price < sold comps → do not cut — the issue is marketing or condition
⚠️Common mistake: Panic-cutting after the first lowball offer. A lowball offer is a positive signal — at least someone is engaged. Counter strategically, don’t slash.
Diagnostic 3: Market Temperature
If You Must Cut — How Much?
The psychology: buyers respond to the size of the cut, not the new price.
• Cut 1-2% → no buyer response, MLS algorithm barely notices
• Cut 3-5% → triggers MLS price change alert; brings new eyeballs
• Cut 5-10% → strong ‘seller’s motivated’ signal; can attract lowball cluster
• Cut 10%+ → ‘something’s wrong’ signal; buyers cut deeper
Recommendation: one decisive cut of 5-7%. Watch the next 14 days. Beats ‘cut 2% three times’ nearly every time.
💡 A price cut isn’t punishment to buyers — it’s a fresh reason for them to take a second look. Make it decisive, single, meaningful.
ℹ️Real case (May 2026): $1.85M Markham Berczy detached, 38 days no offers. Client wanted $50K cut. Comps said same model sold $1.92M last month. Real problem was tired staging. Spent $4,200 restaging + new photos. Closed at $1.88M within 14 days.
3 Alternatives Before You Cut
New photos + restage
Boost buyer-agent commission 0.25-0.5%
Terminate & Re-list
Frequently Asked Questions
My GTA home has been listed 30 days. Should I cut price?
Run the 3 diagnostics first: showing volume, comp-to-sold pricing, market temperature. If showings are 15-25/month but no offers, the issue is property or marketing, not price. A reflexive cut signals ‘something’s wrong’ and often makes things worse.
Is a 2% cut or 5% cut better?
5% is better. A 2% cut doesn’t trigger MLS price-change alerts and buyers don’t notice. One decisive 5-7% cut combined with fresh staging/photos outperforms multiple small cuts. GTA data: single 5% cut sees 38% close-within-14-days rate vs 21% for two 2.5% cuts.
What if I cut and still don’t sell?
Short term, this signals ‘severe problem’ to buyers. Strategy: one decisive 5-7% cut, watch 14 days. If no response, consider terminate & re-list (DOM resets) rather than further cuts. Two cuts in a row is the worst pattern.
How long is too long on market?
Depends on segment. GTA average DOM May 2026 is 54 days, so 30-45 is normal. Luxury ($2M+) and condos ($700K-) typically run 1.5× average. Worry seriously beyond 60-70 days for most segments.
The Ontario Selling Blueprint →Ontario Home Buying Guide →GTA Market Data (Monthly) →
Arthur Zhao
Real Estate Broker · FRI · ABR · SRS · PSA · MCNE · E-PRO · CLHMS & GUILD Elite · REAIS
VP & Branch Manager, Bay Street Group Inc.
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