What a reduction tells you and what it does not
Look at three things together: how long the home has been listed, how large the cut is relative to the original ask, and what has sold nearby in the meantime. A quick, modest reduction on a home that launched high usually signals a seller correcting course and still expecting a normal sale. A larger cut after weeks on the market can mean the seller is now serious, or that showings turned up something buyers did not like; ask your agent to call the listing brokerage and find out which. Do not assume a reduced home is cheaper than an unreduced one; a property that launched at the right number and never moved may still be the better value. Treat the reduction as an invitation to look closely, then write an offer based on the comparable sales rather than the seller's history.