Should we lower our asking price?

[Milanda Kornacki]

My husband and I put our primary home on the market with the intent of cashing out, and buying a couple of investment properties.  We are in a hot market.  We got an offer $25,000 over asking within a few days. It was a contingent offer based on the buyer selling their property.  We waited over a month, and they were unable to sell, so we pulled out of the contract.  We had a another full price offer, briefly, but again they had trouble with the financing. Under the first offer the house appraisal was done and came back at offer (not surprising, I know). Since the second failed contract we have had about 8 showings but ZERO offers. Listing agent thinks we should lower the price because of the rising interest rates, but says for the area we are still priced right! The feedback is generally very positive "beautiful home" "on my clients' short list" "offer may be coming" etc., with NO follow up.  We've had a couple of agents say it is overpriced, but most have said it is priced right.  We just don't know what to do. Would you suggest a price reduction, since it's likely still the highest we will be able to get out of it over the next few years? Thanks! 

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