When is a good time to lower price? Las Vegas Market

[Joe Dijamco]

Hello, Real Estate Pros: 

I am a new member of BP and Las Vegas resident. After 12 days on the market without an offer and no showings, I think the problem is the price—too high for the neighborhood. With our Realtor's guidance and expertise, she said that based on recent sold (only 2 homes in the past 2 months, similar year built, square footage) our property is priced right and it support the sales of other homes in the area. And if we don't see any activity after 2 weeks, we could lower the price below the suggested comps.

When is a good time to lower the price, waiting 2 weeks without any activity is the best practice? 

I just don't like the idea of waiting to make a move because in my opinion the longer our home sits on the market, the lower the final selling price relative to the list price. Am I too impatient and just need to give it sometime for the marketing strategy to work?

I'd appreciate any suggestions and thank you in advance!