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! 

[Phillip Dwyer]

How long is it taking to sell homes in that neighborhood?  Also, price may not be the only thing hurting showing traffic. How would you rate the photography, description of the property, accuracy of the information?  Are you allowing sufficient access for showings?