When to Drop the Price

What a good question!  But the answer depends on a great many factors.  Does the seller need a quick sale?  How well was the house priced in the first place?  And perhaps most of all -- what does an experienced agent recommend?

I'd advise going by the advice of your real estate agent, if you have one.  Otherwise, I'd drop the price every few weeks till I hit a level that attracts buyers.  We're in the top selling season right now, with people who want to move with the school year out there looking.  Don't waste that.