The amount of a price reduction depends on various factors, including your initial listing price, current market conditions, and how long your home has been on the market. Generally, a price reduction of 1% to 3% of the listing price can be effective in attracting new interest. However, in some cases, a more significant reduction might be necessary. It's best to consult with an experienced real estate agent like Chris Schmidt, who can analyze your specific situation and provide a tailored recommendation for your Houston property.