Most segments of the local housing market are moving very quickly these days.  Many homes are going under contract in a matter of days and not weeks.

As such, the market is essentially giving feedback to home sellers very quickly as well.

If your home goes under contract in the first week -- success -- you likely prepared it well, priced it appropriately, marketed it thoroughly and likely negotiated a favorable contract.

If your home is not under contract after two or three weeks, any number of things could be going on...

1.  You might not have prepared the property well enough.

2.  You might not have priced the property appropriately.

3.  You might not have marked the property thoroughly.

4.  You might be selling a property for which there is a very small pool of likely buyers.

Because the market is giving feedback to sellers so quickly (Did your house go under contract? Or not?) many home sellers are thus making adjustments very quickly as well - and if the home preparation is solid and if the marketing is thorough, then many home sellers find themselves considering a price adjustment.

These days, it is best to price your home perfectly from the beginning (if that is even possible) but if it is not under contract within a few weeks it is better to go ahead and make a price adjustment now rather than waiting a few months.