Chances are the price reduction was in the works before the counter offer was generated in their system. As a listing agent for some REO companies, I know that the people that deal with offers are different from the ones that deal with month to month pricing and management. I would also ask what website you were referring to, as I've noticed that some of the "tracking" websites do not post accurate list prices- some seem to pull prices out of thin air.
Hope this helps!
Coldwell Banker All American
Your Kansas City Real Estate Referrals are appreicated!