If however you are way overpriced, then price very well could be the problem and it might take even more than the $5000 to peak some interest.
Regarding $5K - I agree with Ron Thomas from CA. Everything depends on price, condition & location. Ask your agent. If you don't have one, hire an appraiser and have him/her tell you the value.
If you would like an agent, I am always willing to work with new Sellers. Give me a call & you can interview me!
If lowering the price by $5,000 leaves your house overpriced by 20%, the reduction will have no effect on the buyer you want but 'blood in the water' willl stimulate a new wave of predator buyers who will send you an offer 40% of the Zillow Zestimate....>CASH" of course.
One extracted element ($5K) is insuffucient information.
This, however, is exactly why you hired a professional to represent you, to follow their guidance and directions in getting your home sold, on time, at the right price, without all the hysteria.
There are many factors to consider as I mentioned in a previous question.
But, hey....if you don't have a professional representing you, your optons are limited. Your only option may be reduce the price untils someone bites. You simply have not provided adequate information.