Prices may have declined during the past 2 months.
Interest rates have definitely jumped up recently ...
Ultra low interest rates:
Fuel the market
Improve market psychology
Discuss your options with your Realtor.
Rather than a price reduction...
You may want to consider offering BELOW MARKET interest Rates...3.5%.(Temporary Buydown)
You do Not hold the mortgage.
You pay a fee to discount the Buyer's interest rate/payment at the closing.
The cost is minimal for the Seller in comparison to the savings for the Buyer.
Buydownn Calculator: http://www.321advantage.com/sellers-calculate-your-rate
As I said open house in you case is GOOD.