Sellers of owner occupied dwellings can decrease the expected time-till- sale of their dwelling by lowering the advertised listprice of the dwelling.This article investigates the e ect of listprice reductions on the transition rates of dwellings from the market through i) a sale, or ii) a withdrawal from the market. We use a timing-of-events model with competing risks (a sale or a withdrawal of the dwelling from the market). Our data con- sists of all dwellings put on the market between the start of 2005 and the end of 2007, o ered through brokers which are a member of the NVM (Dutch Real Estate Brokers Association). Our data covers approximately 75% of all owner occupied dwellings o ered for sale in the Netherlands during this period. We nd that a listprice reduction raises the transi- tion rate from market to sale by more than 260%, a listprice reduction raises the transition rate from market to withdrawal by more than 40%.