The former Orlando Magic -- and current Houston Rockets -- player initially listed the house for about $4.9 million.
"The problem was that when people were looking at comparable sales, there had been few, if any, sales of more than $3 million in Seminole County for years and years," listing agent Wayne Weger told the Orlando Sentinel.
The 11,000-square-foot house sits on three acres and includes a so-called man cave with a bar, pool table and three televisions. It also has a wine-tasting room, a pool, waterfall and fire pit.
Howard played for the Magic from 2004-12.