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Homes selling for closer to list price

Zillow: Buyers paid 3.3% below list price in July

U.S. homebuyers paid 3.3 percent less than listing price, on average, during July -- a smaller discount than the 3.5 percent average in June and 4.6 percent in January, listing and valuation site Zillow.com said.At the market level, Zillow's July Real Estate Market Reports shows buyers paid the asking price or more in some California markets where sales are heating up.In the El Centro metropolitan statistical area (MSA), one of 161 tracked by Zillow's report, buyers paid 1.8 percent more than listing price. In seven California markets -- Sacramento, Merced, Modesto, Riverside, Stockton, Yuba City and Fresno -- the asking price and sale price were the same, on average.Zillow attributed declining discounts from listing price to increased sales and a high proportion of foreclosures resales, which are already priced relatively low. Homebuyers in Florida had the most negotiating power in July, Zillow said. Buyers in the Vero Beach metro area paid 10.2 percent less than the last listing pric...

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