Industry NewsMarkets & Economy

Fewer sellers slash asking price

ZipRealty reports price cuts on nearly half of listings
Published on Oct 13, 2009

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by CareyBot

Fewer sellers were willing to reduce their home's asking price in September than they were a year ago, but 44 percent of listings in 28 markets tracked by ZipRealty had seen at least one price reduction, the company said in releasing the results of a monthly survey on price reductions.

The percentage of homes with price reductions was down 2.8 percent from a year ago. But among nearly half of the homes with reduced asking prices, sellers had come down by an average of 9.6 percent, or $25,362, ZipRealty said.

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