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.
Sellers in Las Vegas made the biggest price reductions — 20 percent, on average — compared with a low of 4.6 percent in Raleigh-Durham, N.C.
About half of all homes on the market saw price reductions in Orlando (50.4 percent), Jacksonville (50.2 percent), and Chicago (49.7 percent), while prices were slashed on only about one in three properties in Denver (30.3 percent), Los Angeles (34.7 percent), San Francisco (37.1 percent) and Sacramento (37.2 percent).
The survey is based on real estate listing and price reduction data from the multiple listing services in 28 of the 36 major markets where ZipRealty operates.
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