For the ninth month this year, buyer discounts — the price paid compared to the last listing price of homes — shrank in October to a median of 2.7 percent, according to Zillow’s Real Estate Market Reports. That’s down from 2.9 percent in September and 4.6 percent in January.
October’s discount, as reported by Zillow, amounted to a median savings of $5,741 for buyers. Nationally, the median price of a home was $190,400, down 6.9 percent year-over-year. Sellers also cut prices by a median 6.5 percent.
Buyers negotiated the biggest discounts in Florida markets, Zillow reported. The highest discount rate was in Sarasota, Fla., at 7.6 percent. Some Northeast markets, including Cape Cod, Mass.; Stamford, Conn.; and New York City were also near the top of the list.
At the other side of the country, buyers in 14 markets — most in California — paid the same or more than the listing price. Stockton, Calif., topped that list, with buyers paying 2.8 percent more.
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