30 Percent of DC Area Listings Have Had Their Price Reduced
More good news for buyers came out today. Real estate search engine Trulia.com announced that 23.6 percent of homes on the market in the U.S. have had their price cut at least once since being listed. The survey shows that at least 30 percent of listings in the Washington area have had at least one price reduction.
The average reduction nationally is about 10 percent of the listing price, and that holds true for the DC area as well.
The Trulia survey also looked at the reduction rates in the top 50 U.S. cities. Just over 30 of those cities have seen 25 percent or more of home listings reduced in price. They include:
- Jacksonville, Florida – 36 percent
- Tucson, Arizona – 32 percent
- Boston, Massachusetts – 32 percent
- Los Angeles, California – 32 percent
- Columbus, Ohio – 31 percent
- Dallas, Texas – 31 percent
- Honolulu, Hawaii – 31 percent
- Minneapolis, Minnesota – 31 percent
- Austin, Texas – 30 percent
- Washington, DC – 30 percent
- Baltimore, Maryland – 30 percent
- Las Vegas, Nevada – 30 percent
This article originally published at http://dc.urbanturf.com/articles/blog/30_percent_of_dc_area_listings_have_had_their_price_reduced/993
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