from-the-market
Park City's Frozen Real Estate is Thawing : Luxury Real Estate Blog
During the first nine months of 2009, more than $575 million changed hands in real estate deals. That’s down 33.7 percent from the same time period in 2008, and down 50 percent from the market’s all-time high in 2007. …
Shocker: The Average Size of a Price Drop is 10.7%
Just before going home on Friday night, Redfin’s Jeff Yee just ran a query against all the active listings in our entire database, which includes listings from brokers, banks and owners selling their own home in Seattle , San Francisco , San Jose , Los Angeles , Orange County, San Diego , Chicago , Boston and Washington, D.C. areas (see links for local statistics on price reductions). What he found: 38% of currently active listings have undergone a price reduction at some point since going on the market. But it was the average magnitude of the drop from the original list price that shocked everyone here: 10.7%. The data-set hasn’t been scrubbed for outliers, and it doesn’t account for price drops where the seller pulled his listing from the market and quickly re-listed at a different price
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