Top Stories
Top Stories
Slideshows

Cities With the Most Home Price Reductions

The Most Home Price Reductions

For the nation's real estate market, home valuations have dropped off dramatically. However, the actual listing prices have not fallen as much, with realtors and sellers clinging onto original valuations, trying to minimize losses on their investments.But reduced prices could significantly increase the chances of a final sale, with homeowners finally choosing to cut their losses and accept a lower price. In a recent report by , the real estate website found that 25.6% of US listings have seen at
Source: Trulia.com

For the nation's real estate market, home valuations have dropped off dramatically. However, the actual listing prices have not fallen as much, with realtors and sellers clinging onto original valuations, trying to minimize losses on their investments.

But reduced prices could significantly increase the chances of a final sale, with homeowners finally choosing to cut their losses and accept a lower price. In a recent report by Trulia.com, the real estate website found that 21% of US listings have seen at least one price reduction. The average discount for price-reduced homes continues to hold at 11 percent off of the original listing price. This was also the second straight month where inventory levels have dropped for single family homes and condos across the United States.

So, which US cities have seen the highest proportion of home listings getting price reductions? Click ahead to find out!

Posted 12 Jan 2010

12. Dallas. TX

5 Bedrooms6 Baths10,000 sqftSingle-Family HomePrice reduced  by $500,000Total % reduced: 8.3%
Source: Trulia.com

Percent of Listings with Price Reductions: 28%
Average reduction in Dallas: 8%

$5,495,000
5 Bedrooms
6 Baths
10,000 sqft
Single-Family Home

Price reduced by $500,000
Total % reduced: 8.3%

11. Boston, MA

7 Bedrooms1 Full 2 Partial Baths3,563 sqftSingle-Family Home Price reduced by $45,000Total % reduced: 5.7%
Source: Trulia.com

Percent of Listings with Price Reductions 29% (Tied)
Average reduction in Boston: 7%

$750,000
7 Bedrooms
1 Full 2 Partial Baths
3,563 sqft
Single-Family Home

Price reduced by $45,000
Total % reduced: 5.7%

10. Mesa, AZ

3 Bedrooms4 Baths3,508 sqft Single-Family HomePrice reduced by 100,000Total % reduced: 7.7%
Source: Trulia.com

Percent of Listings with Price Reductions 29% (Tied)
Average reduction in Mesa: 14%

$1,200,000
3 Bedrooms
4 Baths
3,508 sqft
Single-Family Home

Price reduced by $100,000
Total % reduced: 7.7%

9. Indianapolis, IN

6 Bedrooms6 Baths10,356 sqftSingle-Family HomePrice reduced  by $70,000Total % reduced: 5.7%
Source: Trulia.com

Percent of Listings with Price Reductions 29% (Tied)
Average reduction in Indianapolis: 9%

$1,150,000
6 Bedrooms
6 Baths
10,356 sqft
Single-Family Home

Price reduced by $70,000
Total % reduced: 5.7%

8. Baltimore, MD

4 Bedrooms3 ½ BathsSingle-Family HomePrice reduced  by $69,500Total % reduced: 8.7%
Source: Trulia.com

Percent of Listings with Price Reductions 29% (Tied)
Average reduction in Baltimore: 12%

$726,000
4 Bedrooms
3 ½ Baths
Single-Family Home

Price reduced by $69,500
Total % reduced: 8.7%

7. Charlotte, NC

6 Bedrooms 6 ½ BathsSingle-Family HomePrice reduced by $450,000Total % reduced: 23.1%
Source: Trulia.com

Percent of Listings with Price Reductions 30% (Tied)
Average reduction in Charlotte: 10%

$1,500,000
6 Bedrooms
6 ½ Baths
Single-Family Home

Price reduced by $450,000
Total % reduced: 23.1%

6. Tucson, AZ

5 Bedrooms6 Baths7,866 sqft Single-Family HomePrice reduced by $226,000 Total % reduced: 9.1%
Source: Trulia.com

Percent of Listings with Price Reductions 30% (Tied)
Average reduction in Tucson: 10%

$2,249,000
5 Bedrooms
6 Baths
7,866 sqft
Single-Family Home

Price reduced by $226,000
Total % reduced: 9.1%

5. Omaha, NE

3 Bedrooms2 ½ BathsSingle-Family HomePrice reduced  by $13,000Total % reduced: 1.7%
Source: Trulia.com

Percent of Listings with Price Reductions 32% (Tied)
Average reduction in Omaha: 7%

$747,000
3 Bedrooms
2 ½ Baths
3,479 sqft
Single-Family Home

Price reduced by $13,000
Total % reduced: 1.7%

4. Seattle, WA

5 Bedrooms5 Baths4,400 sqftSingle-Family HomePrice reduced  by $445,000Total % reduced: 12.9%
Source: Trulia.com

Percent of Listings with Price Reductions 32% (Tied)
Average reduction in Seattle: 10%

$2,995,000
5 Bedrooms
5 Baths
4,400 sqft
Single-Family Home

Price reduced by $445,000
Total % reduced: 12.9%

3. Portland, OR

4 Bedrooms2 Full 2 Partial Baths5,176 sqft Single-Family HomePrice reduced  by $180,000Total % reduced: 13.1%%
Source: Trulia.com

Percent of Listings with Price Reductions 33% (Tied)
Average reduction in Portland: 9%

$1,195,000
4 Bedrooms
2 Full 2 Partial Baths
5,176 sqft
Single-Family Home

Price reduced by $180,000
Total % reduced: 13.1%

2. Milwaukee, WI

5 Bedrooms3 ½ Baths6,567 sqft Single-Family HomePrice reduced by $100,000Total % reduced: 8%
Source: Trulia.com

Percent of Listings with Price Reductions 33% (Tied)
Average reduction in Milwaukee: 10%

$1,150,000
5 Bedrooms
3 ½ Baths
6,567 sqft
Single-Family Home

Price reduced by $100,000
Total % reduced: 8%

1. Jacksonville, FL

6 br5 ba 5,675 sqft Single-Family Home Price reduced  by $705,000Total % reduced: 26%
Source: Trulia.com

Percent of Listings with Price Reductions 36%
Average reduction in Jacksonville: 11%

$1,995,000
6 Bedrooms
5 Baths
5,675 sqft
Single-Family Home

Price reduced by $705,000
Total % reduced: 26%