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10 Cities Where Home Sellers Are Slashing Prices

Aug 21, 2021 by Marc Rapport

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Rank City % of listings w/price cuts Median July list price
1. Des Moines, Iowa 32% $193,050
2. Midland, Texas 28% $330,050
3. Toledo, Ohio 26% $117,050
4. Metairie, Louisiana 24% $359,050
5. Philadelphia 22% $289,050
6. Portland, Oregon 20% $550,050
7. (tie) Anchorage, Alaska 19% $315,050
7. (tie) Winter Park, Florida 19% $569,050
7. (tie) Oklahoma City 19% $250,050
10. Peoria, Illinois 18% $89,550

Source: data.

Price cuts are typical even in the healthiest housing markets, and usually a sign sellers missed the mark. While it varies by place and season, the share of listings with price cuts typically ranges from about 10% to 20%. They are most likely to happen from midsummer to midfall as sellers who haven't found a buyer get more aggressive with pricing.

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