Biggest Discounts July Update

Let’s check in on our stats once again and find out where buyers are currently getting the biggest discounts off asking price. If you are a potential buyer, this will help you to know which neighborhoods may be softer in terms of sale price discounts off list price, and help you know where to look for potential bargains.

In the charts below, we have taken all sales data from last month in the Boston area and sorted it by zip code. We calculated the overall difference between the sale price and the list price. Note that this reflects the final list price, after all price drops in the listing. Any areas with fewer than ten sales are excluded from the top and bottom ten rankings, but interested readers may download the full data summary in Excel format (xls).

Here are the top ten areas with the largest overall discount:

boston-sale-to-list-most_2009-06

The overall discount rate for the Boston area dipped slightly from May to June, dropping to 4.4% from 4.5%. While the overall rate fell, the average discount in the top ten zip codes grew, which would seem to indicate that there is a growing disparity in the discount rate between different neighborhoods.

Here are the ten areas with the smallest discounts:

boston-sale-to-list-least_2009-06

Of the 217 areas we ranked, only 01610 (South Worcester) came in with an average sale price above the average list price.

Is the area you’re shopping not on either the top 10 or bottom 10? No problem, just download the full rankings in Excel format and hit the “FullSummary” sheet.

Of the 5,762 sales we tracked in the 1-month period, 494 homes (9%) sold for 10% or more off the asking price, while 157 homes sold for 5% or more above the asking price.