September City/Neighborhood Price Reductions

It’s been a while since we had a look at which cities and towns have the most price reductions.

The following charts show the percent of MLS, FSBO or REO listings that were price-reduced at some point before leaving the market (either sold or removed unsold from the market) in the past 90 days. Cities/towns or neighborhoods in which the number of homes taken off the market was too small to provide believable estimates are excluded from ranking.

For those that are interested, I have uploaded the full data set in Excel format here. The downloadable Excel file also includes charts showing the top ten cities/towns/neighborhoods with the least reduced-price listings.

First up are the top ten cities with the most price-reduced listings:

Boston-PR-Cities-Most_2009-09

Of the 101 cities/towns we ranked in the Boston area this month, 40 had price-reduced ratios of fifty percent or more. The median price-reduced ratio was 47.1%.

Getting a little more granular, let’s look at the top ten neighborhoods for price reductions:

Boston-PR-Neighborhoods-Most_2009-09

Of the 26 neighborhoods we ranked this month, 10 had a price-reduced ratio of fifty percent or more. The median price-reduced ratio was 48.6%.

Download the full spreadsheet to check where your neighborhood came in.