Which Neighborhoods Have the Fastest Price Reductions?

Here’s a fun set of data. Redfin data engineers have dug deep into our market databases to find out which neighborhoods have the fastest price reductions.

For listings with more than one price drop, we calculated the time between each price drop. Then, for each neighborhood, we calculated the median average number of days between successive price drops for listings. Neighborhoods with fewer than 20 reduced-price listings were excluded from the calculation.

Here’s a chart of the top ten neighborhoods with the fastest price reductions:

For those readers that are interested to know which neighborhoods had the slowest price drops, feel free to download the full data set in Excel 2007 format.

Ocean Beach, Grantville, Logan Heights, and Torrey Highlands all made this month’s top ten neighborhoods with the most price-reduced listings and the fastest price reductions.

While there seems to be a clear correlation between the quantity and speed of price reductions in and around San Diego, price-wise, there appeared to be no particular patterns common to neighborhoods with faster or slower price reductions. Neighborhoods with relatively high prices for the region were equally likely as those with low prices to experience fast price reductions.