Baltimore real estate asking-price reductions
Real estate search engine Trulia, which tracks how many homes listed for sale have had at least one price reduction, said this morning that Baltimore continues to have a high share. Higher, in fact, than all but four other big cities.
Thirty-one percent of listings in Baltimore are on the market for less than their original asking price.
Average price reduction: 12 percent. On a $300,000 house, that's a $36,000 cut.
A separate site, HousingTracker.net, has shown a fairly steady drop in typical asking prices in the Baltimore metro area. It's just below $240,000 this month, compared with $265,000 a year earlier. (That's an almost 10 percent decline, in case you haven't already reached your stat limit this morning.)
Does "reduced!" on a for-sale sign in a yard catch your interest? Or do you assume that the home is "reduced!" because it was priced too high to begin with and probably still is?
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