Condo Alexandria / Will Nesbitt Realty LLC

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Fewer Sellers Are Cutting Prices

March 9, 2010 by Will Nesbitt
Filed under: Market Updates, Real Estate, Real Estate Buying Tips, Tips for Sellers 

This story from NAR supports what I’m seeing locally in Northern :

The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com.

In October and November, when the was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.

“Better is leading to less time on the , less price reduction, and in a lot of we’re starting to see bidding wars on lower end properties,” said Ken Shuman, spokesperson for Trulia.

Trulia calculates that these U.S. cities experienced the biggest decline in price reductions from Feb. 1, 2010 to March 1, 2010:

  • Charlotte, N.C.
  • Colorado Springs, Colo.
  • Houston
  • Raleigh, N.C.
  • Jacksonville, Fla.
  • Albuquerque, N.M.
  • Tucson
  • Omaha, Neb.
  • San Antonio, Texas

Source: Trulia.com (03/09/2010)

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