Move My Realty - Real Estate News

Buyers Remain Largely in the Driver's Seat

September 11th, 2009 10:53 AM by Ron Mastrodonato

Buyers Remain Largely in the Driver's Seat
Homebuyers continue to drive hard bargains, holding down prices while allowing properties to sit on the market for an increasing length of time, according to Zillow.com’s market report.

Nationwide, buyers paid 3.3 percent, or nearly $7,039, less than the last listing price on homes for sale during the month of July. That is a slight improvement over June, when the discount was 3.5 percent and significantly less than the 4.6 percent discount in January.

Meanwhile, 22.8 percent of all homes listed for sale on Zillow had at least one listing price reduction as of Sept. 1. The median U.S. price reduction was 6.5 percent off the original listing price. Homes listed for sale on Zillow during August were listed for a median 96 days, up from 91 in July.

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Posted in:General
Posted by Ron Mastrodonato on September 11th, 2009 10:53 AM

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