Boston condos and townhomes on the market in the Boston area saw a large increase in price reductions in the past month, according to real estate website Trulia.com.
As of May 1, 31 percent of homes listed on Trulia in the Boston area had a price drop at least once. The average price reduction was 6 percent, Trulia reported.
Boston ranks ninth in the country in price reductions. Minneapolis led the way in May with 40 percent of its home listings experiencing at least one price cut.
Twenty-two percent of listings on the market nationwide as of May 1 experienced at least one price reduction. This represents a 10 percent increase from the previous month.
