Almost 30 percent of Boston-area homes listed for sale on real estate Web site Trulia.com are going for a reduced price as of 1/12/2010.
In Boston, 29 percent of for-sale homes listed on Trulia had average price reductions of 7 percent. The total amount of reductions is estimated at $25.15 million, according to Trulia.
Nationwide, 21 percent of homes listed on Trulia as of Janauary 1, 2010 have experienced at least one price cut. This represents the second straight month price reduction levels have decreased and the lowest level since Trulia started tracking price reductions in April 2009.
The South has the lowest overall level of price reductions, with 20 percent of current listings experiencing at least one price cut, while the Northeast saw the biggest decrease in price reductions compared to the previous month – 12 percent