There have been 69 price adjustments in the last 7 days.
That’s 48% more than the same week last year,
and 41% more than the same week just a month ago.
The above chart highlights some interesting trends in price drops across different price ranges, with higher adjustments in the $1M–$1.5M range. Most price ranges are seeing around an overall 5% price drop, which may reflect multiple adjustments over time.
While it’s normal to see more inventory at the start of the year, we’re seeing higherlevelsthan usual right now.
This makes it more important than ever to price your home right if you’re thinking of selling.
If you’re looking to buy, this means more options and more negotiating power than you had even a year ago.