The Top 5 Cities Where Prices Are Being Slashed

 

The top 5 cities where prices are being slashed

A large percentage of houses in these towns are offered at deep discounts. For the lucky few who are buying homes, this may be good news: The latest data show that people selling homes are increasingly abandoning their original asking price and offering their listings for a discount.

 The housing recovery has stalled and sellers are slashing asking prices. In some cities, half the listings on a block have been reduced, according to Trulia.com. See which metros--and which neighborhoods or suburbs--have the highest proportions of discounted homes.

Metro: Minneapolis

Percentage of for-sale homes marked down: 43%
High concentrations of discounted homes: Lynnhurst, Ericsson, Audubon Park
Low concentrations of discounted homes: Downtown East, Near North, North Loop
Example: 4528 Fremont Ave. S
Price: $1.3 million
Markdown: $500,000

Metro: Milwaukee

Percentage of for-sale homes marked down: 40%
High concentrations of discounted homes: West Allis, Wauwatosa, Donner Woods
Low concentrations of discounted homes: Kilbourn Town, Historic Mitchell Street
Example: 3220 North Lake Drive
Price: $1.4 million
Markdown: $100,000

Metro: Phoenix

Percentage of for-sale homes marked down: 39%
High concentrations of discounted homes: North Mountain, Camelback East
Low concentrations of discounted homes: Central City, North Gateway, Desert View
Example: 4908 East Calle Del Medio
Price: $2.5 million
Markdown: $450,000

Metro: Mesa, Ariz.

Percentage of for-sale homes marked down: 37%
High concentrations of discounted homes: Liesure World, Dobson Ranch
Low concentrations of discounted homes: Las Palmas Grand
Example: 3615 East Quenton Dr.
Price: $2.3 million
Markdown: $456,000

Metro: Albuquerque

Percentage of for-sale homes marked down: 35%
High concentrations of discounted homes: Wildflower Area, Uptown, Tanoan East
Low concentrations of discounted homes: Los Poblanos, University Heights
Example: 11505 Sky Valley Way NE
Price: $550,000
Markdown: $29,000

Metro: Memphis

Percentage of for-sale homes marked down: 35%
High concentrations of discounted homes: Midtown, Jackson-University Area
Low concentrations of discounted homes: South Memphis
Example: 460 Woodmere Lane
Price: $729,000
Markdown: $63,000

Metro: Boston

Percentage of for-sale homes marked down: 35%
High concentrations of discounted homes: Roslindale, West Roxbury, Dorchester
Low concentrations of discounted homes: Beacon Hill, South End, Back Bay
Example: 128 Commonwealth Ave.
Price: $9.5 million
Markdown: $1 million

Metro: Tucson

Percentage of for-sale homes marked down: 34%
High concentrations of discounted homes: Prince Tucson, Rosemont West, Glenn Heights,
Low concentrations of discounted homes: Los Ranchitos, Santa Cruz Southwest
Example: 2900 North Spirit Dancer Trail
Price: $
Markdown: $

Metro: Baltimore

Percentage of for-sale homes marked down: 34%
High concentrations of discounted homes: Loch Raven, Cedmont, Guildford
Low concentrations of discounted homes: Downtown, Orangeville, Union Square
Example: 4313 Saint Paul St.
Price: $995,000
Markdown: $100,000

Metro: Dallas

Percentage of for-sale homes marked down: 34%
High concentrations of discounted homes: Lakewood, Highland Park, Preston Hollow
Low concentrations of discounted homes: Oak Lawn, Cedar Crest, South Dallas
Example: 4300 Saint Johns Dr.
Price: $5.5 million
Markdown: $760,000