Realtor.com recently ran a great story about the cooling off of real estate markets in some parts of the country. Here are the cities they highlighted.
- Santa Clara County, home to Silicon Valley, saw a 171% INCREASE in the number of homes that received a price drop in August vs. August 2017. Further, the number of listings SURGED 77% in August from last August!
- In Seattle the number of listings with price reductions increased by a whopping 76% in August from August 2017. But, sale prices are still up 14% over the last year.
In a separate story Redfin cited these 5 cities as having >25% increases in the number of homes for sale in September vs September of last year—
- San Jose saw a whopping increase of 86.7% in the number of listings.
- Seattle saw an increase of 53.9%
- Oakland’s listings increased by 28.9%
- The number of homes for sale in Portland increased by 27.5%
- San Diego saw an increase of 26.8%