As we approach the end of the year and experts talking about a recession, are we starting to see what was a very hot real estate market take a dip?

According to Realtor.com, it seems that way. Evan Wyloge with realtor.com says "We used Realtor.com listing data, which comes from multiple listing services around the country, to see where the October year-over-year portion of homes for sale with a price reduction has increased the most."

Photo by Towfiqu barbhuiya on Unsplash
Photo by Towfiqu barbhuiya on Unsplash
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So where does Idaho rank on their list of Top 10 states where home sellers are cutting prices the most?

"Seven of the top 1o states seeing the biggest increase in home price reductions are in a contiguous chunk of the western United States: Arizona, Nevada, Utah, Colorado, Idaho, Washington, and California."

Here are the Top 10 States: 

10. South Carolina 

  • Median Listing Price: $354,230
  • The portion of listings that have a price reduction: 22%
  • The difference since October 2021: +13%

9. Georgia 

  • Median Listing Price: $375,000
  • The portion of listings that have a price reduction: 22%
  • The difference since October 2021: +14%

8. Texas

  • Median Listing Price: $371,650
  • The portion of listings that have a price reduction: 25%
  • The difference since October 2021: +14%

7. California

  • Median Listing Price: $699,000
  • The portion of listings that have a price reduction: 23%
  • The difference since October 2021: +15%

6. Washington

  • Median Listing Price: $600,000
  • The portion of listings that have a price reduction: 25%
  • The difference since October 2021: +15%

5. Idaho

  • Median Listing Price: $539,000
  • The portion of listings that have a price reduction: 37%
  • The difference since October 2021: +17%

4. Colorado 

  • Median Listing Price: $585,000
  • The portion of listings that have a price reduction: 29%
  • The difference since October 2021: +18%

3. Utah

  • Median Listing Price: $560,000
  • The portion of listings that have a price reduction: 32%
  • The difference since October 2021: +22%

2. Nevada

  • Median Listing Price: $469,000
  • The portion of listings that have a price reduction: 37%
  • The difference since October 2021: +23%

1. Arizona

  • Median Listing Price: $465,000
  • The portion of listings that have a price reduction: 40%
  • The difference since October 2021: +30%

Enjoy Christmas In Color Before Its Too Late!

The interactive drive-thru light display is happening at Expo Idaho.

KEEP READING! Check out this AMAZING Christmas Village South of Boise!

Ogden's Christman Village will run through December 30th with Santa greeting Children Mon-Fri from 6 to 9 pm and Saturdays from 5 to 9 pm. The lights throughout the village come on after 5 pm.

 

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