Why Price Reductions?

Of the 719 Active, for sale condos, townhomes and single-family homes, 257 have had a list price reduction in San Mateo County. In Santa Clara County, of the 1,170 for sale condos, townhouses and single-family homes, 289 have had a reduction. This could mean the list or asking price is coming down due a more “re-alignment” of what the real estate market shows the homes should be listed for, or due to high interest rates it is becoming difficult to sell the house. This reduction most likely happens after many days on the market, for example in the San Mateo County properties, the days on the market or DOM average is 74 days (the reduction could have been done prior to the current DOM). Ask me for a list of these properties, in either County, or ANY counties in California and I will send you an interactive email. There could be possible negotiation for lowering the actual Contract Price even lower in some or many instances.