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We’re still seeing a good number of price reductions. In the last 5 days, there were 81 which is far less than what we’ve seen over 5 days periods the past few months. Most price reductions are around 2-5%. Some $million+ homes had a bigger drop. A Pismo home dropped from $2.295M to $1.999M (over 10% drop), a home in Templeton dropped from $1.69M to $1.5M (similar 10% drop), and a Los Osos propery dropped from $1.45M to $1.275 (almost 10%). This isn’t too surprising as it’s hard to price these type of homes because there usually aren’t many (if any) comparable Solds. The value is truely what the Buyer will pay and it looks like some of these may be priced too high for the Buyers that are out there looking.

Written by Keith Byrd - Go to Keith's Website/Profile