#price-reductions

#price-reductions

HW Data for the week of Oct. 3 shows California's median list price at $775,000 with inventory of 57,048 homes and a market action index of 37.3. Florida's median list price is $484,000 with inventory of 97,525 homes and a market action index of 30.3. Price reductions reached 36 percent of active listings in California and 44 percent in Florida.

Unit 65 at 53 West 53rd Street, asking just under $47 million, was the priciest Manhattan home to land a signed contract last week, according to Olshan Realty's weekly report. The full-floor apartment was one of 29 properties to find buyers between Sept. 29 and Oct. 5, up from 23 in the previous period. The building's developers a group including Hines and Singapore's Pontiac Land Group initially sought $51 million for the 6,400-square-foot pad in 2015, when they began marketing units off of floor plans.

First up, after selling for $12.5 million in 2022, the Brooklyn Heights dwelling perhaps best known as the "Moonstruck" house is back on the market. This former House of the Day is still available for $12.75 million, a price cut of $1.25 million. In the Cobble Hill Historic District, a row house is set up with a duplex and two rental units. This former Open House Pick is still available for $4.275 million, a price cut of $675,000.

San Antonio is steadily catching buyers' eyes, with a housing market that's somewhat competitive. In July 2025, the median sale price reached $275,500, up 2.9% from last year. Homes take about 58 days to sell and usually draw around 2 offers each. Roughly 15% of homes close above list price, while nearly 38% see price drops, reflecting a market with opportunities for both buyers and sellers. With most buyers choosing to stay local, San Antonio continues to offer steady appeal for those looking to make a move.

San Jose blends suburban calm with Silicon Valley energy, and its housing market reflects that balance. The market is only somewhat competitive, with homes receiving about 4 offers on average and selling in around 20 days. The median sale price in July 2025 was $1,498,500, showing the high cost of living in the Bay Area. Still, with 51.6% of homes selling above list price and a 101.9% sale-to-list ratio, sellers are in a strong position.

34% of UK homes are seeing a reduction in price, the highest for this period since 2012, indicating a two-speed property market.

The spring homebuying season has gotten off to a slow start as persistent elevated interest rates, policy uncertainty, and building material cost factors hurt builder sentiment in May.