ZipRealty Price Reduction Index, March 2007
The ZipRealty Price Reduction Index (ZPRI) is an informal indicator of ‘for sale’ home price reduction trends in cities across the country. By looking at the number of homes with price reductions and dividing this figure by the total number of homes available for sale in a given metro, we are able to determine the percentage of homes with price reductions for that metro.
Keep in mind that this is just one indicator of many that can be used in determining the health of a local real estate market.
| ZipRealty Price Reduction Index | % Homes Reduced as of 2/1/2007 | % Homes Reduced as of 3/1/2007 | Variance |
|---|---|---|---|
| Baltimore | 35.9% | 33.3% | -7.2% |
| Boston | 42.0% | 39.5% | -6.0% |
| Chicago | 29.5% | 28.8% | -2.4% |
| Dallas | 27.1% | 26.4% | -2.6% |
| Houston | 23.0% | 29.5% | 28.4% |
| Las Vegas | 34.1% | 34.2% | 0.3% |
| Los Angeles | 33.2% | 31.9% | -3.9% |
| Miami | 35.1% | 36.5% | 4.0% |
| Minneapolis | 29.0% | 28.2% | -2.8% |
| Orange County | 35.6% | 34.9% | -2.0% |
| Orlando | 35.7% | 36.9% | 3.4% |
| Phoenix | 37.1% | 38.1% | 2.7% |
| SF Bay Area | 28.5% | 27.8% | -2.5% |
| Sacramento | 39.9% | 38.5% | -3.5% |
| Seattle | 27.5% | 27.4% | -0.4% |
| San Diego | 33.5% | 31.7% | -5.4% |
| Tampa | 34.7% | 36.1% | 4.0% |
| Washington DC | 36.3% | 33.5% | -7.7% |
This index covers 18 regional markets, served by ZipRealty. The current index was taken as of 3/2/2007.
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