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Taking Advantage of Negotiation – U.S. Homebuyers Paid $7,039 Less Than Listing Price in July

Amid continued falling home prices, U.S. homebuyers are negotiating even more discounts at the bargaining table, according to July’s Zillow Real Estate Market Reports.

Buyers paid 3.3%, or a nearly $7,039, less than the last listing price on homes for sale during the month of July 2009. That is down slightly from 3.5%, or $7,630, in June, and substantially down from 4.6% ($10,260) in January.

Meanwhile, 22.8% of all homes listed for sale had at least one listing price reduction as of Sept. 1, 2009. The median U.S. price reduction was 6.5% off the original listing price. Homes listed for sale during August were listed for a median 96 days, up from 91 in July.

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