While sellers in Boston and Cambridge are still stingy, a few neighborhoods are seeing a rise in homes and condos with price cuts, signaling a more buyer-friendly fall real estate market.
East Boston, Roslindale, Hyde Park and the Fenway are leading the price-cut parade, with double-digit jumps in number of listings that have a reduced price, according to the latest Zillow numbers.
Even so, the number of discounted homes in Boston and Cambridge remains well under 40 percent. That’s compared to 42 percent for Greater Boston as a whole, once the suburbs are taken into account.
A look at the numbers by neighborhood:
• East Boston
is hot of late, with a 15 percent jump in price-reduced homes, bringing the total to 32 percent
• Hyde Park
shows 38 percent of homes for-sale reduced in price during the third quarter, an increase of 21 percent over the same period last year
• Roslindale
has nearly 40 percent of its listings showing price cuts after a recent 14 percent jump
• Fenway
is seeing just over 27 percent of its condos and homes on the market with price cuts
The South End and West Roxbury get honorable mentions, with reduced homes jumping 7.9 and 5.6 percent respectively. More than 26 percent in the South End and 37 percent in West Roxbury saw price cuts through the end of September.
Sellers in West Cambridge have been particularly busy, cutting prices on 36 percent of homes in the neighborhood, a 20 percent jump over last year. Thirty-two percent of homes in North Cambridge came down in price, an increase of over 26 percent from last year.
Where are the stingiest neighborhoods, the ones where sellers won’t budge?
Just 4.8 percent of all homes in Allston were reduced, the lowest of any Boston or Cambridge neighborhood. No. 2 was Cambridgeport, weighing in at a parsimonious 6.2 percent.
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