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Top 10 Real Estate Buyers' Markets

Top 10 Real Estate Buyers' Markets - Chicago - property buyers - property market

Chicago, Milwaukee and Cleveland lead the list of Zillow's top real estate buyers' markets, with homes in those metropolitan areas taking longer to sell and buyers receiving an average discount of 5 percent off asking prices.

Along with publishing a list of the top ten buyers' markets, online real estate marketplace Zillowpublished a list of the top ten sellers' markets, with San Jose, Calif., and San Francisco topping the list.

To rank the 50 largest metropolitan areas by negotiating power for sellers and buyers, Zillow analyzed its data for sale-to-list price ratio, number of days listed on Zillow, and percent of homes on the market with a price cut.

Zillow defined a buyers' market as an area where buyers have more bargaining power, with listings lingering longer on the market and "sellers being forced to cut asking prices."

Zillow Chief Economist Stan Humphries said it was "refreshing to see some markets swinging back in favor of sellers, with asking prices being met and listings spending fewer days on market."


Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.