EMERYVILLE, Calif. (Feb. 10, 2011) – Home sellers continue to discount their asking price in an attempt to entice buyers to move towards a purchase according to a report issued by national real estate brokerage ZipRealty (www.ziprealty.com; NASDAQ: ZIPR).

ZipRealty’s monthly Price Reduction report, which is generated from a review of MLS-listed properties in 26 markets, shows that inventory is up a modest 2.81 percent from January 2010, but the total number of homes where sellers have cut the asking price at least once was up 17.6 percent. This double-digit growth in discounted homes may be another indicator of a sluggish market.

“In more than half of the surveyed markets, sellers are averaging at least two reductions in price,” said John Oldham, Director of Marketing for ZipRealty. “Inventory has grown throughout much of the year; as sellers face the pressure of more buying options, they seem to be discounting to attract buyers resulting in list prices being cut for over 46 percent of the homes.”

From a month-to-month view, January saw fewer discounted homes for sale than December, with the number of price-reduced homes on the market dropping 4.1 percent and total inventory down 2.1 percent. Although price-reduced inventory outstripped last year’s levels, the percentage slipped from 47.2 percent to 46.2 percent, making it the second straight monthly decline.

The report also found almost no change in the median list price from last month, dropping less than $500 (.2 percent), compared to about a $9,000 decline (3.9 percent) from November to December. While there are still markets where the median list price dropped significantly, such as Orange County, Calif., which saw a $5,000 drop in list price, some markets saw prices nudging back up, such as Miami, Fla., where the list price increased from $180,000 to $185,000 in January.

Highlights of ZipRealty’s January index include:

• The number of price-reduced homes on the market is up 19.8 percent of January of 2010
• Price-reduced homes fell faster than inventory, with the number of price-reduced homes falling 4.1 percent compared to a 2.1 percent decrease in overall inventory in January as compared to December
• The median reduction amount dropped 1.7 percent to $19,088
• The median list price dropped by .2 percent from December to $225,015, and the average percentage of price reduction amount to list price fell to 7.8 percent in January
• In four major markets, more than half of homes on the market in January included at least one price reduction, down from nine markets in December. Those markets are Phoenix, Jacksonville, Orlando and Baltimore.
• Homes listed for sale in Florida continue to be discounted by the largest percentage of original list price nationwide with Orlando leading (12.5 percent), followed by Jacksonville (12.1 percent) and Miami/Ft. Lauderdale/Palm Beach (11.9 percent)
• Markets with the largest median price reduction in absolute dollars were:

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About the Report

ZipRealty compiled real estate listing and price reduction data from the MLS in 26 of the 35 major U.S. metropolitan areas where the real estate brokerage operates.  The data cited within this report was pulled on February 1, 2011.

This report is intended to convey information on the general market conditions where ZipRealty operates, not on ZipRealty’s operating results. ZipRealty’s operating results may be materially different from the general trends shown in this report.  Please do not draw any conclusions about ZipRealty's operating results based on the information contained in this report but, instead, refer to ZipRealty's earnings releases and periodic reports as they are made public. 

About ZipRealty, Inc.

ZipRealty is a leading full-service residential real estate brokerage that uses an innovative combination of a comprehensive online presence, robust proprietary technology and knowledgeable local agents to offer its clients fast, responsive and transparent service. The Company’s award-winning, user-friendly website gives its users access to comprehensive local Multiple Listing Services home listings data, as well as other relevant market and neighborhood information and tools. The Company's proprietary technology, including its agent platform and customer relationship tools, helps it to enhance customer service while increasing agent efficiency and reducing costs, allowing the Company to pass on significant savings to consumers as permitted by law. Founded in 1999, the company operates in 23 major markets in 20 states and the District of Columbia. For more information on ZipRealty, visit http://www.ziprealty.com or call 1-800-CALL-ZIP.

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EMERYVILLE, Calif. (Jan. 13, 2011) –The number of price-reduced homes on the market this December remained at high levels compared to 2009, rising 23.4 percent according to a report surveying 26 US markets issued by national real estate brokerage, ZipRealty (www.ziprealty.com; NASDAQ: ZIPR).

The report also found that in the markets surveyed, the median list price in December was down 3.9 percent at $225,434, compared to November when the median list price was over $9,000 more at $234,484.  California markets showed the largest month-to-month markdown, with the median list price in San Francisco dropping $35,195, followed by San Diego (median list price dropped $19,100) and Orange County ($17,100) as sellers slashed prices.

According to the report, both price-reduced inventory and total inventory decreased in November compared to October, but this December’s month-over-month decline was far more dramatic, with total inventory diving 5.3 percent and price-reduced inventory falling 7.7 percent. Both figures are still large increases over last year, with total inventory up 11.2 percent over December 2009 and reduced inventory up 23.4 percent.

“We continue to see high inventory levels and declining prices,” said John Oldham, Director of Marketing for ZipRealty. “Year-end inventory is declining but is still much higher than 2009 levels.”

The percentage of inventory that has experienced at least one reduction dropped for the first time in months, decreasing to 47.2 percent in December, compared to 48.4 percent in November and 48.3 percent in October of 2010.

“December is traditionally a slow month for home sales, and this could be a contributing factor to the decline over the previous two months in inventory as well as the drop in median list price,” Oldham added.

Highlights of ZipRealty’s December index include:

• The number of price-reduced homes on the market is up 23.4 percent over December of 2009
• Price-reduced homes fell faster than total inventory, with the number of price-reduced homes plunging 7.7 percent compared to a 5.2 percent decrease in overall inventory in December as compared to November
• The median list price dropped by 3.9 percent from November to $225,434, and the average percentage of price reduction amount to list price rose to 7.9 percent in December
• In 9 markets, more than half of homes for sale in December included at least one price reduction, down from 11 markets in November. Those markets are Phoenix,  Jacksonville, Minneapolis/St. Paul, Tucson, Orlando, Chicago, Seattle, Baltimore, and Orange County
• Homes listed for sale in Florida markets were discounted by the largest percentage of original list price nationwide with Orlando leading (12.4 percent), followed by Miami/Ft. Lauderdale/Palm Beach (12.2 percent) and Jacksonville (12 percent)
• Markets with the largest median price reduction in absolute dollars were:

About the Report

ZipRealty compiled real estate listing and price reduction data from the MLS in 26 of the 35 major U.S. metropolitan areas where the real estate brokerage operates.  The data cited within this report was pulled on January 1, 2011. To download the data from the report go to: http://ziprealty.typepad.com/Price%20Reduction%20December%202010.FNL.xls

This report is intended to convey information on the general market conditions where ZipRealty operates, not on ZipRealty’s operating results. ZipRealty’s operating results may be materially different from the general trends shown in this report.  Please do not draw any conclusions about ZipRealty's operating results based on the information contained in this report but, instead, refer to ZipRealty's earnings releases and periodic reports as they are made public. 

About ZipRealty, Inc.

ZipRealty is a leading full-service residential real estate brokerage that uses an innovative combination of a comprehensive online presence, robust proprietary technology and knowledgeable local agents to offer its clients fast, responsive and transparent service. The Company’s award-winning, user-friendly website gives its users access to comprehensive local Multiple Listing Services home listings data, as well as other relevant market and neighborhood information and tools. The Company's proprietary technology, including its agent platform and customer relationship tools, helps it to enhance customer service while increasing agent efficiency and reducing costs, allowing the Company to pass on significant savings to consumers as permitted by law. Founded in 1999, the company operates in 35 major markets in 22 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

For more price reduced homes see the ZipRealty Sales Rack

For more price reduced homes see the ZipRealty Sales Rack

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EMERYVILLE, Calif. (Oct. 06, 2010) – The number of price-reduced homes on the market this September increased dramatically compared to the same time last year, rising 24.2 percent according to a report issued by national real estate brokerage ZipRealty (www.ziprealty.com; NASDAQ: ZIPR).

According to the Price Reduction Index, ZipRealty’s monthly review of MLS-listed properties in 26 markets surveyed by the brokerage, list prices were cut at least once for 47.8 percent of homes on the market in September, an increase of nearly 10 percent over last year.

September also saw more discounted homes for sale than August, with the number of price-reduced homes on the market up 2.1 according to the report. The report also found that sellers had reduced their list prices an average of twice with a median reduction of $19,165.

“Sellers appear to be cutting their prices again,” said Leslie Tyler, Vice President of Marketing for ZipRealty. “Last spring the tax credit helped to bring buyers into the market, and we didn’t see sellers reducing prices by as much.   But now sellers seem to be cutting prices more aggressively going into the typically slower fall and winter seasons.”

Highlights of ZipRealty’s September index include:

• Nearly half (47.8 percent) of listed homes in September included at least one price reduction – an increase of 1.5 percent compared to August
• The number of price-reduced homes rose quicker than inventory, with the number of price-reduced homes rising 2.1 percent compared to a .6 percent increase in overall inventory in September as compared to August
• The median list price dropped by 1.75 percent from August to $245,265, and the average percentage of price reduction amount to list price rose to 7.25 percent in September
• In 10 major markets, more than half of homes on the market in September included at least one price reduction, up from seven markets in August. Those markets are Jacksonville, Phoenix, Minneapolis/St. Paul, Orlando, Chicago, Tucson, Baltimore, Austin, Orange County and Seattle
• Jacksonville, Fla., continues to have the highest percentage of price-reduced homes out of the 26 markets surveyed. More than 55 percent of Jacksonville listings in September included at least one price reduction
• Denver had the lowest percentage of price-reduced homes in September, with 34.4 percent of listings including at least one reduction
• Homes listed for sale in Miami/Ft. Lauderdale/Palm Beach were discounted by the largest percentage of original list price nationwide (23 percent), followed by Orlando  (11.7 percent) and Jacksonville (11.8 percent)
• Markets with the largest median price reduction in absolute dollars were:

About the Report

ZipRealty compiled real estate listing and price reduction data from the MLS in 26 of the 35 major U.S. metropolitan areas where the real estate brokerage operates.  The data cited within this report was pulled on October 1, 2010.

This report is intended to convey information on the general market conditions where ZipRealty operates, not on ZipRealty’s operating results. ZipRealty’s operating results may be materially different from the general trends shown in this report.  Please do not draw any conclusions about ZipRealty's operating results based on the information contained in this report but, instead, refer to ZipRealty's earnings releases and periodic reports as they are made public.  

About ZipRealty, Inc.

ZipRealty is a leading full-service residential real estate brokerage that uses an innovative combination of a comprehensive online presence, robust proprietary technology and knowledgeable local agents to offer its clients fast, responsive and transparent service. The Company’s award-winning, user-friendly website gives its users access to comprehensive local Multiple Listing Services home listings data, as well as other relevant market and neighborhood information and tools. The Company's proprietary technology, including its agent platform and customer relationship tools, helps it to enhance customer service while increasing agent efficiency and reducing costs, allowing the Company to pass on significant savings to consumers as permitted by law. Founded in 1999, the company operates in 35 major markets in 22 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

Dawn Wotapka of DOW JONES NEWSWIRE

NEW YORK (Dow Jones)--Housing inventory, which typically dips as the summer ends, rose for the ninth straight month in September, indicating that sales remain weak as the downturn drags on.

Listings for single-family homes, condos, townhomes and other residences in 26 major metro markets spiked 13.5% from a year earlier, reports ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. When compared with a month earlier, September's inventory rose 0.6%, according to data pulled from local multiple-listing services on Friday.

In addition to sluggish sales, the increase comes from lenders dumping foreclosed homes on the market, short sale offers and sellers who can no longer wait, says Leslie Tyler, ZipRealty's vice president of marketing. To continue reading please visit the Wall Street Journal