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The 50 Hardest Places To Sell a Home

John Csiszar
·18 mins read

 

 

For the most part, housing has always had a reputation as a good investment, and it remains popular, with about 64% of Americans owning their own homes. But there are times when it pays to be leery about buying a home, particularly in certain areas.

Over time, housing has proven resilient, and it has typically bounced back after encountering difficulty. For example, during the most recent housing crisis, which accompanied a financial market meltdown in 2008, many investors were scared away from the housing market. Yet, according to the Federal Reserve Bank of New York, housing prices have climbed back above levels seen before the Great Recession.

However, the tide may be turning when it comes to housing prices in certain cities. According to the RE/MAX National Housing Report, through Sept. 20, 2019, there were fewer home sales in six months of 2019 than in the prior year. In November of 2019, Redfin agents reported that only 10% of homes were involved in a bidding war, compared with 39% the year prior.

To help locate housing markets that may be in distress, GOBankingRates analyzed the 500 biggest housing markets in the United States according to Zillow’s Housing Data and found the 50 hardest places to sell a home. To be considered, cities had to have median list prices lower than average home values. Cities were then ranked according to the following factors:

  • The average median list price in 2019

  • The difference in home value and median list price

  • The average total houses on the market in 2019

  • The average number of days spent on Zillow

  • The percentage of listings that took a price cut in 2019

  • The median percentage of those price cuts

One thing is clear — times are tough if you’re selling a home in Miami Beach, Florida. Homes in Miami Beach spend an average of 188 days on Zillow, by far the highest amount of any city in the study. Other Florida beach cities, including Delray Beach, Naples and Fort Myers are also a struggle for sellers.

Those cities are far from alone, however. Even wealthy cities like Santa Monica, California, aren’t immune from the current market slowdown. If you’re looking to buy in one of these communities, be aware that sellers are struggling to unload their properties, which could be signaling further declines to come. See which of the 50 housing markets in the U.S. are starting to turn ugly.

Last updated: Sept. 25, 2020

50. Kennewick, Washington

  • Average median list price in 2019: $306,776

  • Average home value in 2019: $318,689

  • Difference in home value and list price: $11,913

  • The average number of homes on the market in 2019: 308

  • Average days on Zillow: 61

  • Percentage of listings with price cut: 14.33%

  • Median percentage of price cut: 2.33%

49. Pasadena, California

  • Average median list price in 2019: $894,217

  • Average home value in 2019: $933,711

  • Difference in home value and list price: $39,494

  • The average number of homes on the market in 2019: 370

  • Average days on Zillow: 62

  • Percentage of listings with price cut: 13.84%

  • Median percentage of price cut: 3.52%

48. Orange, California

  • Average median list price in 2019: $709,411

  • Average home value in 2019: $721,156

  • Difference in home value and list price: $11,744

  • The average number of homes on the market in 2019: 303

  • Average days on Zillow: 66

  • Percentage of listings with price cut: 18.13%

  • Median percentage of price cut: 2.18%

47. Rancho Cucamonga, California

  • Average median list price in 2019: $555,022

  • Average home value in 2019: $562,233

  • Difference in home value and list price: $7,211

  • The average number of homes on the market in 2019: 516

  • Average days on Zillow: 69

  • Percentage of listings with price cut: 17.54%

  • Median percentage of price cut: 1.94%

Read: Homes Won’t Be Affordable in These Cities Within 10 Years

46. Worcester, Massachusetts

  • Average median list price in 2019: $245,156

  • Average home value in 2019: $251,611

  • Difference in home value and list price: $6,456

  • The average number of homes on the market in 2019: 250

  • Average days on Zillow: 67

  • Percentage of listings with price cut: 11.48%

  • Median percentage of price cut: 2.92%

45. San Marcos, California

  • Average median list price in 2019: $633,856

  • Average home value in 2019: $638,767

  • Difference in home value and list price: $4,911

  • The average number of homes on the market in 2019: 274

  • Average days on Zillow: 62

  • Percentage of listings with price cut: 20.56%

  • Median percentage of price cut: 1.85%

44. Silver Spring, Maryland

  • Average median list price in 2019: $415,606

  • Average home value in 2019: $442,589

  • Difference in home value and list price: $26,983

  • The average number of homes on the market in 2019: 560

  • Average days on Zillow: 73

  • Percentage of listings with price cut: 13.63%

  • Median percentage of price cut: 2.82%

43. Lowell, Massachusetts

  • Average median list price in 2019: $301,824

  • Average home value in 2019: $318,456

  • Difference in home value and list price: $16,632

  • The average number of homes on the market in 2019: 161

  • Average days on Zillow: 67

  • Percentage of listings with price cut: 13.84%

  • Median percentage of price cut: 2.84%

42. Columbia, Maryland

  • Average median list price in 2019: $352,383

  • Average home value in 2019: $378,922

  • Difference in home value and list price: $26,539

  • The average number of homes on the market in 2019: 259

  • Average days on Zillow: 73

  • Percentage of listings with price cut: 15.13%

  • Median percentage of price cut: 2.46%

41. Hialeah, Florida

  • Average median list price in 2019: $319,727

  • Average home value in 2019: $332,811

  • Difference in home value and list price: $13,084

  • The average number of homes on the market in 2019: 592

  • Average days on Zillow: 91

  • Percentage of listings with price cut: 12.17%

  • Median percentage of price cut: 2.67%

40. Orem, Utah

  • Average median list price in 2019: $323,539

  • Average home value in 2019: $339,533

  • Difference in home value and list price: $15,994

  • The average number of homes on the market in 2019: 216

  • Average days on Zillow: 54

  • Percentage of listings with price cut: 19.09%

  • Median percentage of price cut: 1.99%

39. Corona, California

  • Average median list price in 2019: $509,256

  • Average home value in 2019: $512,778

  • Difference in home value and list price: $3,521

  • The average number of homes on the market in 2019: 683

  • Average days on Zillow: 76

  • Percentage of listings with price cut: 19.41%

  • Median percentage of price cut: 1.69%

38. San Jose, California

  • Average median list price in 2019: $968,427

  • Average home value in 2019: $1,107,444

  • Difference in home value and list price: $139,017

  • The average number of homes on the market in 2019: 1,380

  • Average days on Zillow: 50

  • Percentage of listings with price cut: 16.50%

  • Median percentage of price cut: 3.34%

37. Mission Viejo, California

  • Average median list price in 2019: $706,789

  • Average home value in 2019: $761,833

  • Difference in home value and list price: $55,044

  • The average number of homes on the market in 2019: 352

  • Average days on Zillow: 74

  • Percentage of listings with price cut: 20.41%

  • Median percentage of price cut: 1.92%

36. District of Columbia

  • Average median list price in 2019: $591,064

  • Average home value in 2019: $686,056

  • Difference in home value and list price: $94,992

  • The average number of homes on the market in 2019: 1,995

  • Average days on Zillow: 64

  • Percentage of listings with price cut: 13.89%

  • Median percentage of price cut: 2.96%

35. Lynn, Massachusetts

  • Average median list price in 2019: $351,178

  • Average home value in 2019: $369,033

  • Difference in home value and list price: $17,856

  • The average number of homes on the market in 2019: 155

  • Average days on Zillow: 72

  • Percentage of listings with price cut: 13.85%

  • Median percentage of price cut: 3.06%

34. Arden-Arcade, California

  • Average median list price in 2019: $382,478

  • Average home value in 2019: $386,878

  • Difference in home value and list price: $4,400

  • The average number of homes on the market in 2019: 227

  • Average days on Zillow: 54

  • Percentage of listings with price cut: 17.62%

  • Median percentage of price cut: 2.68%

Pictured: Sacramento County, California, where Arden-Arcade is located.

33. Provo, Utah

  • Average median list price in 2019: $308,800

  • Average home value in 2019: $332,144

  • Difference in home value and list price: $23,344

  • The average number of homes on the market in 2019: 256

  • Average days on Zillow: 54

  • Percentage of listings with price cut: 18.69%

  • Median percentage of price cut: 2.23%

32. Pembroke Pines, Florida

  • Average median list price in 2019: $295,522

  • Average home value in 2019: $372,889

  • Difference in home value and list price: $77,367

  • The average number of homes on the market in 2019: 889

  • Average days on Zillow: 80

  • Percentage of listings with price cut: 14.37%

  • Median percentage of price cut: 2.37%

31. Miami Gardens, Florida

  • Average median list price in 2019: $252,757

  • Average home value in 2019: $262,244

  • Difference in home value and list price: $9,488

  • The average number of homes on the market in 2019: 320

  • Average days on Zillow: 97

  • Percentage of listings with price cut: 10.73%

  • Median percentage of price cut: 3.12%

30. Davie, Florida

  • Average median list price in 2019: $387,795

  • Average home value in 2019: $416,111

  • Difference in home value and list price: $28,317

  • The average number of homes on the market in 2019: 594

  • Average days on Zillow: 85

  • Percentage of listings with price cut: 15.72%

  • Median percentage of price cut: 2.41%

29. El Cajon, California

  • Average median list price in 2019: $537,222

  • Average home value in 2019: $559,667

  • Difference in home value and list price: $22,444

  • The average number of homes on the market in 2019: 371

  • Average days on Zillow: 65

  • Percentage of listings with price cut: 20.46%

  • Median percentage of price cut: 2.24%

Check Out: What Homes Will Be Worth in Your State by the End of 2020

28. San Diego

  • Average median list price in 2019: $699,307

  • Average home value in 2019: $716,011

  • Difference in home value and list price: $16,704

  • The average number of homes on the market in 2019: 3,573

  • Average days on Zillow: 61

  • Percentage of listings with price cut: 18.91%

  • Median percentage of price cut: 2.23%

27. Edison, New Jersey

  • Average median list price in 2019: $400,828

  • Average home value in 2019: $403,433

  • Difference in home value and list price: $2,606

  • The average number of homes on the market in 2019: 490

  • Average days on Zillow: 107

  • Percentage of listings with price cut: 13.23%

  • Median percentage of price cut: 2.90%

26. Sterling Heights, Michigan

  • Average median list price in 2019: $213,144

  • Average home value in 2019: $214,667

  • Difference in home value and list price: $1,522

  • The average number of homes on the market in 2019: 379

  • Average days on Zillow: 63

  • Percentage of listings with price cut: 18.12%

  • Median percentage of price cut: 2.43%

25. Seattle

  • Average median list price in 2019: $693,950

  • Average home value in 2019: $758,100

  • Difference in home value and list price: $64,150

  • The average number of homes on the market in 2019: 2,211

  • Average days on Zillow: 55

  • Percentage of listings with price cut: 16.59%

  • Median percentage of price cut: 3.32%

24. Sandy Springs, Georgia

  • Average median list price in 2019: $545,479

  • Average home value in 2019: $583,722

  • Difference in home value and list price: $38,243

  • The average number of homes on the market in 2019: 832

  • Average days on Zillow: 78

  • Percentage of listings with price cut: 18.47%

  • Median percentage of price cut: 2.52%

23. Springfield, Massachusetts

  • Average median list price in 2019: $162,423

  • Average home value in 2019: $164,644

  • Difference in home value and list price: $2,222

  • The average number of homes on the market in 2019: 304

  • Average days on Zillow: 73

  • Percentage of listings with price cut: 14.71%

  • Median percentage of price cut: 3.05%

22. Sunrise, Florida

  • Average median list price in 2019: $232,311

  • Average home value in 2019: $305,100

  • Difference in home value and list price: $72,789

  • The average number of homes on the market in 2019: 690

  • Average days on Zillow: 85

  • Percentage of listings with price cut: 13.75%

  • Median percentage of price cut: 2.87%

21. New Bedford, Massachusetts

  • Average median list price in 2019: $240,356

  • Average home value in 2019: $243,178

  • Difference in home value and list price: $2,822

  • The average number of homes on the market in 2019: 176

  • Average days on Zillow: 77

  • Percentage of listings with price cut: 14.47%

  • Median percentage of price cut: 3.34%

20. Anchorage, Alaska

  • Average median list price in 2019: $322,667

  • Average home value in 2019: $372,633

  • Difference in home value and list price: $49,967

  • The average number of homes on the market in 2019: 1,419

  • Average days on Zillow: 91

  • Percentage of listings with price cut: 16.89%

  • Median percentage of price cut: 2.16%

19. Coral Springs, Florida

  • Average median list price in 2019: $379,580

  • Average home value in 2019: $407,744

  • Difference in home value and list price: $28,164

  • The average number of homes on the market in 2019: 720

  • Average days on Zillow: 89

  • Percentage of listings with price cut: 18.65%

  • Median percentage of price cut: 2.15%

18. Santa Monica, California

  • Average median list price in 2019: $1,779,999

  • Average home value in 2019: $2,635,856

  • Difference in home value and list price: $855,857

  • The average number of homes on the market in 2019: 203

  • Average days on Zillow: 70

  • Percentage of listings with price cut: 14.27%

  • Median percentage of price cut: 4.07%

17. Fall River, Massachusetts

  • Average median list price in 2019: $257,567

  • Average home value in 2019: $260,478

  • Difference in home value and list price: $2,911

  • The average number of homes on the market in 2019: 149

  • Average days on Zillow: 95

  • Percentage of listings with price cut: 16.50%

  • Median percentage of price cut: 2.65%

16. Plantation, Florida

  • Average median list price in 2019: $341,978

  • Average home value in 2019: $403,589

  • Difference in home value and list price: $61,611

  • The average number of homes on the market in 2019: 583

  • Average days on Zillow: 89

  • Percentage of listings with price cut: 17.48%

  • Median percentage of price cut: 2.42%

Take a Look: 50 Cities With the Most Homes Under $100K

15. Livonia, Michigan

  • Average median list price in 2019: $211,600

  • Average home value in 2019: $212,411

  • Difference in home value and list price: $811

  • The average number of homes on the market in 2019: 272

  • Average days on Zillow: 63

  • Percentage of listings with price cut: 17.66%

  • Median percentage of price cut: 3.18%

14. Warren, Michigan

  • Average median list price in 2019: $124,430

  • Average home value in 2019: $142,856

  • Difference in home value and list price: $18,425

  • The average number of homes on the market in 2019: 491

  • Average days on Zillow: 63

  • Percentage of listings with price cut: 14.29%

  • Median percentage of price cut: 3.85%

13. Albany, New York

  • Average median list price in 2019: $175,828

  • Average home value in 2019: $182,956

  • Difference in home value and list price: $7,128

  • The average number of homes on the market in 2019: 220

  • Average days on Zillow: 100

  • Percentage of listings with price cut: 12.06%

  • Median percentage of price cut: 4.06%

12. Pompano Beach, Florida

  • Average median list price in 2019: $255,200

  • Average home value in 2019: $256,911

  • Difference in home value and list price: $1,711

  • The average number of homes on the market in 2019: 1,221

  • Average days on Zillow: 111

  • Percentage of listings with price cut: 16.06%

  • Median percentage of price cut: 3.03%

11. Bridgeport, Connecticut

  • Average median list price in 2019: $191,544

  • Average home value in 2019: $199,956

  • Difference in home value and list price: $8,411

  • The average number of homes on the market in 2019: 346

  • Average days on Zillow: 89

  • Percentage of listings with price cut: 14.32%

  • Median percentage of price cut: 4.04%

10. Honolulu

  • Average median list price in 2019: $637,937

  • Average home value in 2019: $1,036,844

  • Difference in home value and list price: $398,908

  • The average number of homes on the market in 2019: 2,700

  • Average days on Zillow: 92

  • Percentage of listings with price cut: 13.97%

  • Median percentage of price cut: 3.23%

9. Boynton Beach, Florida

  • Average median list price in 2019: $276,211

  • Average home value in 2019: $302,122

  • Difference in home value and list price: $25,911

  • The average number of homes on the market in 2019: 1,898

  • Average days on Zillow: 97

  • Percentage of listings with price cut: 18.49%

  • Median percentage of price cut: 2.76%

8. Newark, New Jersey

  • Average median list price in 2019: $252,844

  • Average home value in 2019: $266,300

  • Difference in home value and list price: $13,456

  • The average number of homes on the market in 2019: 587

  • Average days on Zillow: 152

  • Percentage of listings with price cut: 6.40%

  • Median percentage of price cut: 4.78%

7. Saginaw, Michigan

  • Average median list price in 2019: $90,778

  • Average home value in 2019: $105,478

  • Difference in home value and list price: $14,700

  • The average number of homes on the market in 2019: 417

  • Average days on Zillow: 68

  • Percentage of listings with price cut: 16.15%

  • Median percentage of price cut: 4.21%

6. Fort Myers, Florida

  • Average median list price in 2019: $252,387

  • Average home value in 2019: $254,156

  • Difference in home value and list price: $1,769

  • The average number of homes on the market in 2019: 3,588

  • Average days on Zillow: 111

  • Percentage of listings with price cut: 18.26%

  • Median percentage of price cut: 2.38%

5. Paterson, New Jersey

  • Average median list price in 2019: $259,354

  • Average home value in 2019: $265,733

  • Difference in home value and list price: $6,380

  • The average number of homes on the market in 2019: 332

  • Average days on Zillow: 146

  • Percentage of listings with price cut: 8.52%

  • Median percentage of price cut: 5.02%

4. Delray Beach, Florida

  • Average median list price in 2019: $298,150

  • Average home value in 2019: $343,189

  • Difference in home value and list price: $45,039

  • The average number of homes on the market in 2019: 2,105

  • Average days on Zillow: 106

  • Percentage of listings with price cut: 18.23%

  • Median percentage of price cut: 3.28%

3. Naples, Florida

  • Average median list price in 2019: $401,071

  • Average home value in 2019: $401,156

  • Difference in home value and list price: $84

  • The average number of homes on the market in 2019: 6,762

  • Average days on Zillow: 135

  • Percentage of listings with price cut: 15.40%

  • Median percentage of price cut: 2.82%

2. Albany, Georgia

  • Average median list price in 2019: $88,989

  • Average home value in 2019: $92,800

  • Difference in home value and list price: $3,811

  • The average number of homes on the market in 2019: 462

  • Average days on Zillow: 115

  • Percentage of listings with price cut: 13.22%

  • Median percentage of price cut: 5.07%

1. Miami Beach, Florida

  • Average median list price in 2019: $495,583

  • Average home value in 2019: $1,585,267

  • Difference in home value and list price: $1,089,683

  • The average number of homes on the market in 2019: 3,411

  • Average days on Zillow: 188

  • Percentage of listings with price cut: 13.09%

  • Median percentage of price cut: 3.80%

More From GOBankingRates

Methodology: GOBankingRates analyzed the 500 biggest housing markets in the United States according to Zillow housing data to find the 50 hardest places to sell a home. First, GOBankingRates found the 2019 average home value for each city and subtracted that from each city’s 2019 median list price, both sourced from Zillow’s 2019 housing data. Out of the 500 housing markets, GOBankingRates looked at 79 that had a home value greater than its median list price.

GOBankingRates then analyzed the 79 cities across the following factors: (1) 2019 median list price, with the lowest being the worst; (2) difference between home value and median list price, with the highest being the worst; (3) the average total houses on the market in 2019, with more being worse; (4) average number of days spent on Zillow, with the highest being the worst; (5) percentage of listings that took a price cut in 2019, with the highest being the worst; and (6) the median percentage of those price reductions, with the highest being the worst. All six factors were sourced from Zillow’s housing data. All six factors were then scored and combined to produce a final score. Factor three was weighted 0.5 times in final calculations. All data was compiled and up to date as of Nov. 5, 2019.

This article originally appeared on GOBankingRates.com: The 50 Hardest Places To Sell a Home