A price cut is the clearest signal a seller can send. It says the first asking price met no buyer, and it happens before the lower price shows up in any sale figure. This page lists the ten metros where the largest share of active listings has taken at least one price cut, from the Zillow Research files with data through August 2026, and reads that share against the other numbers on each metro page.
Across the 195 metros tracked here, the share of listings with a cut runs from 12.5% to 37.9%, with a median of 26.9%. The ten below all sit well above that median.
The ten metros, August 2026
| # | Metro | Listings with a price cut | Typical home value (ZHVI) | Value, year over year | Days to pending | Sale-to-list |
|---|---|---|---|---|---|---|
| 1 | Colorado Springs, CO | 37.9% | $448,492 | -1.4% | 29 | 0.991 |
| 2 | Raleigh, NC | 36.3% | $431,269 | -1.8% | 28 | 0.987 |
| 3 | Salt Lake City, UT | 36.3% | $560,068 | +1.3% | 25 | 0.991 |
| 4 | Ogden, UT | 36.2% | $511,736 | +2.1% | 27 | 0.991 |
| 5 | Provo, UT | 36.1% | $539,276 | +1.8% | 34 | 0.992 |
| 6 | Denver, CO | 36.0% | $559,705 | -1.9% | 26 | 0.992 |
| 7 | Greeley, CO | 35.4% | $490,746 | -2.1% | 26 | 0.993 |
| 8 | Indianapolis, IN | 34.5% | $293,506 | +1.1% | 17 | 0.986 |
| 9 | Dallas, TX | 34.3% | $360,437 | -2.3% | 34 | 0.981 |
| 10 | Columbus, OH | 33.9% | $330,327 | +1.4% | 11 | 0.998 |
Every row links to the metro page, which carries 24 months of history for each series. The full ranking, past the top ten, is on the most price cuts ranking.
Cutting is not the same as falling
A high share of price cuts means sellers are adjusting. It does not on its own mean values are down. Of these ten, five show a typical home value below a year ago: Colorado Springs, CO, Raleigh, NC, Denver, CO, Greeley, CO and Dallas, TX. The other five (Salt Lake City, UT, Ogden, UT, Provo, UT, Indianapolis, IN and Columbus, OH) still show values at or above last year, so sellers there are repricing from asking prices that ran ahead of a market that is flat or slowing rather than falling.
That distinction decides what a buyer can expect. Where values are down year over year and cuts are common, offers below list are being accepted. Where values are up and cuts are common, the cut usually brings a listing back to the market rather than below it.
Read it with days to pending
The median metro in this set takes 24 days to go from listing to contract. Eight of the ten cutting metros take longer than that: Colorado Springs, CO, Raleigh, NC, Salt Lake City, UT, Ogden, UT, Provo, UT, Denver, CO, Greeley, CO and Dallas, TX. A high price cut share plus a long wait to pending is the combination that gives buyers room: sellers have already conceded once, and the clock is still running against them.
A high cut share with a short time to pending reads differently. Homes priced to the market are moving; homes that were not are being repriced quickly instead of sitting. Buyers there get a fair price, not a discount.
Sale-to-list closes the loop
Sale-to-list compares what homes sold for with what they were listed at. All ten sit below 1.0, meaning the typical sale closed under the asking price, cuts or no cuts.
What to do with this list
If you are buying in one of these metros, open its page and look at the direction of the price cut share and days to pending over the last year. A share that is still rising means the leverage is still building. A share that has peaked and started to fall means sellers have finished adjusting and the window is closing.
If you are selling in one of them, the market has already told most of your neighbours to come down. Pricing at the level that would have worked last spring costs time first and money second. The methodology page explains how each series is defined, and the all metros index reaches every metro page.
This page is regenerated from the same data files as the rankings, so the numbers here match the metro pages for the month named in the title.