When it comes to buying a home, being able to negotiate the price can make a huge difference — but sometimes that is easier said than done.
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Bargaining for a better price doesn’t have the same payoff in every market. Some markets are easier to get a bargain and others are much more difficult.
A study published Tuesday by SmartAsset found that the best place to talk your way to a lower home price is in Baltimore, Md.
Rounding out the top three, following Baltimore are Santa Rosa, Calif., and Akron, Ohio, according to the study.
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To calculate its findings, SmartAsset looked at 150 cities across the U.S.
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Baltimore, Md., (pictured) is the city where it pays off the most to negotiate on home price, according to a recent study from SmartAsset. (iStock)
Santa Rosa, Calif., (pictured) is the second-best city to negotiate home price, according to SmartAsset. (Photo by Jane Tyska/MediaNews Group/The Mercury News via Getty Images)
Akron, Ohio, is the third city in SmartAsset’s ranking of places where negotiating on home price pays off the most. The study analyzed 150 cities in the U.S. (iStock)
The report analyzed each city based on its percentage of home listings with a price cut — which happened between July 2018 and June 2019 — and its median price reduction, month-over-month for between July 2018 and June 2019.
SmartAsset found that some of the most prominent cities in the Northeast ranked low on the list, with Philadelphia in 38th place, New York City in 92nd place and Boston in 96th place.
Among the top 25 cities, SmartAsset also found that 14 were in the South.
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To see the top-ranking cities, here are the 10 places where negotiating a home price pays off the most, according to SmartAsset.
1. Baltimore, Md.
2. Santa Rosa, Calif.
3. Akron, Ohio
4. Shreveport, La.
5. Salt Lake City, Utah
6. Portland, Ore.
7. Seattle, Wash.
8. Richmond, Va.
9. Dallas, Texas
10. Grand Rapids, Mich.
