Usually A Price Drop Is $10, $20, $30,000, But $130,000 $200,000 Drops, That’s Huge

A report from Space Coast Daily in Florida. “The Brevard County housing market showed clear signs of cooling in April 2025, with both single-family and condo sales declining, inventory levels rising, and median prices retreating from previous highs. ‘We’re not seeing a downturn — we’re seeing a rebalancing,’ said Nikki McCoy Freeman, with McCoy Freeman Compass. ‘The urgency is slowing, and savvy buyers are stepping back in with more negotiating power. Sellers who adapt to the new market conditions are still making successful moves.’ The median sales price for a single-family home fell slightly to $375,000, down 2.3% from the prior year. The median price for a condo or townhouse fell 13.6%, from $330,000 in April 2024 to $285,000. Inventory in this segment rose sharply. The months’ supply of inventory jumped to 8.8 months, a 44.3% increase, placing condos and townhomes firmly in buyer’s market territory. As Brevard’s housing market enters a more balanced phase, real estate professionals emphasize the importance of adjusting expectations. ‘With more inventory available and prices coming off their highs, this is the most favorable market for buyers we’ve seen in years,’ Freeman said.”

From WFLX. “WFLX recently spoke with Joshua Connor, the head of his own insurance adjuster firm, Coastal Claims Consultants in Pompano Beach, about the situation. He is a vocal critic of the state of insurance in Florida. ‘We’ve seen the absolute erosion of policies,’ Connor said. ‘The possibility of an insurance company getting a claim right from the beginning, I would say, is about 3%.’ Outside adjusters hired by insurers and an increase in relying on artificial intelligence and drones for handling claims have led to insurance not being the safety net it once was, according to Connor. ‘One of the biggest complaints I hear is that people don’t have a clue what they’re signing up for,’ Connor said. ‘Agents are great at trying to find ways to reduce premiums when people are upset with their price, but there’s this absolute disconnect between agents and policyholders about what their policy covers.'”

Curbed New York. “A lavish five-bedroom apartment at the Plaza with ornate gold detailing has sold for $21 million, according to city records — $5 million less than a company linked to Russian airport billionaires Valery Kogan and his wife, Olga, paid in 2007. The Kogans, who bought two units from the developer Elad and combined them into a regal spread that incorporates one of the hotel’s turrets, first listed the apartment for $45 million in 2020. It’s yet another money-losing resale for the fabled hotel, which has seen a number of high-profile flops.”

From Colorado Biz. “The Colorado housing market saw a noticeable increase in inventory in April, although buyer activity remains flat, according to the latest Market Trends Housing Report from the Colorado Association of Realtors. ‘More homes are coming on the market at a faster pace and not coming off quite as fast,’ said Cooper Thayer, a Denver-based real estate broker. ‘We’re seeing intense competition and a race to the bottom between listings. Similar houses at similar prices are competing for the same buyer. It can be a challenge to differentiate. The No. 1 thing you can do is swallow your pride. Competitive pricing is the best way to get more eyes on your listing.'”

“Aurora Realtor Sunny Banka said 2025 is proving to be one of the more disappointing housing markets for many sellers. Buyers are worrying about cost, forcing sellers to lower their listing prices. The inventory is up more than 35% in the Aurora, Adams County and Arapahoe County areas, she said.
‘There is a lot of trepidation,’ she said. ‘Some people are worried that they may not want to stay in Colorado.’ Banka noted that many of the listings are rental properties because landlords are anxious to exit the business due to new regulations. ‘Over the past two years, I’ve probably had about 20 people who have gotten rid of their rentals and bought in Tennessee, Florida, Arizona, Idaho, Wyoming and Utah,’ Banka said. ‘Being a landlord is not a problem. Being a landlord in Colorado is a big problem.'”

East Bay Times in California. “No one’s calling this a buyer’s market yet — but agents are saying that conditions for Bay Area homebuyers may be as good as they’re going to get this year. And notably, the number of listings with price drops is also on the rise from last year. ‘Homebuyers have never had more selection in the last five years than they have right now,’ said Rick Fuller, a real estate agent based in Concord. As of April, the number of active listings in the nine-county Bay Area was at a five-year high, according to data from the Federal Reserve Bank of St. Louis. ‘Sellers generally set their prices hoping to achieve a higher sales price than their neighbors did. Now sellers are seeing that they can’t just keep pushing the limits of prices.'”

“‘We’re seeing more listings than buyers, and that’s the first time we’ve seen that in at least 10 years,’ said Paddy Kehoe, an agent based in Lafayette. April saw some of the largest dips in the stock market since the start of the pandemic, followed by big rallies as Trump reduced tariffs for some countries. At this point, the market has largely recovered, and people are cautiously returning to the market, said Finola Fellner, an agent in Lafayette. ‘When the tariffs started in early April, the market came to a screeching halt,’ she said. ‘Buyers aren’t moving as quickly as they once were,’ she said. ‘They’re now being more thorough than ever. They’re not desperate.'”

CBS 8 in California. “What happens when a tenant stops paying rent, but the legal system prevents the landlord from evicting them for months? That’s the reality for many small landlords across San Diego County. In El Cajon, Dana Logsdon says his tenants stopped paying rent last September after living in the home for over a decade. What followed was six months of non-payment and vague promises. ‘I would request, ‘When can we expect a payment?’ and they’d say, ‘We don’t know, we’re working on it,’ said Logsdon. Faced with a slow-moving court process and increasing legal fees, Logsdon made a difficult decision. His attorney offered to forgive the $22,000 in unpaid rent if the tenants would simply leave. The tenants finally vacated the home in April. Now, Logsdon is focused on remodeling the interior and moving on. ‘He negotiated and said, ‘Look, if you guys leave now, we’re going to forgive it, but they could have dragged it out another six months,’ Logsdon said.”

“In Mission Valley, Trent Ralston is still in the thick of it. His tenant stopped paying rent after the first month nearly a year ago. Since then, Ralston says the unpaid rent has piled up to over $30,000. ‘The wedding plans had to stop, the Pop Warner leagues and all the other plans had to stop because the financial burden got really high,’ he said. ‘We had to refinance the house just to afford this.’ Even after a judge ruled in his favor, it took months for the proper documents to be made available from the court. Ralston says he’s now been waiting weeks for the Sheriff’s Department to carry out the lockout.”

Global News in Canada. “Vancouver realtor and investor, Steve Saretsky, says the market is becoming so saturated that realtors are turning down listings. ‘The inventory is stacking up, it’s not selling,’ he said. ‘Which is to say, there are a lot of realtors out there working for free.’ Home sales in Greater Vancouver are at their lowest since 2020 and Saretsky said sellers’ expectations in a buyers’ market are not always aligned with reality. This means that listings that may have sold fast and over the asking price now might take more resources and time to close the deal — if at all. Realtor Roman Krzaczek told Global News that people need to adjust their expectations a little bit. ‘It seems like there’s a lot of listings that are being relisted because they didn’t sell last year and people are expecting the same price and that’s not very realistic in today’s market,’ he said.”

“He added on Monday he saw a listing on Quadra Island drop from the $1.4 million list price to $1.3 million. ‘My listing, we recently dropped the price from $1.2 (million) to $995,000,’ he added. Krzaczek said he has not seen price drops like this in the market since he started in the business 10 years ago. ‘Usually a price drop is $10, $20, $30,000,’ he said. ‘But $130,000 $200,000 drops, that’s huge. So I don’t know what’s happening but it looks like there’s some kind of a price adjustment happening right now.'”

CBC News in Canada. “Years after they lost tens of thousands of dollars by investing with Fortress Real Developments, several investors are hoping to see the company’s principals found guilty of criminal fraud in Toronto Wednesday. Justice Daniel Moore will deliver his judgment in the judge-alone criminal fraud trial of Jawad Rathore and Vince Petrozza, who stand accused of misleading investors on two never-realized projects: the mixed-use Collier Centre in Barrie, Ont., and a condo tower called SkyCity in Winnipeg. The charges related to syndicated mortgages, which are loans made by several investors to cover initial development costs like marketing and zoning, with the land itself acting as collateral.”

“After 38 years as a federal employee, Linda Bilorosek of Burlington Ont., invested her entire retirement savings in the SkyCity project. Of her $63,000 investment, she lost about $56,000. ‘I was a single parent and it was all the savings that I had … I was pretty devastated, said Bilorosek, who is hoping Moore delivers a guilty ruling. ‘It’s not going to bring back my money. That’s not going to happen. But at least it’s some kind of satisfaction that they have to pay for what they did,’ she said. Barry Stevens, an investor from Orleans, Ont., previously told CBC News he sunk $400,000 into a handful of Fortress projects, including SkyCity. When Rathore and Petrozza were charged, he said he had lost so much of his retirement savings that he was forced back to work full time. Nicki Peters, who also lives in Toronto, lost $100,000 in the Collier Centre project. She said she felt ‘heartbroken, defeated, deceived’ once it became clear that she had lost money.”

The Cancun Sun. “The once-sizzling real estate market in Tulum, a jewel of the Mexican Caribbean famed for its turquoise waters and bohemian chic, is facing a significant cooling period. A glut of new properties has flooded the market, leading to a sharp 40% drop in sales and a plunge in rental prices, a prominent industry leader has confirmed. This dramatic shift has ignited a ‘price war’ among developers desperate to sell their units in a market suddenly crowded with options, primarily studio, one-, and two-bedroom apartments. Mario Antonio San Miguel Herrera, the newly inaugurated president of the Mexican Association of Real Estate Professionals (AMPI) in Tulum, acknowledged the stark reality. He explained that the current oversupply is largely a consequence of unchecked speculation and a rush of aspiring developers entering the market after the COVID-19 pandemic.”

“‘After COVID-19, many investors came to Tulum with the dream of becoming developers,’ San Miguel Herrera stated in an interview following his association’s leadership change. This wave of new entrants, combined with established developers significantly expanding their projects, created the current surplus. ‘We’re experiencing this oversupply today; there are enough units to last three or four years of sales,’ he revealed, painting a picture of a market saturated with inventory. Compared to the frenetic pace of previous years, ‘today property purchases have decreased by 40%, and rents have fallen by 80%,’ the AMPI president disclosed. These figures underscore a dramatic reversal from the boom times that saw Tulum properties as must-have investments.”