Huge declines in asking prices in Detroit, Riverside, Florida, Las Vegas

The website HousingTracker.net has been compiling 25th, 50th, and 75th percentile asking prices since the summer of 2005. The trend is not pretty.

In Detroit the market has completely collapsed. In 8/05 the 25th percentile asking prices were 90K. Now it’s 40K. A decline of more than 50%.

In Miami it’s the high end rather than the low end that has suffered the most, falling from more than $700,000 for the 75th percentile to just $479,900 now.

In the Riverside area the drop in median asking prices is from $475,000 to $299,900.

In Las Vegas, median asking prices peaked in early 2006 at 349,900. They are now at $250,000.