Price Watch
Price cuts in June 2026
32,497 listings across Tokyo, Kanagawa, Saitama and Chiba cut their asking price in June 2026; 6,511 raised it. The number of cuts tracks how much stock is listed. The median cut does not, and tells you how far a seller actually moved.
The counts in this issue predate July 2026, when deduplication of price revisions was corrected. They run high against later months and should not be compared with them. The median cut is barely affected by duplicates, so that figure carries across the whole archive.
Median cut by property type
#The median cut on income buildings, condo units, houses and land, how it has moved, and the June 2026 breakdown. Counts track how much stock is listed; the median cut does not, and tells you how far a seller actually moved.
Income building
5.3%
vs prior month −0.3pt
1,902 obs.
Condominium
4.2%
vs prior month −0.3pt
13,068 obs.
House
4.0%
vs prior month −0.3pt
12,020 obs.
Land
7.3%
vs prior month −0.4pt
5,507 obs.
| Type | Price cuts | Median cut | Deepest fifth | vs prior month | Price rises |
|---|---|---|---|---|---|
| Income building | 1,902 | 5.3% | 10.5% | -0.3pt | 469 |
| 東京都 | 775 | 5.0% | 9.7% | 0.0pt | 221 |
| 神奈川県 | 300 | 5.5% | 10.9% | +0.5pt | 82 |
| 埼玉県 | 256 | 5.2% | 11.1% | -1.0pt | 54 |
| 千葉県 | 216 | 5.4% | 11.4% | -0.3pt | 47 |
| Condominium | 13,068 | 4.2% | 8.1% | -0.3pt | 3,324 |
| 東京都 | 6,483 | 4.0% | 7.2% | -0.2pt | 1,732 |
| 神奈川県 | 2,410 | 4.6% | 9.1% | -0.2pt | 620 |
| 埼玉県 | 1,155 | 5.1% | 10.4% | +0.1pt | 323 |
| 千葉県 | 885 | 5.2% | 10.6% | +0.1pt | 275 |
| House | 12,020 | 4.0% | 8.2% | -0.3pt | 1,490 |
| 東京都 | 2,107 | 3.7% | 7.7% | -0.1pt | 335 |
| 神奈川県 | 2,802 | 3.6% | 6.4% | -0.4pt | 248 |
| 埼玉県 | 2,642 | 3.8% | 7.3% | -0.2pt | 334 |
| 千葉県 | 2,132 | 4.2% | 8.6% | -0.2pt | 247 |
| Land | 5,507 | 7.3% | 15.4% | -0.4pt | 1,228 |
| 東京都 | 1,390 | 6.1% | 11.5% | 0.0pt | 352 |
| 神奈川県 | 1,092 | 6.8% | 13.5% | -0.2pt | 190 |
| 埼玉県 | 1,009 | 7.9% | 16.6% | -0.5pt | 193 |
| 千葉県 | 833 | 9.6% | 20.2% | +0.1pt | 221 |
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Conditions
- A cut is one revision that put a listing's asking price below that same listing's previous asking price. Increases and unchanged prices are not counted.
- The rate is (previous price − revised price) ÷ previous price. What is shown is the month's median, not its mean.
- Figures are counted on the date the price was revised.
- Coverage is sale listings across Tokyo, Kanagawa, Saitama and Chiba, whatever status they now carry.
- "Deepest fifth" is the level one cut in five goes beyond.
- In the prefecture rows, a highlighted figure is the largest in that column for that property type. The columns point in different directions — counts, cut depth, month-on-month, raises — so the colour marks size only, not whether it is good or bad.
What the data says
- 32,497 listings across Greater Tokyo cut their asking price in June 2026 and 6,511 listings raised it, so cuts outnumbered rises 5.0 to one.
- The median cut in June 2026 was deepest on Land at 7.3% and shallowest on House at 4.0% — a 3.3pt gap, so a Land seller concedes about 1.8 times what a House seller does.
- Land does not only have the deepest median at 7.3%, it has the longest tail: one cut in five goes beyond 15.4%. It is the type where the outcome varies most.
- Income building saw 1,902 cuts in June 2026 at a median of 5.3%, and one in five went beyond 10.5%.
- Land saw 5,507 cuts in June 2026 at a median of 7.3%, and one in five went beyond 15.4%.
- Income building moved most from the prior month: its median cut shifted 0.3pt to 5.3% in June 2026.
Median cut over time
| Month | Income building | Condominium | House | Land |
|---|---|---|---|---|
| 2025-07 | 4.8% | 4.4% | 3.9% | 7.4% |
| 2025-08 | 5.0% | 4.4% | 4.0% | 7.2% |
| 2025-09 | 4.9% | 4.4% | 4.0% | 7.2% |
| 2025-10 | 5.3% | 4.3% | 3.9% | 7.4% |
| 2025-11 | 5.2% | 4.4% | 3.9% | 7.2% |
| 2025-12 | 5.6% | 4.3% | 4.0% | 7.4% |
| 2026-01 | 5.3% | 4.3% | 4.2% | 7.1% |
| 2026-02 | 5.5% | 4.4% | 4.2% | 7.3% |
| 2026-03 | 5.4% | 4.4% | 4.2% | 7.4% |
| 2026-04 | 5.4% | 4.4% | 4.2% | 7.2% |
| 2026-05 | 5.6% | 4.5% | 4.3% | 7.7% |
| 2026-06 | 5.3% | 4.2% | 4.0% | 7.3% |
Conditions
- The median cut by property type. The rate is plotted rather than the counts: deduplication of price revisions was corrected in June 2026, so earlier counts are not comparable.
What the data says
- The median cut on Income building has deepened 0.5pt, from 4.9% averaged over the first 3 months to 5.4% over the most recent 3.
- Income building is the only series that clearly moved across the window, by 0.5pt. The other 3 moved less than half as far, which is flat at this scale.
- Across the 12 months shown, the deepest median cut on Income building was 5.6% in December 2025.
Municipalities ranked by median cut
#Tokyo municipalities, deepest median cut first. Only areas with 10 or more observations; samples are small, so the ranking moves month to month.
Income building
| Municipality | Median cut | Records | |
|---|---|---|---|
| Minato (港区) | 7.5% | 15 | |
| Nishitokyo (西東京市) | 7.2% | 14 | |
| Sumida (墨田区) | 6.6% | 28 | |
| Machida (町田市) | 6.5% | 10 | |
| Kita (北区) | 5.9% | 33 | |
| Shinjuku (新宿区) | 5.9% | 25 | |
| Edogawa (江戸川区) | 5.8% | 17 | |
| Adachi (足立区) | 5.5% | 34 | |
What the data says
- The deepest median cut on Income building among Tokyo municipalities in June 2026 was Minato (港区) at 7.5%, on 15 cuts. Only the 26 areas with 10 cuts or more are listed.
- 6 of the top 8 municipalities are inside the 23 wards. On Income building, the deepest cuts sit in the centre rather than the outer suburbs.
- Across the 26 municipalities listed, the median cut runs from 7.5% in Minato (港区) down to 3.6% in Meguro (目黒区).
Condominium
| Municipality | Median cut | Records | |
|---|---|---|---|
| Fussa (福生市) | 7.9% | 10 | |
| Kiyose (清瀬市) | 6.9% | 10 | |
| Inagi (稲城市) | 6.5% | 16 | |
| Higashiyamato (東大和市) | 6.1% | 12 | |
| Machida (町田市) | 5.9% | 39 | |
| Hachioji (八王子市) | 5.6% | 116 | |
| Hino (日野市) | 5.5% | 18 | |
| Ome (青梅市) | 5.2% | 34 | |
What the data says
- The deepest median cut on Condominium among Tokyo municipalities in June 2026 was Fussa (福生市) at 7.9%, on 10 cuts. Only the 43 areas with 10 cuts or more are listed.
- 8 of the top 8 municipalities are in Tama. On Condominium, the deepest cuts sit in the outer suburbs rather than the centre.
- Across the 43 municipalities listed, the median cut runs from 7.9% in Fussa (福生市) down to 3.5% in Kokubunji (国分寺市).
House
| Municipality | Median cut | Records | |
|---|---|---|---|
| Bunkyo (文京区) | 6.4% | 28 | |
| Akiruno (あきる野市) | 5.7% | 37 | |
| Katsushika (葛飾区) | 5.5% | 58 | |
| Toshima (豊島区) | 5.5% | 28 | |
| Shinjuku (新宿区) | 5.4% | 19 | |
| Taito (台東区) | 5.3% | 14 | |
| Sumida (墨田区) | 5.3% | 29 | |
| Shibuya (渋谷区) | 5.2% | 14 | |
What the data says
- The deepest median cut on House among Tokyo municipalities in June 2026 was Bunkyo (文京区) at 6.4%, on 28 cuts. Only the 44 areas with 10 cuts or more are listed.
- 7 of the top 8 municipalities are inside the 23 wards. On House, the deepest cuts sit in the centre rather than the outer suburbs.
- Across the 44 municipalities listed, the median cut runs from 6.4% in Bunkyo (文京区) down to 1.8% in Inagi (稲城市).
Land
| Municipality | Median cut | Records | |
|---|---|---|---|
| Akiruno (あきる野市) | 10.8% | 15 | |
| Ome (青梅市) | 9.2% | 30 | |
| Arakawa (荒川区) | 9.2% | 11 | |
| Hachioji (八王子市) | 8.3% | 91 | |
| Katsushika (葛飾区) | 8.1% | 30 | |
| Hino (日野市) | 8.0% | 30 | |
| Nishitokyo (西東京市) | 8.0% | 21 | |
| Higashikurume (東久留米市) | 8.0% | 30 | |
What the data says
- The deepest median cut on Land among Tokyo municipalities in June 2026 was Akiruno (あきる野市) at 10.8%, on 15 cuts. Only the 43 areas with 10 cuts or more are listed.
- 6 of the top 8 municipalities are in Tama. On Land, the deepest cuts sit in the outer suburbs rather than the centre.
- Across the 43 municipalities listed, the median cut runs from 10.8% in Akiruno (あきる野市) down to 3.4% in Musashino (武蔵野市).
Days to first cut by property type
#Median days from listing to the first time the price moves.
| Type | Days to first cut (median) | Records |
|---|---|---|
| Income building | 145 days | 1,904 |
| Condominium | 129 days | 13,081 |
| House | 136 days | 12,010 |
| Land | 114 days | 5,459 |
What the data says
- Income building waits longest before its price first moves, a median of 145 days, while Land waits 114 days.
Repeat cuts and the sale rate after a cut
#How often a cut was followed by another, and how often it produced a sale.
Distribution of cut counts by property type
| Type | Once | Twice | 3 times | 4 or more | Cut more than once |
|---|---|---|---|---|---|
| Income building | 7,566 | 2,439 | 836 | 649 | 34.2% |
| Condominium | 48,656 | 17,487 | 6,778 | 5,745 | 38.1% |
| House | 42,444 | 18,721 | 9,079 | 9,151 | 46.5% |
| Land | 29,086 | 8,410 | 2,555 | 1,629 | 30.2% |
Conditions
- How many times a listing cut, among those that cut at least once in the past twelve months.
What the data says
- House has 9,151 listings that cut four times or more, against 9,079 that cut exactly three — the reverse of every other type, where each further cut is rarer. Stock that starts falling and does not stop is accumulating here.
- Of the 79,395 House listings that cut at least once in the past 12 months, 46.5% cut again. Land is the lowest at 30.2%.
Sales within 90 days of a cut
| Type | Cut in 2026-03 | Sold within 90 days | Sold |
|---|---|---|---|
| Income building | 1,638 | 229 | 14.0% |
| Condominium | 12,801 | 996 | 7.8% |
| House | 12,581 | 2,829 | 22.5% |
| Land | 6,097 | 1,630 | 26.7% |
Conditions
- Following a cut for 90 days takes 90 days, so this covers listings that cut in 2026-03, not the reported month.
What the data says
- Of the 1,638 Income building listings that cut in March 2026, 229 listings reached a recorded sale within 90 days — 14.0%. The remaining 86.0% were still unsold three months later.
- In the March 2026 cohort a cut worked hardest on Land at 26.7% and least on Condominium at 7.8%.
- Land converted 3.4 times as often as Condominium. The same size of cut buys different odds depending on what is being sold.
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