A third of Boston-area homes listed for sale in October on real estate website Trulia are going for a reduced price.

This is a slight decrease from 35 percent of listings with price reductions in September. The average reduction is 7 percent, the reports shows.

Boston ranked 14th nationwide, with Trulia reporting almost $40 million in the total amount of reductions in the area.

Forty-four of the homes listed on Trulia in Minneapolis were going for a reduced price, the highest number nationwide. Milwaukee; Phoenix; Mesa, Ariz; and Memphis, Tenn., rounded out the top five.

Price reductions for home listings on the market nationwide have increased for the fourth consecutive month. An all-time high 27 percent price reduction accounts for a total reduction of more than $30.7 billion nationwide, according to Trulia. 

"We would normally expect to see a seasonal uptick in price reductions between June and October, as motivated sellers whose homes are still on the market after the summer selling season aggressively cut prices in an effort to get their homes sold before the holidays," said Tara-Nicholle Nelson, Trulia.com consumer educator. "Comparatively speaking, we’ve found that seasonal considerations combined with a lack of urgency on the part of would-be buyers and continued job market doldrums nationwide have led to more significant reductions during this time period than during the same time frame in 2009."

"As robo-signing news developments and foreclosure freezes create uncertainty about buying bank-owned properties – particularly in cities like Las Vegas where foreclosures have been exorbitant – low interest rates and wide-scale price reductions may give individually-owned homes a real desirability boost in the eyes of buyers in the coming months," said Nelson. "This might help home sellers who have had a hard time pricing and marketing their homes to compete with distressed properties get their homes sold before the end of the year."