{"id":11307,"date":"2021-03-24T19:59:24","date_gmt":"2021-03-25T02:59:24","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=11307"},"modified":"2021-03-24T19:59:26","modified_gmt":"2021-03-25T02:59:26","slug":"a-record-breaking-36-of-homes-sold-above-list-price-in-february-report","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/a-record-breaking-36-of-homes-sold-above-list-price-in-february-report","title":{"rendered":"A Record-Breaking 36% of Homes Sold Above List Price in February, Report"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

From an increase last seen in July 2013, the national median home-sale price rose 14.4% year-over-year to $336,200 in February, according to a report by real estate brokerage Redfin<\/a>.<\/p>\n\n\n\n

Meanwhile, closed home sales were up 5% from a year earlier and pending sales were up 21%. New listings fell 16%\u2014the second-largest decline on record.<\/p>\n\n\n\n

\u201cThis is the strongest seller\u2019s market since at least 2006. Buyers outnumber sellers by such a huge margin that many homeowners are staying put because they know how hard it would be to find a place to move to. It seems like the only move-up buyers who are confident enough to list their homes are those who are relocating to a more affordable area where they\u2019ll have an edge on the local competition.\u201d<\/p>\u2014Redfin Chief Economist Daryl Fairweather<\/cite><\/blockquote>\n\n\n\n

Home buyer competition has been fierce nationwide, where 36% of homes sold in February went for more than their asking price, driving up overall home values.<\/p>\n\n\n\n

In Phoenix alone, the median home sale price in February was $355,000 with a 2.9% change month-over-month and 18.5% gain year-over-year.<\/p>\n\n\n\n

About 7,698 of Phoenix homes that sold last month resulted in an 8.5% month-over month-change along with a 5.8% increase year-over-year. Meanwhile, new home listings numbered 8,039 in Phoenix, which was down 1.2% month-over-month and 7.1% year-over-year.<\/p>\n\n\n\n

Click here<\/a> to read the full report.<\/p>\n","protected":false},"excerpt":{"rendered":"Historic competition for homes pushed sale prices up 14% as new listings fell 16%.\n","protected":false},"author":13,"featured_media":11314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[5004,4985,4275],"class_list":{"0":"post-11307","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-in-house-news","8":"tag-home-sales","9":"tag-real-estate-advice","10":"tag-real-estate-trends","11":"cs-entry","12":"cs-video-wrap"},"yoast_head":"\nA Record-Breaking 36% of Homes Sold Above List Price in February, Report<\/title>\n<meta name=\"description\" content=\"Historic competition for homes pushed sale 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