{"id":11966,"date":"2021-05-26T14:46:28","date_gmt":"2021-05-26T21:46:28","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=11966"},"modified":"2021-05-26T14:46:31","modified_gmt":"2021-05-26T21:46:31","slug":"half-of-homes-are-now-selling-above-list-price-report","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/half-of-homes-are-now-selling-above-list-price-report","title":{"rendered":"Half of Homes Are Now Selling Above List Price, Report"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"501\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-80x53.jpg\"  alt=\"\"  class=\"wp-image-11970 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-750x501.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-750x501.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-300x200.jpg 300w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-1024x683.jpg 1024w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-768x513.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-1536x1025.jpg 1536w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-2048x1367.jpg 2048w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-380x254.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-800x534.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-1160x774.jpg 1160w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512-80x53.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2021\/05\/25164916\/GettyImages-521203512.jpg 2120w\" ><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">A record high of 50 percent of homes have recently sold for above their list price, according to a new\u00a0<a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-half-of-homes-sell-above-list-price\/\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>\u00a0from real estate brokerage Redfin. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report analyzed 400 U.S. metro areas during the 4-week period ending May 16, marking an increase of 23 percentage points from the same period a year earlier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, it&#8217;s important to note that at this time last year, pandemic stay-at-home orders halted home buying and selling, which makes year-over-year comparisons unreliable for select housing metrics. As such, Redfin broke down the report into two sections: metrics for which a year-over-year comparison remains most relevant, and metrics for which it makes more sense to compare to the same period in 2019. See more below.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-metrics-to-compare-to-2020\"><span id=\"metrics-to-compare-to-2020\">Metrics to compare to 2020:<\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Home prices hit a record high of $352,975 and were up 24% year over year, also a record. Asking prices increased to $358,975, also a record high.<\/li><li>A record high of 50% of homes sold for more than their list price, up 23 percentage points from the same period a year earlier.<\/li><li>A record-high 101.7% average sale-to-list price ratio, which measures how close homes are selling to their asking prices, up 3.2 percentage points year over year. This means that the average home sold for 1.7% more than its asking price.<\/li><li>A record low of just 17 days on market for homes that sold during the period, down 18 days from the same period in 2020.<\/li><li>A record-high 58% of homes that went under contract had an accepted offer within the first two weeks on the market.<\/li><li>45% of homes that went under contract had an accepted offer within one week of hitting the market, down just slightly from the record high in the four-week period ending May 9.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-metrics-to-compare-to-2019\"><span id=\"metrics-to-compare-to-2019\">Metrics to compare to 2019:<\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Pending home sales were up 22% from the same period in 2019.<\/li><li>New listings of homes for sale were down 12% from the same period in 2019. Compared to the four-week period ending April 18, new listings were up 3%, compared to a 7% increase during the same period in 2019.<\/li><li>Active listings (the number of homes listed for sale at any point during the period) fell 49% from the same period in 2019.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Read the full report <a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-half-of-homes-sell-above-list-price\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"A record high of 50 percent of homes have recently sold for above their list price.\n","protected":false},"author":13,"featured_media":11970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[6],"tags":[1663,5057,4791],"class_list":["post-11966","post","type-post","status-publish","format-standard","has-post-thumbnail","category-in-house-news","tag-real-estate","tag-real-estate-market","tag-real-estate-news","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Half of Homes Are Now Selling Above List Price, Report<\/title>\n<meta name=\"description\" content=\"A record high of 50 percent of homes have recently sold for above their list price.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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