The percentage of properties selling below asking price remained flat from last year at 36%. The percentage of properties selling above asking price increased from 34% last year to 35%. The percentage of properties selling at asking price increased to 29%.
This is incredible: For the 35% of properties selling above asking price, the average premium paid over the asking price increased to 9.3% from 6.8% last month and 7.8% last year:
The share of properties that received multiple offers was 64%, down from 74% last month and 66% last year. Also, the proportion of properties with three or more offers decreased to 40%. The average number of offers per property remain at 2.8 offers from a year ago:
Throughout California, the majority of homes sold are being purchased by people who intend to live in them:
Owners like being owners – and the rich get richer: