The trend of paying over the list price continues!
NSDCC Detached-Home Sales, % Closed Over List Price
Most sellers and agents are happy just to get 1% to 5% over list.
The big winners who got 20% or more over list:
Most % Over List Price
NSDCC Sales, April: 343
(the number of sales was 29% higher than in April, 2019)
Average List Price: $2,396,667
Average Sales Price: $2,403,962 (100%)
Median List Price: $1,799,900 ($100k higher than it was at the mid-April checkpoint)
Median Sales Price: $1,828,000 (102%)
Over List By Price Range:
Under $1.0M: 23 (79% of all sales)
$1.0M – $1.5M: 65 (78%)
$1.5M – $2.0M: 63 (665)
$2.0M – $3.0M: 23 (32%)
Over $3.0M: 15 (22%)
Some people have asked about the biggest winner because I sold the same model up the street for $1,900,000 in March. It had listed for $1,800,000. and there were three comps around $1.8 million then. My buyers offered the customary $100,000 over list and a 17-day escrow to win it, and they did.
It was the same model, with similar upgrades (mostly original), and similar peak ocean view, though the biggest winner had a larger culdesac lot which allowed for a pool and good-sized grass area, and the sellers had smartly added new wide-plank hardwood floors and did staging.
I know an agent who had buyers in the running at $2,200,000 but bowed out at that point. But he thought there were three other buyers going higher.
It sold for $2,450,000, which was 36% above the comps from the beginning of the year!
I can’t apply any rational real estate practices to explain it.