The trend of paying over the list price continues!

NSDCC Detached-Home Sales, % Closed Over List Price

January: 38%

February: 43%

March: 53%

April: 55%

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%)

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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%)

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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!

https://www.compass.com/listing/6343-di-vita-drive-carlsbad-ca-92009/744821423213993689/

I can’t apply any rational real estate practices to explain it.