The percentage of buyers who were willing to pay over list cooled a bit in August:
NSDCC Detached-Home Sales, % Closed Over List Price
There were 28% of the total sales that closed for $100,000+ over list price! (July was 33%)
The mix was remarkably similar to previous months:
Percentage Who Paid Over List Price by Price Range
|$0 – $1.0M|
|$1.0M – $1.5M|
|$1.5M – $2.0M|
|$2.0M – $3.0M|
The average prices were down just slightly, but the medians went up:
NSDCC Average and Median Prices
Compared to last August, the average sales price was +27%, and the median sales price was +37%!
In July, they were +31% and +30%.
Fewer sales, and higher prices. Sales should taper off the rest of the year, but not sure if pricing will follow!