Impressive momentum to wrap up the year, with almost half of the buyers feeling the need to pay over list:
NSDCC Detached-Home Sales, % Closed Over List Price
January: 38%
February: 43%
March: 53%
April: 55%
May: 54%
June: 59%
July: 64%
August: 55%
September: 41%
October: 45%
November: 48%
December: 48%
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Have the higher-end buyers figured it out that paying over list could be a ruse though?
Percentage Of Sales Over List Price by Price Range
Price Range | ||||||||||
$0 – $1.0M | ||||||||||
$1.0M – $1.5M | ||||||||||
$1.5M – $2.0M | ||||||||||
$2.0M – $3.0M | ||||||||||
$3M+ |
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The December sales were a little soft, historically, but the inventory has been decimated:
NSDCC December Sales
2017: 224
2018: 196
2019: 227
2020: 290
2021: 182
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NSDCC Average and Median Prices
Month | |||||
Feb | |||||
March | |||||
April | |||||
May | |||||
June | |||||
July | |||||
Aug | |||||
Sept | |||||
Oct | |||||
Nov | |||||
Dec |
The median list price dropped and the median sales price went up!
The median sales price is 9% higher than the median list price!
The average LP and SP were almost identical for the second month in a row.
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Remember when I said (a few times now) that buyer-agents are toast?
For the first time, real estate giant Realogy is publicly calling for the National Association of Realtors to end a requirement that listing brokers offer commissions to buyer brokers in order to submit listings to Realtor-affiliated multiple listing services.
so what happens to contingent buyers using a listing agent to sell their current residence?