Over List, April

by | May 10, 2022 | 2022, Frenzy, Over List | 3 comments

Will April be the peak month of buyers paying over the list price?

NSDCC Detached-Home Sales, % Closed Over List Price

Hard to imagine that there will ever be another month where nearly three-quarters of the home buyers end up paying over the list price!

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How about those $3,000,000+ home buyers!

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NSDCC Average and Median Prices

Month
# of Sales
Avg. LP
Avg. SP
Median LP
Median SP
Feb
224
$2,298,797
$2,257,334
$1,719,500
$1,758,000
March
252
$2,295,629
$2,260,524
$1,800,000
$1,825,000
April
357
$2,396,667
$2,403,962
$1,799,900
$1,828,000
May
300
$2,596,992
$2,581,715
$1,900,000
$1,994,500
June
348
$2,509,175
$2,537,953
$1,900,000
$1,967,500
July
311
$2,421,326
$2,442,738
$1,795,000
$1,855,000
Aug
268
$2,415,075
$2,438,934
$1,897,000
$1,950,000
Sept
278
$2,479,440
$2,445,817
$1,899,000
$1,987,500
Oct
248
$2,754,470
$2,705,071
$1,899,000
$1,899,500
Nov
199
$2,713,693
$2,707,359
$1,999,000
$2,100,000
Dec
189
$2,686,126
$2,664,391
$1,985,000
$2,157,500
Jan
140
$2,828,988
$2,855,213
$2,234,944
$2,240,000
Feb
156
$3,058,406
$3,104,854
$2,149,500
$2,386,500
Mar
206
$3,254,033
$3,342,384
$2,425,000
$2,625,000
Apr
224
$3,205,239
$3,267,447
$2,372,500
$2,575,000

Whoops – after the average sales price went up 7% MoM in January, 9% in February, and 8% in March, it dropped by 2% in April.

Same here – after the median sales price went up 4% MoM in January, 7% in February, and 10% in March, it dropped 2% in April too!

The median sales price could drop another 15% this year and still be in positive territory for 2022. Yet it would feel like a complete meltdown of epic proportions!

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3 Comments

  1. Rob_Dawg
    Rob_Dawg on May 11, 2022 at 11:47 am

    Some of those houses from your 2009 post link earlier are now worth 3-4x their then sales prices.

    I saw my prediction that we’d stop falling by 2011 and bump along until 2013-14. Not bad.

  2. Jim the Realtor
    Jim the Realtor on May 11, 2022 at 5:16 pm

    Right on the money!

    More bumpy ahead too.

  3. Larry Webb
    Larry Webb on May 12, 2022 at 2:55 am

    Amazing! Who would have thought?!

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