Sales that close over their list price are tapering off now.

It’s not as bad as it was in 2022 when rates began their rise, but you can see that last year the percentage was steady through summer. Maybe our faster start this year exhausted the enthusiasm earlier?

Of the 38% of sales that closed over list, just over half of them were under $2,000,000.

The pricing enthusiasm is cooling off too. Note the relationships between the DOM (days on market) and the discounts below. Exactly NONE of the these homes sold over their list price after they were on the market more than seven days: