The number of wildly-over-the-list-price sales are slowing, but there are still a few happening. Here are five recent sales that closed for +19%, +12%, +23%, +14%, and +42% OVER their list price.
Frenzy Cruise, June
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Frenzy Cruise
Frenzy Cruise 2024
How do buyers decide how much to pay over the list price? These days, the standard seems to be around +$100,000 over the list price, with a few outliers.
Frustration Fee
It's amazing how resilient the local market has been, and how willing buyers are to paying over the list price. I don't have any evidence to suggest that the transparency has improved (most listing agents refuse to say anything about existing offers, if any) and...
Frenzy Cruise 11
The buyer-agent is under seige, and is being phased out. I love representing buyers and I think I have a lot to offer. But when I consistently get my butt kicked up and down the street by every listing agent I encounter, it just makes me want to go get another...
Cruising The Frenzy
Above is a sampling of the 163 NSDCC detached-home sales in May! Some details here:
Wide Variety of Frenzy
Frenzy Cruise 8
There probably aren't many people today who expect to see any frenzy left in the marketplace. But here's a view from the street, looking at actual sales closed over the last 30 days. At 22 minutes, this turned into a full-length feature film (sorry), but consider it...
Frenzy Cruise 7
There may not be many more of these! At the end of the video, I promised some pricing data and of course the MLS is down tonight so if you came to see list prices vs. sales prices, check back tomorrow.
100% Sold In Ten Days or Less
Here is a good sampling of the NSDCC pricing decisions made in May (mortgage rates started going up the first of April). The days-on-market are on the left. Days on Market: All 28 found their buyer quickly - only one took as long as ten days! Paid Over List: 21 of 28...
Frenzy Cruise 5
While the market may be calming down, there are still properties selling for well over the list price!
