The trend of paying over the list price appears to have stabilized. The 212 July sales makes it look like there was quite a surge after a couple of slower months, so buyers must have gotten excited! But the median price has settled in at $2,300,000: The median sales...
The over-list sales help to identify the enthusiasm in the marketplace. Looking back to 2021 and early 2022 on the graph above, you can sense how wild it was with most buyers paying more than the asking price. But since then mortgage rates have doubled, and the...
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...
Even with high prices and rates, home buyers insist on paying over the list price! It is good to see 200 sales again too - it's been a while! NSDCC Monthly Sales and Pricing
This was going to be the big test. The controversial local brokerage in Los Altos was offering a measly $10,000 commission to the buyer-agents on their listings, most of which were $4,000,000 and up. They listed a similar house on a quiet street about a mile away for...
The Over-List buys jumped up to 30% in February as the selling season got an early start in 2024. The 156 sales in February is the real proof, and the pricing is the highest since the peak in early 2022: The market is already in full-tilt boogie mode!
There were 23 buyers who paid over the list price last month. There were 29 in the previous month, but because there were 20 fewer sales in December, the percentage looks much larger. Cash buyers purchased 41 of the 107 sales, or 38%. Fifteen of the sales were...
The total number of December sales is up to 86, and there's a chance it might get to 100 but it will probably take another month before all the late-reporters check in. But we saw that 12 buyers were willing to pay $100,000+ over list , and the 34% is a nice pop for...
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...
If there was going to be a time when the local market might soften up a bit, it would be around November/December, wouldn't it? If the majority of the recent sales closed at 10% discounts or more, then it would be nervous time, but most buyers are still paying fairly...
