Nearly 6,000 US homes sold for at least $100,000 above asking price this year – NMP
Nearly 6,000 U.S. homes sold for at least $100,000 above asking price this year, more than double the number of homes that sold well above asking price during the same period. last year, real estate brokerage Redfin reported Tuesday.
An analysis by Redfin found that 5,897 homes nationwide sold for at least $100,000 above asking price between January 1 and February 15, 2022. During the same period last year, 2 241 homes sold for at least $100,000 above asking price, Redfin said. .
“Homebuyers are paying with the goal of beating other bidders competing for the few homes on the market,” Redfin said, reporting that January was the most competitive month.
Many homebuyers who closed in early 2022 rushed to take advantage of December’s 3.1% fixed 30-year mortgage rates before they started to rise, Redfin said.
More than 700 homes sold for at least $100,000 above the asking price in Los Angeles, making it the first market in the country with the most homes selling for significantly more than the list price.
The next six markets that saw the same type of price activity included Oakland, CA, San Jose, CA, Seattle, Anaheim, CA, San Francisco, and San Diego.
Boston saw 158 homes sell for at least $100,000 above asking price compared to 109 homes in New York. One hundred and twenty-five homes in Denver sold for at least $100,000 above asking price, Redfin reported.
In the first six weeks of 2021, Oakland, Calif., was the top market with homes selling for more than $100,000 above list price. Los Angeles came in second with 273 homes sold for the same amount above asking price.
“On top of a lack of homes for sale, which makes everything a hot commodity, buyers are just plain impatient,” said Los Angeles-based Redfin agent Sylva Khayalian.