TheMReport — News and strategies for the evolving mortgage marketplace.
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M R EP O RT | 9 MDWELL Source: Redfin analysis of MLS data According to Redfin, half of the homes sold nationwide during the month ending May 16 went for more than their list price, marking a 23% rise from the same period year over year. O ver that four-week span, home prices hit a record high of $352,975 and were up 24% year over year, a new record. Asking prices increased to $358,975, also a record high. Homes recorded a record-high 101.7% average sale-to-list price ratio, which measures how close homes are selling to their asking prices, up 3.2 percentage points year over year. This means that the average home sold for 1.7% more than its asking price. Home Sellers Continue to Land Record Profits Nearly 50% of Homes Sold Above List Price 4-week average share of homes sold above list price