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What percentage of houses are currently selling for at-or-above original asking price?

Since "all real estate is local", it would help if you could identify your locale.

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October 26 2013 - US
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Answers (5)

SoCal
Our board does not break out the number which sold over asking.  I check the hot sheet every day - very few go over asking and most times it's because of seller assist.  So there could be difficulty actually extracting what was over due to demand or necessity.

442 sold at 90.5% of asking. 11 month inventory.  As you say - real estate is local.
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October 27 2013
In-city, Seattle. Thomas Brothers Maps 534,535,564,565. 1093 houses sold. 47% over list, 22% at list. Does not include short sales or sales requiring third party approval.

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October 26 2013
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@CallTheSisters - Yes, I think. Sort of.
-- "442" is the total number of homes sold in the 3rd qtr?
-- "90.5% of asking" is an average?
-- Is "asking" the last listed asking, or the original asking?

@Tim&Rachel - Good point.
-- Probably best to exclude short sales.

While I am thinking, I think what I am asking is...
-- X houses sold
-- Y houses sold at-or-above original list

Maybe more "realistic" to use at-or-above-95% of original list?
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October 26 2013
Depends too if the house is a short sale or not. Most short sales sell for more than the owner lists it for because the bank must agree on the price and the bank has not agreed on the price it is listed for. The bank will also be losing money and they want to lose as little as they can.

Other than short sales no homes in my area are selling for list price and certainly not above it.

tim
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October 26 2013
442 homes sold in the 3rd quarter closing at 90.5% of asking.  Scranton Pa.  Is that what you wanted?
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October 26 2013
 
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