Metros where homes are selling for the most over asking price
Canva
Metros where homes are selling for the most over asking price
It’s a tough time to be in the market for a new house.
The Federal Reserve’s efforts to curb inflation have pushed interest rates to levels not seen for more than two decades. Rates for 30-year mortgages surpassed 7% again as of Aug. 17. Even a half of a percentage point change can significantly affect the monthly payments required for a mortgage.
Since mortgage rates were under 4% for the better part of the past decade, many homebuyers locked in far more affordable rates than what’s suddenly on offer in today’s environment. And sellers aren’t exactly coming down on price—home prices are still increasing—just more leisurely than they did during the height of the pandemic.
Despite these high prices, homes are still selling, even if slowly. Some homes are even selling for more than the list price as sellers continue to have the upper hand in these markets.
Stacker analyzed data from Redfin to see which metros had the most homes sold over the asking price. Data shows sales for June 2023. Metros with fewer than 300 home sales are excluded from this list. Metro areas are ranked on the average sale-to-list ratio—a ratio of sale price divided by list price—for homes that sold in June. Values are rounded to the nearest hundredth. Also listed are the metro area’s median listing prices for homes on the market in June and median sale prices for those homes that sold during that month.
Sean Pavone // Shutterstock
#50. Wichita, KS metro area
– Average sale-to-list ratio: 1.01
– Median list price: $239,900
– Median sale price: $240,000
– Total homes sold: 905
– Share that sold above list: 40.6%
Canva
#49. Eugene, OR metro area
– Average sale-to-list ratio: 1.01
– Median list price: $479,450
– Median sale price: $462,000
– Total homes sold: 373
– Share that sold above list: 42.4%
marchello74 // Shutterstock
#48. Chicago, IL metro area
– Average sale-to-list ratio: 1.01
– Median list price: $334,900
– Median sale price: $345,000
– Total homes sold: 8,660
– Share that sold above list: 49.6%
IMG_191 // Shutterstock
#47. Rochester, MN metro area
– Average sale-to-list ratio: 1.01
– Median list price: $309,900
– Median sale price: $310,000
– Total homes sold: 409
– Share that sold above list: 46.7%
Canva
#46. Sacramento, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $599,900
– Median sale price: $574,000
– Total homes sold: 2,083
– Share that sold above list: 53.3%
Sue Stokes // Shutterstock
#45. Bremerton, WA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $574,995
– Median sale price: $552,365
– Total homes sold: 397
– Share that sold above list: 43.3%
Canva
#44. Anaheim, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $1,100,000
– Median sale price: $1,059,500
– Total homes sold: 2,022
– Share that sold above list: 49.7%
Michael Heimlich // Shutterstock
#43. Lake County, IL metro area
– Average sale-to-list ratio: 1.01
– Median list price: $350,000
– Median sale price: $361,500
– Total homes sold: 1,087
– Share that sold above list: 54.4%
Canva
#42. Cincinnati, OH metro area
– Average sale-to-list ratio: 1.01
– Median list price: $285,000
– Median sale price: $285,000
– Total homes sold: 2,593
– Share that sold above list: 48.9%
Jon Bilous. // Shutterstock
#41. Oxnard, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $875,000
– Median sale price: $859,000
– Total homes sold: 525
– Share that sold above list: 52.0%
Showcase Imaging // Shutterstock
#40. Akron, OH metro area
– Average sale-to-list ratio: 1.01
– Median list price: $200,000
– Median sale price: $203,650
– Total homes sold: 874
– Share that sold above list: 51.7%
Sherry V Smith // Shutterstock
#39. Virginia Beach, VA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $345,000
– Median sale price: $346,000
– Total homes sold: 2,819
– Share that sold above list: 53.1%
Daniel Case // Shutterstock
#38. Anchorage, AK metro area
– Average sale-to-list ratio: 1.01
– Median list price: $395,000
– Median sale price: $400,000
– Total homes sold: 551
– Share that sold above list: 46.6%
Jacob Boomsma // Shutterstock
#37. Warren, MI metro area
– Average sale-to-list ratio: 1.01
– Median list price: $305,000
– Median sale price: $305,000
– Total homes sold: 3,402
– Share that sold above list: 51.6%
California Droning // Shutterstock
#36. Vallejo, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $590,000
– Median sale price: $585,000
– Total homes sold: 386
– Share that sold above list: 55.7%
Wangkun Jia // Shutterstock
#35. Barnstable Town, MA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $699,000
– Median sale price: $656,000
– Total homes sold: 411
– Share that sold above list: 49.4%
Jacob Boomsma // Shutterstock
#34. Lincoln, NE metro area
– Average sale-to-list ratio: 1.01
– Median list price: $314,900
– Median sale price: $299,000
– Total homes sold: 478
– Share that sold above list: 49.8%
ImagineerInc // Shutterstock
#33. Charlottesville, VA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $435,280
– Median sale price: $467,000
– Total homes sold: 387
– Share that sold above list: 45.7%
Real Window Creative // Shutterstock
#32. Harrisburg, PA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $280,000
– Median sale price: $266,700
– Total homes sold: 686
– Share that sold above list: 49.7%
Dancestrokes // Shutterstock
#31. San Diego, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $898,000
– Median sale price: $870,000
– Total homes sold: 2,143
– Share that sold above list: 54.9%
Strike First // Shutterstock
#30. Los Angeles, CA metro area
– Average sale-to-list ratio: 1.01
– Median list price: $899,000
– Median sale price: $860,750
– Total homes sold: 4,872
– Share that sold above list: 53.0%
Canva
#29. Wilmington, DE metro area
– Average sale-to-list ratio: 1.01
– Median list price: $339,900
– Median sale price: $335,000
– Total homes sold: 743
– Share that sold above list: 49.0%
f11photo // Shutterstock
#28. Baltimore, MD metro area
– Average sale-to-list ratio: 1.01
– Median list price: $379,000
– Median sale price: $380,000
– Total homes sold: 3,469
– Share that sold above list: 53.2%
Canva
#27. York, PA metro area
– Average sale-to-list ratio: 1.02
– Median list price: $260,000
– Median sale price: $276,500
– Total homes sold: 546
– Share that sold above list: 48.7%
Cheri Alguire // Shutterstock
#26. Rockford, IL metro area
– Average sale-to-list ratio: 1.02
– Median list price: $186,000
– Median sale price: $172,500
– Total homes sold: 381
– Share that sold above list: 58.0%
Canva
#25. Elgin, IL metro area
– Average sale-to-list ratio: 1.02
– Median list price: $345,000
– Median sale price: $340,000
– Total homes sold: 942
– Share that sold above list: 57.6%
trekandshoot // Shutterstock
#24. Santa Rosa, CA metro area
– Average sale-to-list ratio: 1.02
– Median list price: $850,000
– Median sale price: $810,000
– Total homes sold: 419
– Share that sold above list: 54.4%
Sean Pavone // Shutterstock
#23. Columbus, OH metro area
– Average sale-to-list ratio: 1.02
– Median list price: $339,900
– Median sale price: $340,000
– Total homes sold: 2,601
– Share that sold above list: 53.7%
Christian Hinkle // Shutterstock
#22. Frederick, MD metro area
– Average sale-to-list ratio: 1.02
– Median list price: $559,990
– Median sale price: $563,505
– Total homes sold: 1,457
– Share that sold above list: 56.8%
Canva
#21. Allentown, PA metro area
– Average sale-to-list ratio: 1.02
– Median list price: $335,000
– Median sale price: $327,600
– Total homes sold: 835
– Share that sold above list: 56.8%
Canva
#20. Lancaster, PA metro area
– Average sale-to-list ratio: 1.02
– Median list price: $315,000
– Median sale price: $325,500
– Total homes sold: 540
– Share that sold above list: 45.0%
Erin Cadigan // Shutterstock
#19. Richmond, VA metro area
– Average sale-to-list ratio: 1.03
– Median list price: $374,999
– Median sale price: $375,000
– Total homes sold: 1,726
– Share that sold above list: 57.2%
Sean Pavone // Shutterstock
#18. Providence, RI metro area
– Average sale-to-list ratio: 1.03
– Median list price: $450,000
– Median sale price: $450,000
– Total homes sold: 1,644
– Share that sold above list: 63.5%
Canva
#17. Reading, PA metro area
– Average sale-to-list ratio: 1.03
– Median list price: $264,900
– Median sale price: $275,000
– Total homes sold: 447
– Share that sold above list: 53.9%
Canva
#16. Grand Rapids, MI metro area
– Average sale-to-list ratio: 1.03
– Median list price: $326,900
– Median sale price: $325,000
– Total homes sold: 1,313
– Share that sold above list: 56.9%
Michael Dubenetsky // Shutterstock
#15. Norwich, CT metro area
– Average sale-to-list ratio: 1.03
– Median list price: $364,900
– Median sale price: $342,000
– Total homes sold: 331
– Share that sold above list: 64.7%
Wangkun Jia // Shutterstock
#14. Albany, NY metro area
– Average sale-to-list ratio: 1.03
– Median list price: $299,900
– Median sale price: $312,000
– Total homes sold: 842
– Share that sold above list: 62.5%
Canva
#13. New Haven, CT metro area
– Average sale-to-list ratio: 1.04
– Median list price: $349,900
– Median sale price: $340,000
– Total homes sold: 911
– Share that sold above list: 64.9%
Canva
#12. Rockingham County, NH metro area
– Average sale-to-list ratio: 1.04
– Median list price: $575,000
– Median sale price: $554,975
– Total homes sold: 585
– Share that sold above list: 62.7%
lunamarina // Shutterstock
#11. Boston, MA metro area
– Average sale-to-list ratio: 1.04
– Median list price: $722,900
– Median sale price: $730,000
– Total homes sold: 4,452
– Share that sold above list: 64.7%
Christopher Boswell // Shutterstock
#10. Trenton, NJ metro area
– Average sale-to-list ratio: 1.04
– Median list price: $389,250
– Median sale price: $400,000
– Total homes sold: 365
– Share that sold above list: 67.1%
Canva
#9. Bridgeport, CT metro area
– Average sale-to-list ratio: 1.04
– Median list price: $649,250
– Median sale price: $666,500
– Total homes sold: 1,136
– Share that sold above list: 63.6%
Uladzik Kryhin // Shutterstock
#8. San Jose, CA metro area
– Average sale-to-list ratio: 1.04
– Median list price: $1,398,000
– Median sale price: $1,510,000
– Total homes sold: 1,197
– Share that sold above list: 66.9%
Sean Pavone // Shutterstock
#7. Manchester, NH metro area
– Average sale-to-list ratio: 1.04
– Median list price: $472,400
– Median sale price: $465,000
– Total homes sold: 565
– Share that sold above list: 69.9%
Joseph Sohm // Shutterstock
#6. Portland, ME metro area
– Average sale-to-list ratio: 1.05
– Median list price: $514,000
– Median sale price: $509,250
– Total homes sold: 708
– Share that sold above list: 63.3%
MarynaG // Shutterstock
#5. Oakland, CA metro area
– Average sale-to-list ratio: 1.05
– Median list price: $882,400
– Median sale price: $950,000
– Total homes sold: 1,904
– Share that sold above list: 67.5%
Canva
#4. Syracuse, NY metro area
– Average sale-to-list ratio: 1.05
– Median list price: $219,900
– Median sale price: $218,000
– Total homes sold: 539
– Share that sold above list: 66.2%
Sean Pavone // Shutterstock
#3. Hartford, CT metro area
– Average sale-to-list ratio: 1.06
– Median list price: $339,000
– Median sale price: $332,500
– Total homes sold: 1,326
– Share that sold above list: 74.8%
Canva
#2. Buffalo, NY metro area
– Average sale-to-list ratio: 1.07
– Median list price: $239,900
– Median sale price: $249,900
– Total homes sold: 928
– Share that sold above list: 67.1%
Canva
#1. Rochester, NY metro area
– Average sale-to-list ratio: 1.14
– Median list price: $209,000
– Median sale price: $250,000
– Total homes sold: 1,068
– Share that sold above list: 77.4%
