Over List in July

2021 | Bidding Wars | Frenzy | Over List

August 13, 2021



0 Comments

The percentage of buyers who were willing to pay over list reached another all-time high in July:

NSDCC Detached-Home Sales, % Closed Over List Price

January: 38%

February: 43%

March: 53%

April: 55%

May: 54%

June: 59%

July: 64%

There were 33% of the total sales that closed for $100,000+ over list price!

One out of three!

In July, it was the $1,500,000-$2,000,000 range that was red hot, with an incredible 82% paying over list:

Percentage Who Paid Over List Price by Price Range

Price Range	March	April	May	June	July
$0 – $1.0M	76%	79%	89%	88%	89%
$1.0M – $1.5M	68%	78%	84%	75%	74%
$1.5M – $2.0M	66%	66%	72%	66%	82%
$2.0M – $3.0M	54%	32%	34%	66%	56%
$3M+	16%	22%	22%	17%	26%

The average and median prices were slightly lower MoM, but the product mix is different every month. Just having the average and median sales prices being higher than the list prices is remarkable enough:

NSDCC Average and Median Prices

Month	# of Sales	Avg. LP	Avg. SP	Median LP	Median SP
Feb	224	$2,298,797	$2,257,334	$1,719,500	$1,758,000
March	252	$2,295,629	$2,260,524	$1,800,000	$1,825,000
April	357	$2,396,667	$2,403,962	$1,799,900	$1,828,000
May	300	$2,596,992	$2,581,715	$1,900,000	$1,994,500
June	348	$2,509,175	$2,537,953	$1,900,000	$1,967,500
July	311	$2,421,326	$2,442,738	$1,795,000	$1,855,000
July, 2020	351	$1,937,896	$1,863,623	$1,450,000	$1,423,350