Average Sales Price Now Above Sticker

For the first time on record the typical home has sold above its list price according to Redfin

– The median home-sale price increased 17% year over year to $328,350.

– Asking prices of newly listed homes increased 10% year over year to hit a new all-time high of $349,97.

Pending home sales were up 19% and active listing fell 41% which helps explain why the average sale-to-list price ratio increased to 99.8% and during the 7-day period ending March 7, the ratio shot up to 100.1%.   So if you are trying to win a house an offer of sticker price probably won’t cut it right now.