{"id":379604,"date":"2020-11-12T08:03:48","date_gmt":"2020-11-12T13:03:48","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379604"},"modified":"2020-11-12T08:03:48","modified_gmt":"2020-11-12T13:03:48","slug":"strong-buyer-competition-is-pushing-homes-to-sell-above-list-price","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\/","title":{"rendered":"Strong Buyer Competition is Pushing Homes to Sell Above List Price"},"content":{"rendered":"
\n

Sellers are being rewarded amid strong demand for homes as buyers are striking quickly with competitive offers when they find a home they like<\/h2>\n

– More than one in five homes sold above their list price in September (22.4%), more than in any month since at least January 2018 in another byproduct of incredibly strong buyer demand. That share has grown each month so far this year, pushing well past the typical high point as the market continues to defy seasonal norms.<\/h2>\n

– Homes priced near the typical U.S. home value appear to be the most sought after, with 28.2% of homes in that price quintile selling above list in September.<\/h2>\n

– Compared to last year, the share of homes that sold above list in September doubled in Phoenix, San Diego, Denver, Virginia Beach and Riverside.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SEATTLE<\/span>, Nov. 12, 2020<\/span> \/PRNewswire\/ — In more evidence that persistent buyer demand is pushing a strong housing market deeper into the year than usual, a new Zillow\u00ae analysis<\/a><\/u>\u00a0finds the share of homes sold above list continues to rise, blowing past the typical mid-summer peak. That is great news for prospective sellers who want to maximize their return from a potential home sale.\u00a0<\/p>\n

In September, 22.4% of homes purchased in the U.S. were sold for more than their initial list price, up from 20.2% in August and well above the roughly 15% of homes that did so during September 2018<\/span> and 2019. It is highly unusual for the share of homes sold above list to continue rising this late in the year. In both 2018 and 2019, the share peaked in July during the height of the typical home shopping season before steadily declining as the market cooled in the fall and winter months. This year, the share has increased each month.<\/p>\n

\n
\n Buyer demand has been intense and persistent<\/a>
\n <\/u>\u00a0since the market picked up speed in April after a dramatic slowdown in the early days of the coronavirus pandemic. Potential buyers may be feeling urgency to lock in low mortgage rates<\/a><\/u>\u00a0now, especially if they sense prices will slip further from reach in coming years. Many others may be taking advantage of new freedom to telecommute<\/a><\/u>\u00a0from an area where they can more easily afford a home.\u00a0<\/p>\n

Whatever the reason, strong demand is helping to keep a lid on inventory as homes are being snatched up faster than sellers are listing them. Inventory has continued to fall compared to last year — down 37.4% year over year at the end of October — even as new listings have returned near last year’s level, an indication of heavy sales volume. Homes were typically selling after only 12 days, a full 17 days faster than the same time last year[i]. Those market dynamics are likely pushing buyers to make offers above list price as they expect quick sales and competition from other buyers while choices are limited.\u00a0<\/p>\n

“The housing market is taking us all back to Economics 101 and teaching lessons about supply and demand,” said Zillow senior economist Chris Glynn<\/span>. “A persistent interest in buying and moving is creating an imbalance that is driving prices higher than we typically see at this time of year. In many cases, buyers in this market should be realistic about the chance of bidding wars and leave themselves financial flexibility by looking at homes listed for less than their maximum price point.\u00a0 With tight inventory, low interest rates, and robust demand from households re-evaluating their housing needs, a strong, competitive market with many transactions is likely here to stay into 2021.”\u00a0<\/p>\n

Bidding wars have been most common for homes priced just above and below the typical U.S. home value of $259,906<\/span>. Homes priced in the second quintile of all U.S. home listings — between $192,001<\/span> and $264,000<\/span> — sold above list in 28.2% of September sales. Homes in this price range are also selling incredibly quickly — a recent Zillow analysis of time on market<\/a><\/u>\u00a0found similarly priced homes typically sold faster than any other price tier in September.\u00a0<\/p>\n

Homes priced in the most-expensive tier — above $487,000<\/span> — sold above list 15.7% of the time, the lowest of the five price bands tracked in Zillow’s study. Still, this is the highest share sold above list in this price range in any month since at least January 2018<\/span>, the earliest month included in the analysis.<\/p>\n

Perhaps unsurprisingly, homes that sold in the shortest amount of time<\/a><\/u>\u00a0— indicative of more-intense competition for these properties — were more likely to sell above list. Of homes that have sold in 10 days or less since 2018, 28.5% sold above list. The longer homes stayed on the market, the less likely they were to sell above list. Even still, about 10.4% of homes during that time that stayed on the market for 60 days or longer before selling went for higher than their list price.\u00a0<\/p>\n

The share of homes sold above list is up from last month and higher than a year ago in each of the 50 largest U.S. metros, and has more than doubled in five of the top 50: Phoenix<\/span>, San Diego<\/span>, Denver<\/span>, Virginia Beach and Riverside.\u00a0<\/p>\n

In today’s competitive housing market, rushing into a home that’s not the best fit and paying more than they can afford are two of the biggest risks that buyers face. Zillow experts recommend<\/a><\/u>\u00a0making a list of top criteria and trade-offs they’re willing to make, using virtual or 3D Home tours to narrow down your options more quickly than waiting for a showing, and shopping for homes below a buyer’s maximum price point to leave flexibility in case of a bidding war. A trusted local agent can help discuss trade-offs that may be necessary in a given market and help buyers understand what makes a winning offer in their area.\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Metropolitan Area<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold Above
List: All
Homes
(Sept. 2020)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold Above
List:
Bottom
Fifth<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold Above
List: Lower-
Middle Fifth<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold
Above List:
Middle
Fifth<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold Above
List: Upper-
Middle Fifth<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Sold
Above
List: Top
Fifth<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n United States<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New York, NY<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Los Angeles, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Chicago, IL<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Dallas-Fort Worth, TX<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Philadelphia, PA<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Houston, TX<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Washington, DC<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Miami-Fort Lauderdale, FL<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 5.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 4.0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Atlanta, GA<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Boston, MA<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 47.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 45.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 39.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.1%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n San Francisco, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 48.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 45.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 51.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 51.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 53.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Detroit, MI<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 34.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Riverside, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Phoenix, AZ<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 26.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Seattle, WA<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 49.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 52.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 39.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Minneapolis-St. Paul, MN<\/span>\n <\/p>\n<\/td>\n

\n

\n 41.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 53.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 50.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n San Diego, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 34.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.1%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n St. Louis, MO<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 34.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Tampa, FL<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Baltimore, MD<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Denver, CO<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.1%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Pittsburgh, PA<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Portland, OR<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 46.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Charlotte, NC<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Sacramento, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 45.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n San Antonio, TX<\/span>\n <\/p>\n<\/td>\n

\n

\n 17.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 17.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Orlando, FL<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cincinnati, OH<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cleveland, OH<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Kansas City, MO<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 50.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 48.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Las Vegas, NV<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Columbus, OH<\/span>\n <\/p>\n<\/td>\n

\n

\n 41.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 52.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 49.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Indianapolis, IN<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 42.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n San Jose, CA<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 46.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 52.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 45.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Austin, TX<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Virginia Beach, VA<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Nashville, TN<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.3%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Providence, RI<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 34.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Milwaukee, WI<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 51.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 55.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 47.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 36.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Jacksonville, FL<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 10.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 7.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Memphis, TN<\/span>\n <\/p>\n<\/td>\n

\n

\n 34.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 44.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 48.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 22.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Oklahoma City, OK<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 26.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 17.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 16.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 8.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Louisville, KY<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 21.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.6%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Hartford, CT<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 28.1%<\/span>\n <\/p>\n<\/td>\n

\n

\n 20.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Richmond, VA<\/span>\n <\/p>\n<\/td>\n

\n

\n 31.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 33.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 40.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n New Orleans, LA<\/span>\n <\/p>\n<\/td>\n

\n

\n 14.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 15.2%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 13.5%<\/span>\n <\/p>\n<\/td>\n

\n

\n 5.0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Buffalo, NY<\/span>\n <\/p>\n<\/td>\n

\n

\n 46.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 60.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 57.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 50.3%<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.9%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Raleigh, NC<\/span>\n <\/p>\n<\/td>\n

\n

\n 27.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 38.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 29.9%<\/span>\n <\/p>\n<\/td>\n

\n

\n 26.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Birmingham, AL<\/span>\n <\/p>\n<\/td>\n

\n

\n 25.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 32.7%<\/span>\n <\/p>\n<\/td>\n

\n

\n 26.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 24.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 19.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Salt Lake City, UT<\/span>\n <\/p>\n<\/td>\n

\n

\n 37.8%<\/span>\n <\/p>\n<\/td>\n

\n

\n 41.6%<\/span>\n <\/p>\n<\/td>\n

\n

\n 43.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 46.0%<\/span>\n <\/p>\n<\/td>\n

\n

\n 35.4%<\/span>\n <\/p>\n<\/td>\n

\n

\n 23.2%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n *Table ordered by market size<\/i>\u00a0<\/p>\n

\n About<\/b>
\n \u00a0Zillow Group<\/b>\n <\/p>\n

Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life’s next chapter.\u00a0<\/p>\n

As the most-visited real estate website in the U.S., Zillow\u00ae and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers\u00ae buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans\u2122, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. Zillow recently launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions.\u00a0<\/p>\n

Zillow Group’s affiliates and subsidiaries include Zillow\u00ae, Zillow Offers\u00ae, Zillow Premier Agent\u00ae, Zillow Home Loans\u2122, Zillow Closing Services\u2122, Zillow Homes, Inc., Trulia\u00ae, Out East\u00ae, StreetEasy\u00ae and HotPads\u00ae. Zillow Home Loans, LLC is an Equal Housing\u00a0Lender, NMLS #10287 (www.nmlsconsumeraccess.org<\/a><\/u>).\u00a0<\/p>\n

[i] Zillow Weekly Market Report, Nov. 5, 2020<\/span>: https:\/\/www.zillow.com\/research\/zillow-weekly-market-report-27151\/<\/a><\/p>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price-301171797.html<\/a><\/p>\n

SOURCE Zillow<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Sellers are being rewarded amid strong demand for homes as buyers are striking quickly with competitive offers when they find a home they like – More than one in five homes sold above their list price in September (22.4%), more than in any month since at least January 2018 in another byproduct of incredibly strong buyer demand. That share has grown each month so far this year, pushing well past the typical high point as the market continues to defy seasonal norms. – Homes priced near the typical U.S. home value appear to be the most sought after, with 28.2% of homes in that price quintile selling above list in September. – Compared to last year, the share of homes … <\/p>\n

Continue reading “Strong Buyer Competition is Pushing Homes to Sell Above List Price”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379604","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nStrong Buyer Competition is Pushing Homes to Sell Above List Price - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strong Buyer Competition is Pushing Homes to Sell Above List Price - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sellers are being rewarded amid strong demand for homes as buyers are striking quickly with competitive offers when they find a home they like – More than one in five homes sold above their list price in September (22.4%), more than in any month since at least January 2018 in another byproduct of incredibly strong buyer demand. That share has grown each month so far this year, pushing well past the typical high point as the market continues to defy seasonal norms. – Homes priced near the typical U.S. home value appear to be the most sought after, with 28.2% of homes in that price quintile selling above list in September. – Compared to last year, the share of homes … Continue reading "Strong Buyer Competition is Pushing Homes to Sell Above List Price"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T13:03:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF89333&sd=2020-11-12\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Strong Buyer Competition is Pushing Homes to Sell Above List Price\",\"datePublished\":\"2020-11-12T13:03:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/\"},\"wordCount\":1292,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=SF89333&sd=2020-11-12\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/strong-buyer-competition-is-pushing-homes-to-sell-above-list-price\\\/\",\"name\":\"Strong Buyer Competition is Pushing Homes to Sell Above List Price - 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