Do Homes Sell For More Than The List Price?

DSNews.com came out with a story yesterday about the top CBSAs. The article can be viewed here.

The article stats that the typical sale to list price ratio is between 92%-98%. The top markets are now seeing homes selling above that threshold and even above list. Reno came in at #4 in the country for markets with high sale to list price ratios.

So how high is the ratio? We’ll use our more recent full months of stats, April 2013.

• Homes under $500,000 sold for 99.83% of the list price.
• Homes under $250,000 sold for 100.59% of the list price.
• Homes under $150,000 sold for 101.09% of the list price.
• Homes under $100,000 sold for 102.08% of the list price.

What this data means is buyers need to have their game faces on when putting in an offer while sellers can expect multiple offers if their home is priced right.

For more information on selling or buying a home in Reno or Sparks contact Broker Kristopher Kent at (775) 870-4280 or Kris@Reno-Realty.com