Homes in Seattle are selling for 5.3% over asking – third highest premium in the US
The home market continues to be hot throughout the nation according to a report released by Redfin. The report, which can be found here, analyzed 47 metro areas and found that the average home in the United States sold for 100% of list price during the four week period ending in March 14th – a record high. Homes during the same period last year sold for 1.8% below list price.
Austin metro area tops the list of the hottest markets in this report, with an average home selling for 7.1% above its asking price during the time period referenced above an 8% increase from a year ago. Accordingly, a home listed in that metro area at $400,000 was selling for roughly $428,000. Austin continues to have one of the hottest markets in the nation, with homes selling for roughly 23% more in February of 2021 than the year before.
San Jose metro follows Austin on the list and Seattle comes in at third place, ahead of San Francisco. According to the report, the average home in the Emerald City sold for 5.3% over asking during the four week period ending March 14th. Seattle is also in the top three when it comes to the year over year increase in premiums. Average Seattle homes were selling for only 1.2% over asking during the same period a year ago – and impressive 4.1 percentage gain year-over-year. You can find the report in its entirety here.Email