Housing Market Gets More Competitive as Homes Sell Above Asking Price: Redfin
Category: National
Mar
26
Originally published on March 18, 2021, by Erin Osgood for Redfin Press Center.
36% of Homes Sold Above List Price in February, the Highest Share on Record
Historic competition for homes pushed sale prices up 14% as new listings fell 16%
SEATTLE, March 18, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — The national median home-sale price rose 14.4% year over year to $336,200 in February, the largest increase seen since July 2013, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. Closed home sales were up 5% from a year earlier and pending sales were up 21%. New listings fell 16%—the second-largest decline on record since Redfin's data began in 2012, only passed by the drop in April 2020.
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