Metros where homes are selling for the most over asking price

Homebuyers are beginning to feel relief from skyrocketing home prices spurred by the COVID-19 pandemic. For the fifth month in a row, year-over-year price growth slowed in November, but a shortage of homes on the market is keeping prices high.

The median sale price in November was $430,107, 5.4% higher than the year before, according to Redfin. Of homes that sold, 26.5% went for above its list price and the average price difference was 1.2% below asking.

Stacker analyzed data from Redfin to see where homes sold for the most over the asking price. Metros, which include the main city as well as its surrounding town and suburbs, are ranked on the average sale-to-list ratio, which is the difference between what a home was listed for and how much a buyer paid. Metros with fewer than 300 home sales are excluded from this list. Also shown are the metro area’s median listing prices for homes on the market and median sale prices for homes that sold during that month.

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#25. Richmond, Virginia

– Average price difference: 0.20% over asking
— Median list price: $387,500
— Median sale price: $399,700
– Total homes sold: 1,310
— Share that sold above list: 37.3%

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#24. Montgomery County, Pennsylvania

– Average price difference: 0.29% over asking
— Median list price: $465,000
— Median sale price: $483,450
– Total homes sold: 1,723
— Share that sold above list: 41.2%

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#23. Providence, Rhode Island

– Average price difference: 0.32% over asking
— Median list price: $475,000
— Median sale price: $495,000
– Total homes sold: 1,200
— Share that sold above list: 49.3%

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#22. Frederick, Maryland

– Average price difference: 0.38% over asking
— Median list price: $506,929
— Median sale price: $570,000
– Total homes sold: 1,008
— Share that sold above list: 41.4%

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#21. Rockingham County, New Hampshire

– Average price difference: 0.60% over asking
— Median list price: $569,900
— Median sale price: $580,000
– Total homes sold: 447
— Share that sold above list: 50.1%

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#20. New Brunswick, New Jersey

– Average price difference: 0.61% over asking
— Median list price: $524,900
— Median sale price: $550,000
– Total homes sold: 2,219
— Share that sold above list: 47.0%

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#19. Manchester, New Hampshire

– Average price difference: 0.63% over asking
— Median list price: $479,900
— Median sale price: $481,000
– Total homes sold: 401
— Share that sold above list: 50.6%

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#18. Boston

– Average price difference: 0.78% over asking
— Median list price: $699,900
— Median sale price: $710,000
– Total homes sold: 3,051
— Share that sold above list: 48.1%

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#17. Springfield, Massachusetts

– Average price difference: 0.82% over asking
— Median list price: $339,700
— Median sale price: $340,000
– Total homes sold: 505
— Share that sold above list: 49.9%

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#16. Reading, Pennsylvania

– Average price difference: 0.88% over asking
— Median list price: $269,900
— Median sale price: $278,000
– Total homes sold: 357
— Share that sold above list: 44.5%

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#15. Worcester, Massachusetts

– Average price difference: 0.98% over asking
— Median list price: $429,900
— Median sale price: $455,000
– Total homes sold: 791
— Share that sold above list: 52.0%

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#14. Albany, New York

– Average price difference: 1.06% over asking
— Median list price: $315,000
— Median sale price: $320,000
– Total homes sold: 795
— Share that sold above list: 49.2%

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#13. Camden, New Jersey

– Average price difference: 1.07% over asking
— Median list price: $350,000
— Median sale price: $355,000
– Total homes sold: 1,074
— Share that sold above list: 50.5%

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#12. Nassau County, New York

– Average price difference: 1.15% over asking
— Median list price: $699,990
— Median sale price: $695,000
– Total homes sold: 1,899
— Share that sold above list: 54.1%

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#11. New Haven, Connecticut

– Average price difference: 1.49% over asking
— Median list price: $350,000
— Median sale price: $369,000
– Total homes sold: 745
— Share that sold above list: 52.8%

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#10. Bridgeport, Connecticut

– Average price difference: 1.71% over asking
— Median list price: $570,000
— Median sale price: $630,000
– Total homes sold: 755
— Share that sold above list: 52.1%

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#9. Lancaster, Pennsylvania

– Average price difference: 2.09% over asking
— Median list price: $319,900
— Median sale price: $333,750
– Total homes sold: 421
— Share that sold above list: 43.5%

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#8. Oakland, California

– Average price difference: 2.58% over asking
— Median list price: $849,000
— Median sale price: $957,000
– Total homes sold: 1,603
— Share that sold above list: 53.6%

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#7. Syracuse, New York

– Average price difference: 2.63% over asking
— Median list price: $225,000
— Median sale price: $241,500
– Total homes sold: 517
— Share that sold above list: 59.6%

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#6. Hartford, Connecticut

– Average price difference: 3.04% over asking
— Median list price: $345,000
— Median sale price: $360,000
– Total homes sold: 1,087
— Share that sold above list: 64.5%

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#5. San Jose, California

– Average price difference: 3.54% over asking
— Median list price: $1,425,000
— Median sale price: $1,528,500
– Total homes sold: 1,059
— Share that sold above list: 58.6%

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#4. San Francisco

– Average price difference: 3.60% over asking
— Median list price: $1,300,000
— Median sale price: $1,484,000
– Total homes sold: 859
— Share that sold above list: 53.0%

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#3. Newark, New Jersey

– Average price difference: 3.79% over asking
— Median list price: $549,000
— Median sale price: $590,061
– Total homes sold: 1,524
— Share that sold above list: 64.8%

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#2. Buffalo, New York

– Average price difference: 4.06% over asking
— Median list price: $229,900
— Median sale price: $251,400
– Total homes sold: 870
— Share that sold above list: 60.8%

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#1. Rochester, New York

– Average price difference: 8.70% over asking
— Median list price: $200,000
— Median sale price: $243,000
– Total homes sold: 930
— Share that sold above list: 68.1%

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