List Price vs Sold Price Ratios

Here are some interesting statistics brought to you by a great data crunching agent in town, Matthew Cornwall. From the way this year has started, I think we may see even more impressive numbers in 2021. Notice the end of year inventory was under 0.3 ! Folks, that’s unbelievably low! THAT’S why, so far this year, it seems impossible to win any house for less than 25k over list price. Just based on personal experience, I’m a little surprised that the 2020 data didn’t show a higher average above list price throughout the year… but notice the huge surge right at the end. Homes in Round Rock and Cedar Park were going for about 3% over list price, and that’s the AVERAGE.  I suppose though that averages also have to encapsulate anomalous homes that just have a fire sale, discover terrible things like foundation problems, have to quickly get out of dodge, were very poorly marketed, or just grossly overpriced to begin with and then paid the consequences. I guess the fact that these averages STILL show closing prices so much over list price, despite the laggards weighing them down, is a testament to just how far over list price the other homes are going. My bet is that January will show near 10% over list price. In any event, I’ll let the data do the talking…