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One out of three Columbus homes fetched more than list price
Yet more evidence that it's a seller's market: Almost one out of three central Ohio homes sold for more than their asking price last year. The real-estate company Zillow found that 32.9 percent of Columbus-area homes sold above list price in 2017 ...
Jim Weiker The Columbus Dispatch @JimWeiker
Yet more evidence that it's a seller's market: Almost one out of three central Ohio homes sold for more than their asking price last year.
The real-estate company Zillow found that 32.9 percent of Columbus-area homes sold above list price in 2017, up from 10.1 percent in 2016.
Central Ohio buyers who paid more than list price spent a median of $5,100 above the asking price.
Nationally, 24.1 percent of homes sold above asking price, up from 17.8 percent the year before.
In San Jose and San Francisco, California, two out of three homes sold for more than their asking price last year, the highest share in the nation.
Other metropolitan areas with with at least 40 percent of homes to sell above list price include: Seattle (52.4 percent); San Antonio, Texas (42.2); Sacramento, California (41.2); Portland, Oregon (41); and Boston (40.6).
"Low interest rates and strong labor markets with high-paying jobs have allowed home buyers in some of the country's priciest housing markets to bid well over asking price," said Zillow Senior Economist Aaron Terrazas in a news release.
"In the booming tech capitals of the California Bay area and Pacific Northwest, paying above list price is now the normIn the face of historically tight inventory, buyers have had to be more aggressive in their offersWe don't expect this inventory crunch to ease meaningfully in 2018, meaning buyers will be facing many of the same struggles this year."
Miami, Florida, had the lowest percentage of homes selling above asking, with 11.8 percent.
Nationwide, homes that sold above list price sold for a median of 3.1 percent, or $7,000, above the list.
In San Jose, buyers who paid more than asking price paid a median of $62,000 more, by far the most paid over asking price.
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