Sean Pavone // Shutterstock

Metros where homes are selling for the most under asking price

It’s a tough time to be in the market for a new house.

The average 30-year fixed rate mortgage rose above 7% at the start of November as the Federal Reserve raises its benchmark rates month after month to combat inflation. While dipping slightly since then, rates remain above 6%. Even a half of a percentage point change can have an outsized impact on the monthly payments required for a mortgage.

Since mortgage rates have been under 4% for the better part of the past decade, homebuyers have locked in rates that are far more affordable than what’s suddenly on offer in today’s environment. And sellers aren’t exactly coming down on price—home prices are still increasing, just more slowly than they did from 2020-21.

And yet there are still metro areas where homebuyers are finding homes selling for below asking price.

Stacker analyzed data from Redfin to see which metros had the most homes sold under asking price. Data shows sales for the month of December 2022. Metros where fewer than 300 homes were sold were excluded from this list, and the metros are ranked based on the average sale-to-list ratio. This is a mean ratio of the home sale price divided by the list price. Values were rounded to the nearest hundredth of a percent.

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Distrito Medico Monterrey // Flickr

#50. McAllen, TX metro area

– Average sale-to-list ratio: 0.98
– Median list price: $250,000
– Median sale price: $225,000
– Total homes sold: 317

Caleb Long // Wikimedia

#49. Tulsa, OK metro area

– Average sale-to-list ratio: 0.98
– Median list price: $258,500
– Median sale price: $235,000
– Total homes sold: 956

Bill Fitzpatrick // Wikicommons

#48. Spartanburg, SC metro area

– Average sale-to-list ratio: 0.98
– Median list price: $274,945
– Median sale price: $274,000
– Total homes sold: 405

JamesPatrick.pro // Shutterstock

#47. Davenport, IA metro area

– Average sale-to-list ratio: 0.98
– Median list price: $139,900
– Median sale price: $156,000
– Total homes sold: 356

Jeffness // Wikimedia Commons

#46. Lansing, MI metro area

– Average sale-to-list ratio: 0.98
– Median list price: $175,000
– Median sale price: $182,500
– Total homes sold: 463

M Floyd // Flickr

#45. Birmingham, AL metro area

– Average sale-to-list ratio: 0.98
– Median list price: $249,000
– Median sale price: $265,000
– Total homes sold: 902

FloNight // Wikimedia Commons

#44. Lexington, KY metro area

– Average sale-to-list ratio: 0.98
– Median list price: $295,000
– Median sale price: $285,000
– Total homes sold: 413

Alan Botting // Wikimedia Commons

#43. Dallas, TX metro area

– Average sale to list ratio: 0.97
– Median list price: $387,400
– Median sale price: $402,000
– Total homes sold: 4,324

Flintmichigan // Wikicommons

#42. Flint, MI metro area

– Average sale-to-list ratio: 0.97
– Median list price: $144,950
– Median sale price: $185,000
– Total homes sold: 370

Noel Pennington//Flickr

#41. Memphis, TN metro area

– Average sale-to-list ratio: 0.97
– Median list price: $250,000
– Median sale price: $259,450
– Total homes sold: 1,052

Jodybwiki // Wikimedia Commons

#40. Daphne, AL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $415,000
– Median sale price: $385,000
– Total homes sold: 481

Alycat // Wikimedia Commons

#39. Canton, OH metro area

– Average sale-to-list ratio: 0.97
– Median list price: $159,900
– Median sale price: $175,000
– Total homes sold: 356

Sleepydre // Wikicommons

#38. Akron, OH metro area

– Average sale-to-list ratio: 0.97
– Median list price: $170,000
– Median sale price: $174,700
– Total homes sold: 664

Canva

#37. Cleveland, OH metro area

– Average sale-to-list ratio: 0.97
– Median list price: $161,200
– Median sale price: $192,500
– Total homes sold: 2,069

Blankfaze // Wikimedia Commons

#36. Pensacola, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $337,900
– Median sale price: $318,950
– Total homes sold: 692

Luv24jmg // Wikimedia Commons

#35. Ocala, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $299,000
– Median sale price: $269,000
– Total homes sold: 638

MicheleHaro // Wikimedia

#34. Palm Bay, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $357,000
– Median sale price: $349,870
– Total homes sold: 959

Songquan Deng // Shutterstock

#33. Orlando, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $399,989
– Median sale price: $385,000
– Total homes sold: 3,010

Jacob Boomsma // Shutterstock

#32. Lafayette, LA metro area

– Average sale-to-list ratio: 0.97
– Median list price: $245,250
– Median sale price: $220,000
– Total homes sold: 327

Altairisfar // Wikicommons

#31. Mobile, AL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $199,900
– Median sale price: $199,000
– Total homes sold: 303

Alvesgaspar // Wikimedia

#30. Tampa, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $375,000
– Median sale price: $369,990
– Total homes sold: 4,215

Ebyabe // Wikicommons

#29. Crestview, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $480,000
– Median sale price: $449,098
– Total homes sold: 639

Pat McGinley // Shutterstock

#28. North Port, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $508,327
– Median sale price: $450,000
– Total homes sold: 1,547

Jacob Boomsma // Shutterstock

#27. Gary, IN metro area

– Average sale-to-list ratio: 0.97
– Median list price: $239,950
– Median sale price: $240,000
– Total homes sold: 632

Chris Pruitt // wikicommons

#26. Montgomery, AL metro area

– Average sale to list ratio: 0.97
– Median list price: $199,900
– Median sale price: $224,950
– Total homes sold: 360

skeeze // Pixabay

#25. Houston, TX metro area

– Average sale-to-list ratio: 0.97
– Median list price: $325,000
– Median sale price: $330,000
– Total homes sold: 6,426

Felix Mizioznikov // Shutterstock

#24. Port St. Lucie, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $399,995
– Median sale price: $385,000
– Total homes sold: 710

randy andy // Shutterstock

#23. Las Vegas, NV metro area

– Average sale-to-list ratio: 0.97
– Median list price: $410,000
– Median sale price: $400,000
– Total homes sold: 1,997

Michael Shake // Shutterstock

#22. Toledo, OH metro area

– Average sale-to-list ratio: 0.97
– Median list price: $139,900
– Median sale price: $153,000
– Total homes sold: 550

f11photo // Shutterstock

#21. Philadelphia, PA metro area

– Average sale-to-list ratio: 0.97
– Median list price: $234,450
– Median sale price: $259,000
– Total homes sold: 1,498

Alexbaumgarner // Wikimedia

#20. Rockford, IL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $139,950
– Median sale price: $161,000
– Total homes sold: 309

Woodlot // Wikimedia

#19. Gulfport, MS metro area

– Average sale-to-list ratio: 0.97
– Median list price: $218,500
– Median sale price: $225,000
– Total homes sold: 417

DPPed// Wikimedia

#18. Phoenix, AZ metro area

– Average sale-to-list ratio: 0.97
– Median list price: $445,475
– Median sale price: $425,000
– Total homes sold: 4,703

Sanibel Sun // WikiCommons

#17. Cape Coral, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $430,000
– Median sale price: $384,945
– Total homes sold: 1,400

Jonathan Zander // Wikicommons’

#16. Jacksonville, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $355,000
– Median sale price: $350,000
– Total homes sold: 2,066

j.s. clark // Wikimedia Commons

#15. Panama City, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $385,000
– Median sale price: $359,429
– Total homes sold: 409

Lómelinde // Wikicommons

#14. Reno, NV metro area

– Average sale-to-list ratio: 0.97
– Median list price: $509,970
– Median sale price: $499,425
– Total homes sold: 424

Yinan Chen // Wikimedia

#13. Deltona, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $354,495
– Median sale price: $339,900
– Total homes sold: 1,023

KeanoManu // Wikimedia Commons

#12. Fort Lauderdale, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $395,000
– Median sale price: $380,000
– Total homes sold: 2,057

PhotosByMahin // Pixabay

#11. Detroit, MI metro area

– Average sale-to-list ratio: 0.97
– Median list price: $127,700
– Median sale price: $163,000
– Total homes sold: 1,492

Carol Ann Mossa // Shutterstock

#10. Punta Gorda, FL metro area

– Average sale-to-list ratio: 0.97
– Median list price: $399,999
– Median sale price: $365,000
– Total homes sold: 348

Pedro Szekely // flickr

#9. New Orleans, LA metro area

– Average sale to list ratio: 0.96
– Median list price: $285,000
– Median sale price: $280,000
– Total homes sold: 914

Robert Lawton // Wikimedia

#8. Peoria, IL metro area

– Average sale-to-list ratio: 0.96
– Median list price: $120,000
– Median sale price: $126,500
– Total homes sold: 411

Kolossos // Wikimedia Commons

#7. Miami, FL metro area

– Average sale-to-list ratio: 0.96
– Median list price: $530,000
– Median sale price: $455,000
– Total homes sold: 1,879

Michlaovic // Wikimedia

#6. Jackson, MS metro area

– Average sale-to-list ratio: 0.96
– Median list price: $207,000
– Median sale price: $239,450
– Total homes sold: 394

Pixabay

#5. Austin, TX metro area

– Average sale-to-list ratio: 0.96
– Median list price: $485,000
– Median sale price: $457,990
– Total homes sold: 2,382

FloridaStock // Shutterstock

#4. Naples, FL metro area

– Average sale-to-list ratio: 0.96
– Median list price: $799,450
– Median sale price: $580,000
– Total homes sold: 687

ESB Professional // Shutterstock

#3. Pittsburgh, PA metro area

– Average sale-to-list ratio: 0.96
– Median list price: $179,000
– Median sale price: $196,750
– Total homes sold: 1,882

D Ramey Logan // Wikimedia Commons

#2. West Palm Beach, FL metro area

– Average sale-to-list ratio: 0.96
– Median list price: $465,000
– Median sale price: $415,000
– Total homes sold: 1,907

Jack Pearce // Wikimedia Commons

#1. Youngstown, OH metro area

– Average sale-to-list ratio: 0.96
– Median list price: $127,000
– Median sale price: $135,000
– Total homes sold: 459