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Metros where homes are selling for the most over asking price

The Federal Reserve’s efforts to curb inflation have pushed interest rates to levels unseen in more than two decades, and the number of home sales has been on the decline since its pandemic peak.

But homes are still selling, even if slowly. And they’re still increasing in price, even if that increase has been slowed just a bit too. In fact, some are still selling for slightly more than the list price. Because of the market change, only 22 metros have homes selling at or over asking.

Stacker analyzed data from Redfin to see which metros had the most homes sold over asking price. Data shows sales for the month of March 2023. Metros where fewer than 300 homes were sold were excluded from this list. Metro areas are ranked on the average sale-to-list ratio, which is a ratio of sale price divided by list price, for homes that sold in March 2023. Values were rounded to the nearest hundredth. Also listed are the metro area’s median listing prices for homes on the market in March, and median sale prices for those homes that sold during that month.

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#22. Montgomery County, PA

– Average sale to list ratio: 1.01
– Median list price: $439,900
– Median sale price: $421,000
– Total homes sold: 1,474

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#21. Springfield, MA

– Average sale to list ratio: 1.01
– Median list price: $309,900
– Median sale price: $285,000
– Total homes sold: 423

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#20. Boston, MA

– Average sale to list ratio: 1.01
– Median list price: $725,000
– Median sale price: $650,000
– Total homes sold: 2,613

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#19. New Haven, CT

– Average sale to list ratio: 1.01
– Median list price: $329,900
– Median sale price: $290,000
– Total homes sold: 740

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#18. Milwaukee, WI

– Average sale to list ratio: 1.01
– Median list price: $299,000
– Median sale price: $285,000
– Total homes sold: 1,148

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#17. Grand Rapids, MI

– Average sale to list ratio: 1.01
– Median list price: $309,900
– Median sale price: $305,000
– Total homes sold: 937

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#16. Bridgeport, CT

– Average sale to list ratio: 1.01
– Median list price: $645,000
– Median sale price: $510,000
– Total homes sold: 786

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#15. Rockingham County, NH

– Average sale to list ratio: 1.01
– Median list price: $539,900
– Median sale price: $505,000
– Total homes sold: 323

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#14. Camden, NJ

– Average sale to list ratio: 1.01
– Median list price: $310,000
– Median sale price: $297,500
– Total homes sold: 1,222

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#13. Buffalo, NY

– Average sale to list ratio: 1.01
– Median list price: $219,900
– Median sale price: $205,000
– Total homes sold: 576

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#12. Madison, WI

– Average sale to list ratio: 1.01
– Median list price: $389,900
– Median sale price: $375,000
– Total homes sold: 589

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#11. Richmond, VA

– Average sale to list ratio: 1.01
– Median list price: $370,450
– Median sale price: $343,900
– Total homes sold: 1,432

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#10. Worcester, MA

– Average sale to list ratio: 1.01
– Median list price: $419,900
– Median sale price: $382,500
– Total homes sold: 623

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#9. Frederick, MD

– Average sale to list ratio: 1.01
– Median list price: $564,730
– Median sale price: $494,450
– Total homes sold: 1,072

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#8. Lancaster, PA

– Average sale to list ratio: 1.01
– Median list price: $309,900
– Median sale price: $285,000
– Total homes sold: 395

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#7. Newark, NJ

– Average sale to list ratio: 1.02
– Median list price: $525,000
– Median sale price: $480,000
– Total homes sold: 1,532

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#6. Portland, ME

– Average sale to list ratio: 1.02
– Median list price: $565,000
– Median sale price: $445,000
– Total homes sold: 415

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#5. San Jose, CA

– Average sale to list ratio: 1.02
– Median list price: $1,446,500
– Median sale price: $1,390,000
– Total homes sold: 970

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#4. San Francisco, CA

– Average sale to list ratio: 1.02
– Median list price: $1,488,000
– Median sale price: $1,450,000
– Total homes sold: 776

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#3. Hartford, CT

– Average sale to list ratio: 1.02
– Median list price: $315,000
– Median sale price: $295,000
– Total homes sold: 896

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#2. Oakland, CA

– Average sale to list ratio: 1.03
– Median list price: $924,888
– Median sale price: $885,000
– Total homes sold: 1,715

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#1. Rochester, NY

– Average sale to list ratio: 1.08
– Median list price: $199,900
– Median sale price: $197,000
– Total homes sold: 619