Per RedFin News; Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
March 12, 2021 by Tim Ellis The average sale-to-list price ratio shot up to 100.1% nationwide, marking the first time on record the typical home has sold above its list price. Key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending March 7: The median home-sale price increased 17% year over year to $328,350, an all-time high. This is the largest increase on record in this data set, which goes back through 2016. Asking prices of newly listed homes hit a new all-time high of $349,975, up 10% from the same time a year ago. Pending home sales were up 19% year over year and up 3% from the four-week period ending February 7. In the two weeks since pending sales dipped during the winter storms over the 7-day period ending February 21, the weekly number of pending sales is up 17%. New listings of homes for sale were down 17% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 41% from 20...