According to my spreadsheet, I visited, with clients, 72 homes for sale in April. I might have missed recording one or two, likely open houses. Life for a busy Realtor between Easter and May Two-Four is on-the-fly, breakneck and fluid. This is the peak of the season, where the top curve crests and we fly down into the rest of the year. We are laced up and running full on. It is what we trained for. It is what we rested up for during the short winter slumber.
I worked with nine clients in April. 45% of the offers I wrote up were successful. Those are pretty good odds. I think this spreadsheet thing is working. I show my clients what they have seen and what they sold for when we draft up offers. Show them their specific list price to sale price ratios, review the houses, the photos, comparing them against the target house. It doesn’t always work. There are always outliers, lots of rule breakers. But with the market moving so fast, doing it this way is better than looking at recent and historic comparables only.
Averages and other April statistics
The average listing price among the houses I showed in April was $467,480. The cheapest was $249,000 and the most expensive was $799,000. The $249k sold for $300k and the $799k sold for $977k. That is a little more than 21% and 22% over asking price respectively. The spreadsheet shows that the price category does not tend to matter when it comes to the list price over sale price ratios.
The average sale price of houses I showed in April was $524,200. That means, of houses that I showed, the average list price to sale price was 112.93% – sale price of houses that my clients saw averaged 13% over list price. One house I showed and actually put an offer in on went more than 47% over list price. Another house went more that 40% over list price and four more went more than 30% over list price. But on the other end, 11 houses sold within 7% of list price. One place actually sold below list price!
But only one.