More and more U.S. housing markets starting to tilt in sellers’ favors.
For the average home in the U.S., the gap between the listing price and closing price is narrowing with sellers able to get more than 98 percent of their home’s listing price back. Also, the median days a home is spending on the market also is falling, dropping to 44 days nationwide in 2012 — a 23 percent decline from 2011, according to a report.
“A limited inventory of homes on the market, combined with the extremely low cost of mortgage financing, has resulted in homes selling above asking price in many western markets, boosting the average listing to closing price ratio,”. Supply has dwindled to less than two months in some counties close to job centers, spurring bidding wars. Some buyers are even resorting to writing "love letters" to win over sellers in these competitive situations. Brokers also report an increasing number of buyers have little or no interest in making offers on short sales.
Here are the 10 best housing markets for sellers, based on the list-to-close price ratios:
- San Francisco (102.5)
- San Diego (101.3)
- Sacramento, Calif. (100.9)
- Las Vegas (100.7)
- Los Angeles (100)
- Orange County, Calif. (100)
- Denver (99.8)
- Tucscon, Ariz. (99.3)
- Portland (98.9)
- Seattle (98.3)
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It’s not a guess or Zestimate like Zillow. These are actual Sold, Pending and Active prices. You can also see what home inventory levels area doing, Closed Sale price vs/ Asking Price and more!
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