Skip to Content

Metros where homes are selling for the most under asking price


Canva

Metros where homes are selling for the most under asking price

A for sale sign with a sold sticker in front of a suburban home.

It’s a tough time to be in the market for a new house. But as peak homebuying season begins, homebuyers are starting to have at least some negotiating power—especially in markets with significant price growth over the last few years.

The average 30-year fixed rate mortgage rose above 7% at the start of November 2022, the highest level in more than a decade, as the Federal Reserve raised its benchmark rates to combat inflation. Rates have started to dip, but remain at historic highs. Even a half of a percentage point change can significantly affect the monthly payments required for a mortgage.

Since mortgage rates were under 4% for the better part of the past decade, many homebuyers locked in far more affordable rates than what’s on offer in today’s environment. And sellers aren’t exactly coming down on price—nationally, home prices are still increasing, just more slowly than they did during the height of the pandemic.

The median sale price in February was $412,778, 6.6% higher than the year before. Of homes that sold, 26.1% went for above its list price, while the average price difference was 1.26% under asking.

Stacker analyzed data from Redfin to see where homes are selling for the most below the asking price. Metros, which include the main city as well as its surrounding town and suburbs, are ranked by the average sale-to-list ratio, which is the difference between what a home is listed for and how much a buyer pays. Metros with fewer than 300 home sales are excluded from this list. Also shown are the metro area’s median listing prices for homes on the market and median sale prices for homes that sold during that month.



Showcase Imaging // Shutterstock

#50. Akron, Ohio

– Average price difference: 2.13% below list
— Median list price: $199,990
— Median sale price: $180,000
– Total homes sold: 523
— Share that sold above list: 31.5%



Grindstone Media Group // Shutterstock

#49. Des Moines, Iowa

– Average price difference: 2.14% below list
— Median list price: $319,450
— Median sale price: $265,000
– Total homes sold: 576
— Share that sold above list: 19.8%



Valiik30 // Shutterstock

#48. Tulsa, Oklahoma

– Average price difference: 2.16% below list
— Median list price: $265,000
— Median sale price: $252,500
– Total homes sold: 768
— Share that sold above list: 22.8%



Vladimir Mucibabic // Shutterstock

#47. Detroit

– Average price difference: 2.17% below list
— Median list price: $169,800
— Median sale price: $165,000
– Total homes sold: 1,244
— Share that sold above list: 32.2%



Canva

#46. Dallas

– Average price difference: 2.20% below list
— Median list price: $439,900
— Median sale price: $415,000
– Total homes sold: 4,354
— Share that sold above list: 17.6%



Canva

#45. Wilmington, North Carolina

– Average price difference: 2.25% below list
— Median list price: $469,000
— Median sale price: $425,000
– Total homes sold: 409
— Share that sold above list: 14.9%



Colin D. Young // Shutterstock

#44. Pensacola, Florida

– Average price difference: 2.29% below list
— Median list price: $338,400
— Median sale price: $319,165
– Total homes sold: 641
— Share that sold above list: 14.2%



Eduardo Medrano // Shutterstock

#43. Little Rock, Arkansas

– Average price difference: 2.35% below list
— Median list price: $241,250
— Median sale price: $217,000
– Total homes sold: 685
— Share that sold above list: 19.3%



Sean Pavone // Shutterstock

#42. Birmingham, Alabama

– Average price difference: 2.36% below list
— Median list price: $279,900
— Median sale price: $271,600
– Total homes sold: 953
— Share that sold above list: 21.5%



Canva

#41. Peoria, Illinois

– Average price difference: 2.36% below list
— Median list price: $139,900
— Median sale price: $96,000
– Total homes sold: 356
— Share that sold above list: 20.2%



Philip Lange // Shutterstock

#40. Baton Rouge, Louisiana

– Average price difference: 2.38% below list
— Median list price: $279,250
— Median sale price: $260,000
– Total homes sold: 620
— Share that sold above list: 13.7%



Songquan Deng // Shutterstock

#39. Orlando, Florida

– Average price difference: 2.38% below list
— Median list price: $425,000
— Median sale price: $399,194
– Total homes sold: 3,036
— Share that sold above list: 12.2%



Rob Hainer // Shutterstock

#38. Lakeland, Florida

– Average price difference: 2.42% below list
— Median list price: $335,387
— Median sale price: $319,995
– Total homes sold: 1,164
— Share that sold above list: 15.2%



KYPhua // Shutterstock

#37. Indianapolis

– Average price difference: 2.43% below list
— Median list price: $300,000
— Median sale price: $281,750
– Total homes sold: 1,991
— Share that sold above list: 16.5%



H.J. Herrera // Shutterstock

#36. Ocala, Florida

– Average price difference: 2.55% below list
— Median list price: $296,950
— Median sale price: $275,000
– Total homes sold: 764
— Share that sold above list: 11.5%



Canva

#35. Austin, Texas

– Average price difference: 2.58% below list
— Median list price: $498,000
— Median sale price: $442,577
– Total homes sold: 2,161
— Share that sold above list: 12.4%



Canva

#34. Gary, Indiana

– Average price difference: 2.58% below list
— Median list price: $274,900
— Median sale price: $250,000
– Total homes sold: 552
— Share that sold above list: 17.9%



Michael Shake // Shutterstock

#33. Toledo, Ohio

– Average price difference: 2.61% below list
— Median list price: $189,900
— Median sale price: $167,500
– Total homes sold: 474
— Share that sold above list: 31.0%



Canva

#32. Asheville, North Carolina

– Average price difference: 2.64% below list
— Median list price: $449,995
— Median sale price: $412,500
– Total homes sold: 445
— Share that sold above list: 18.4%



StacieStauffSmith Photos // Shutterstock

#31. Myrtle Beach, South Carolina

– Average price difference: 2.65% below list
— Median list price: $349,900
— Median sale price: $336,795
– Total homes sold: 1,343
— Share that sold above list: 7.2%



AevanStock // Shutterstock

#30. Tampa, Florida

– Average price difference: 2.78% below list
— Median list price: $394,945
— Median sale price: $371,200
– Total homes sold: 4,375
— Share that sold above list: 11.5%



Andrew J Simcox // Shutterstock

#29. Philadelphia

– Average price difference: 2.80% below list
— Median list price: $279,000
— Median sale price: $255,000
– Total homes sold: 1,227
— Share that sold above list: 23.2%



Thomas Kelley // Shutterstock

#28. Palm Bay, Florida

– Average price difference: 2.84% below list
— Median list price: $379,000
— Median sale price: $353,000
– Total homes sold: 871
— Share that sold above list: 10.1%



f11photo // Shutterstock

#27. Louisville, Kentucky

– Average price difference: 2.86% below list
— Median list price: $265,000
— Median sale price: $252,250
– Total homes sold: 1,111
— Share that sold above list: 18.0%



Canva

#26. Lake Havasu City, Arizona

– Average price difference: 2.92% below list
— Median list price: $397,250
— Median sale price: $355,000
– Total homes sold: 307
— Share that sold above list: 10.4%



Canva

#25. Crestview, Florida

– Average price difference: 2.93% below list
— Median list price: $549,000
— Median sale price: $430,000
– Total homes sold: 590
— Share that sold above list: 11.0%



ESB Professional // Shutterstock

#24. Jacksonville, Florida

– Average price difference: 2.95% below list
— Median list price: $399,900
— Median sale price: $372,890
– Total homes sold: 1,943
— Share that sold above list: 11.1%



Sean Pavone // Shutterstock

#23. San Antonio

– Average price difference: 3.03% below list
— Median list price: $326,787
— Median sale price: $295,000
– Total homes sold: 2,360
— Share that sold above list: 12.4%



Canva

#22. Daphne, Alabama

– Average price difference: 3.06% below list
— Median list price: $415,000
— Median sale price: $385,210
– Total homes sold: 401
— Share that sold above list: 6.7%



MyArt4U // Shutterstock

#21. Deltona, Florida

– Average price difference: 3.07% below list
— Median list price: $382,990
— Median sale price: $345,000
– Total homes sold: 1,025
— Share that sold above list: 10.5%



Canva

#20. Mobile, Alabama

– Average price difference: 3.08% below list
— Median list price: $235,124
— Median sale price: $210,000
– Total homes sold: 326
— Share that sold above list: 25.5%



Canva

#19. Memphis, Tennessee

– Average price difference: 3.16% below list
— Median list price: $285,900
— Median sale price: $274,995
– Total homes sold: 1,007
— Share that sold above list: 15.5%



Felix Mizioznikov // Shutterstock

#18. Port St. Lucie, Florida

– Average price difference: 3.21% below list
— Median list price: $429,900
— Median sale price: $400,000
– Total homes sold: 760
— Share that sold above list: 9.5%



Canva

#17. Houston

– Average price difference: 3.24% below list
— Median list price: $350,000
— Median sale price: $330,000
– Total homes sold: 6,211
— Share that sold above list: 12.3%



Canva

#16. McAllen, Texas

– Average price difference: 3.31% below list
— Median list price: $270,000
— Median sale price: $243,000
– Total homes sold: 305
— Share that sold above list: 16.7%



Sean Pavone // Shutterstock

#15. Gulfport, Mississippi

– Average price difference: 3.33% below list
— Median list price: $259,900
— Median sale price: $253,500
– Total homes sold: 366
— Share that sold above list: 10.4%



Khairil Azhar Junos // Shutterstock

#14. Punta Gorda, Florida

– Average price difference: 3.39% below list
— Median list price: $375,000
— Median sale price: $354,900
– Total homes sold: 524
— Share that sold above list: 8.4%



Pat McGinley // Shutterstock

#13. North Port, Florida

– Average price difference: 3.41% below list
— Median list price: $484,900
— Median sale price: $449,000
– Total homes sold: 1,681
— Share that sold above list: 6.6%



ESB Professional // Shutterstock

#12. Pittsburgh

– Average price difference: 3.58% below list
— Median list price: $229,000
— Median sale price: $210,500
– Total homes sold: 1,355
— Share that sold above list: 20.6%



Canva

#11. Cape Coral, Florida

– Average price difference: 3.68% below list
— Median list price: $440,000
— Median sale price: $403,000
– Total homes sold: 1,481
— Share that sold above list: 8.3%



Sean Pavone // Shutterstock

#10. Jackson, Mississippi

– Average price difference: 3.84% below list
— Median list price: $259,000
— Median sale price: $252,000
– Total homes sold: 402
— Share that sold above list: 11.9%



Canva

#9. Scranton, Pennsylvania

– Average price difference: 3.84% below list
— Median list price: $205,000
— Median sale price: $185,200
– Total homes sold: 348
— Share that sold above list: 23.6%



Sean Pavone // Shutterstock

#8. Miami

– Average price difference: 3.91% below list
— Median list price: $586,450
— Median sale price: $526,320
– Total homes sold: 1,788
— Share that sold above list: 12.5%



mariakray // Shutterstock

#7. Fort Lauderdale, Florida

– Average price difference: 3.99% below list
— Median list price: $434,999
— Median sale price: $440,000
– Total homes sold: 1,887
— Share that sold above list: 11.1%



Canva

#6. Youngstown, Ohio

– Average price difference: 4.20% below list
— Median list price: $154,900
— Median sale price: $149,000
– Total homes sold: 356
— Share that sold above list: 24.7%



Canva

#5. Panama City, Florida

– Average price difference: 4.27% below list
— Median list price: $400,000
— Median sale price: $366,500
– Total homes sold: 342
— Share that sold above list: 6.7%



Andriy Blokhin // Shutterstock

#4. Naples, Florida

– Average price difference: 4.29% below list
— Median list price: $779,000
— Median sale price: $675,000
– Total homes sold: 711
— Share that sold above list: 4.9%



TFoxFoto // Shutterstock

#3. New Orleans

– Average price difference: 4.30% below list
— Median list price: $315,000
— Median sale price: $288,820
– Total homes sold: 683
— Share that sold above list: 11.1%



Canva

#2. West Palm Beach, Florida

– Average price difference: 4.66% below list
— Median list price: $515,000
— Median sale price: $500,000
– Total homes sold: 1,781
— Share that sold above list: 8.7%



Canva

#1. Springfield, Missouri

– Average price difference: 8.72% below list
— Median list price: $279,900
— Median sale price: $250,000
– Total homes sold: 435
— Share that sold above list: 0.5%


Article Topic Follows: Money - Stacker

Jump to comments ↓

Stacker

BE PART OF THE CONVERSATION

KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content