Central Valley Real Estate Blog Learn more about the Central Valley Real Estate market including what's happening in Pleasanton Ca, Dublin CA, Livermore Ca and surrounding areas

real estate news

Beware, home buyers: A record number of homes are selling above their asking price

This year’s spring home-buying season is set to be one of the most competitive ever, as the pandemic continues to stoke interest in homeownership. And home prices are skyrocketing as a result.

A new report from real-estate brokerage Redfin RDFN, -0.22% found that 39% of homes sold above their listing price during the four-week period ending March 21, an all-time high. That figure is 15 percentage points higher than during the same stretch of time a year ago.


The median home-sale price was $331,590, Redfin reported, which represented a 16% increase from a year ago. Researchers noted, though, that the year-over-year comparisons may be skewed by the fact that around a year ago, states were beginning to issue stay-at-home orders as COVID-19 cases ballooned, and those orders caused a temporary halt in real-estate activity.

Nevertheless, the rise in home prices is clear. And at a time when mortgage rates are also soaring, it’s creating a much more challenging environment for first-time buyers.

More on marketwatch.com

Search For Homes In The Central Valley

Are you ready to buy a home in the Central Valley area? We can help you find the right property.

To view homes for sale in Dallas, contact me today by calling (209) 831-9747 or click here to connect with us online.