The number of homes selling for more than $500K above asking more than tripled in Q2 2021
The number of homes selling for well above list price has increased rapidly during the first half of 2021.

By Chris Erickson
Tampa Bay Business Journal
Published: Aug 19, 2021

The number of homes selling for well above list price has increased rapidly during the first half of 2021.

Data from Zillow shows 1,670 homes sold for at least $500,000 above asking price nationally in the second quarter of 2021, more than three times the number sold in the first quarter.

Additionally, the number of homes that sold for $1 million above asking more than doubled from the first quarter to the second quarter this year. The percentage that sold for 30% or more above asking increased from 0.9% to 1.4% in the second quarter.

While the Tampa Bay area did not see any homes sell for $1 million above list price, eight sold for more than $500,000 over asking in the second quarter, compared to six in the first quarter and zero in the second quarter of 2019. Locally, 1.3% of homes sold for at least 30% above the list price in Q2 2021, compared to 0.7% in Q1 2021.

While the percentage selling 30% over list price increased locally, it remained well below the top three markets, San Francisco (7.4%), Buffalo, New York (6.2%) and Austin, Texas (5.3%). The top five markets for the number of homes that sold at more than $500,000 above listing were San Francisco (657), San Jose, California (283), Los Angeles (99), Seattle (88) and Miami (74).