Are Sellers Negotiating Less On Price?

This graph above shows the median list price to sales price ratio (red line) over the past 15 years as compared to the overall pace of home sales.

At the peak of the housing boom (2004-2006) sellers were able to obtain a median of 99% of their asking price --- up from a median of 97.7% in 2001 before the pace of home sales started escalating.

Then, when the pace of home sales slowed (through 2010) this metric dropped to 96%, where it stayed for three years.

Sellers started selling for slightly more in 2013-2015 when they could obtain 97% of their list price.

This increased to 98% in 2016, held steady in 2017, and is flirting with 99% in 2018.

Of note -- the 99% figure in 2018 is based on only one month of data - January 2018.  Stay tuned to see how this adjusts as we continue through 2018.