Metros Where Homes Are Selling for the Most Under Asking Price

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Metros where homes are selling for the most under asking price

As peak homebuying season begins, potential buyers are feeling apprehensive about making such a large purchase. Pending home sales dropped by 6% compared to the same time a year ago, according to Redfin. Still, home prices rose about 3% from the year before, reaching $425,421, but this marked the slowest growth since August.

The median sale price in February was 3.2% higher than the year before. Of the homes that sold, 24.6% went for above their list price, and the average price difference was 1.5% below 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 paid. 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.

#50. Indianapolis

- Average price difference: 2.32% below list
-- Median list price: $300,000
-- Median sale price: $297,002
- Total homes sold: 1,928
-- Share that sold above list: 14.4%

#49. Birmingham, Alabama

- Average price difference: 2.32% below list
-- Median list price: $292,750
-- Median sale price: $290,000
- Total homes sold: 887
-- Share that sold above list: 18.6%

#48. Philadelphia

- Average price difference: 2.35% below list
-- Median list price: $295,000
-- Median sale price: $275,000
- Total homes sold: 1,163
-- Share that sold above list: 24.9%

#47. Tulsa, Oklahoma

- Average price difference: 2.35% below list
-- Median list price: $295,000
-- Median sale price: $260,000
- Total homes sold: 837
-- Share that sold above list: 21.7%

#46. Des Moines, Iowa

- Average price difference: 2.36% below list
-- Median list price: $300,000
-- Median sale price: $285,000
- Total homes sold: 599
-- Share that sold above list: 16.0%

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#45. Hickory, North Carolina

- Average price difference: 2.40% below list
-- Median list price: $337,000
-- Median sale price: $290,000
- Total homes sold: 311
-- Share that sold above list: 15.8%

#44. Lake Havasu City, Arizona

- Average price difference: 2.40% below list
-- Median list price: $395,000
-- Median sale price: $360,000
- Total homes sold: 307
-- Share that sold above list: 11.1%

#43. Knoxville, Tennessee

- Average price difference: 2.45% below list
-- Median list price: $409,170
-- Median sale price: $390,000
- Total homes sold: 755
-- Share that sold above list: 19.7%

#42. Baton Rouge, Louisiana

- Average price difference: 2.48% below list
-- Median list price: $275,842
-- Median sale price: $260,480
- Total homes sold: 585
-- Share that sold above list: 14.9%

#41. Dallas

- Average price difference: 2.49% below list
-- Median list price: $439,900
-- Median sale price: $417,000
- Total homes sold: 4,196
-- Share that sold above list: 13.4%

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#40. Greensboro, North Carolina

- Average price difference: 2.50% below list
-- Median list price: $300,000
-- Median sale price: $293,500
- Total homes sold: 516
-- Share that sold above list: 21.5%

#39. Lakeland, Florida

- Average price difference: 2.58% below list
-- Median list price: $326,990
-- Median sale price: $315,000
- Total homes sold: 1,010
-- Share that sold above list: 12.6%

#38. Daphne, Alabama

- Average price difference: 2.69% below list
-- Median list price: $465,851
-- Median sale price: $379,550
- Total homes sold: 374
-- Share that sold above list: 10.2%

#37. San Antonio

- Average price difference: 2.71% below list
-- Median list price: $326,788
-- Median sale price: $290,000
- Total homes sold: 2,166
-- Share that sold above list: 10.6%

#36. Austin, Texas

- Average price difference: 2.75% below list
-- Median list price: $515,000
-- Median sale price: $429,999
- Total homes sold: 1,854
-- Share that sold above list: 12.4%

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#35. Hilton Head Island, South Carolina

- Average price difference: 2.86% below list
-- Median list price: $599,000
-- Median sale price: $580,000
- Total homes sold: 416
-- Share that sold above list: 7.9%

#34. Orlando, Florida

- Average price difference: 2.90% below list
-- Median list price: $409,000
-- Median sale price: $400,000
- Total homes sold: 2,692
-- Share that sold above list: 11.1%

#33. Scranton, Pennsylvania

- Average price difference: 2.93% below list
-- Median list price: $215,000
-- Median sale price: $195,400
- Total homes sold: 312
-- Share that sold above list: 30.1%

#32. Palm Bay, Florida

- Average price difference: 2.97% below list
-- Median list price: $378,000
-- Median sale price: $365,000
- Total homes sold: 854
-- Share that sold above list: 9.3%

#31. Little Rock, Arkansas

- Average price difference: 3.01% below list
-- Median list price: $249,900
-- Median sale price: $228,000
- Total homes sold: 624
-- Share that sold above list: 13.3%

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#30. Jacksonville, Florida

- Average price difference: 3.01% below list
-- Median list price: $399,900
-- Median sale price: $368,995
- Total homes sold: 1,696
-- Share that sold above list: 11.6%

#29. Ocala, Florida

- Average price difference: 3.02% below list
-- Median list price: $299,900
-- Median sale price: $274,999
- Total homes sold: 667
-- Share that sold above list: 13.2%

#28. Lafayette, Louisiana

- Average price difference: 3.05% below list
-- Median list price: $247,500
-- Median sale price: $232,000
- Total homes sold: 304
-- Share that sold above list: 9.5%

#27. Detroit

- Average price difference: 3.05% below list
-- Median list price: $175,000
-- Median sale price: $180,000
- Total homes sold: 1,140
-- Share that sold above list: 29.3%

#26. Myrtle Beach, South Carolina

- Average price difference: 3.09% below list
-- Median list price: $363,740
-- Median sale price: $328,900
- Total homes sold: 1,287
-- Share that sold above list: 7.5%

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#25. Gulfport, Mississippi

- Average price difference: 3.13% below list
-- Median list price: $265,000
-- Median sale price: $239,500
- Total homes sold: 382
-- Share that sold above list: 12.3%

#24. Gary, Indiana

- Average price difference: 3.13% below list
-- Median list price: $288,970
-- Median sale price: $272,000
- Total homes sold: 551
-- Share that sold above list: 14.3%

#23. Crestview, Florida

- Average price difference: 3.14% below list
-- Median list price: $550,000
-- Median sale price: $429,750
- Total homes sold: 510
-- Share that sold above list: 8.0%

#22. Asheville, North Carolina

- Average price difference: 3.18% below list
-- Median list price: $499,900
-- Median sale price: $439,500
- Total homes sold: 406
-- Share that sold above list: 13.5%

#21. Memphis, Tennessee

- Average price difference: 3.18% below list
-- Median list price: $295,000
-- Median sale price: $275,000
- Total homes sold: 910
-- Share that sold above list: 14.4%

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#20. Pittsburgh

- Average price difference: 3.33% below list
-- Median list price: $239,000
-- Median sale price: $230,750
- Total homes sold: 1,353
-- Share that sold above list: 21.0%

#19. Flint, Michigan

- Average price difference: 3.40% below list
-- Median list price: $185,000
-- Median sale price: $189,450
- Total homes sold: 313
-- Share that sold above list: 25.6%

#18. Tampa, Florida

- Average price difference: 3.44% below list
-- Median list price: $399,000
-- Median sale price: $365,000
- Total homes sold: 4,100
-- Share that sold above list: 10.9%

#17. Montgomery, Alabama

- Average price difference: 3.51% below list
-- Median list price: $285,000
-- Median sale price: $261,200
- Total homes sold: 302
-- Share that sold above list: 13.6%

#16. Deltona, Florida

- Average price difference: 3.58% below list
-- Median list price: $382,062
-- Median sale price: $339,990
- Total homes sold: 1,037
-- Share that sold above list: 9.6%

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#15. Jackson, Mississippi

- Average price difference: 3.59% below list
-- Median list price: $285,000
-- Median sale price: $268,000
- Total homes sold: 367
-- Share that sold above list: 12.0%

#14. Port St. Lucie, Florida

- Average price difference: 3.69% below list
-- Median list price: $439,250
-- Median sale price: $415,000
- Total homes sold: 675
-- Share that sold above list: 6.7%

#13. Houston

- Average price difference: 3.69% below list
-- Median list price: $359,900
-- Median sale price: $325,000
- Total homes sold: 6,004
-- Share that sold above list: 11.9%

#12. Peoria, Illinois

- Average price difference: 3.72% below list
-- Median list price: $156,750
-- Median sale price: $149,322
- Total homes sold: 304
-- Share that sold above list: 20.1%

#11. North Port, Florida

- Average price difference: 3.92% below list
-- Median list price: $459,000
-- Median sale price: $410,000
- Total homes sold: 1,662
-- Share that sold above list: 6.8%

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#10. New Orleans

- Average price difference: 4.04% below list
-- Median list price: $315,000
-- Median sale price: $285,000
- Total homes sold: 672
-- Share that sold above list: 11.5%

#9. Youngstown, Ohio

- Average price difference: 4.09% below list
-- Median list price: $179,900
-- Median sale price: $160,000
- Total homes sold: 314
-- Share that sold above list: 23.6%

#8. Miami

- Average price difference: 4.39% below list
-- Median list price: $599,900
-- Median sale price: $575,000
- Total homes sold: 1,496
-- Share that sold above list: 7.4%

#7. Cape Coral, Florida

- Average price difference: 4.48% below list
-- Median list price: $429,999
-- Median sale price: $390,000
- Total homes sold: 1,293
-- Share that sold above list: 6.6%

#6. Fort Lauderdale, Florida

- Average price difference: 4.50% below list
-- Median list price: $443,750
-- Median sale price: $465,000
- Total homes sold: 1,628
-- Share that sold above list: 9.0%

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#5. West Palm Beach, Florida

- Average price difference: 5.08% below list
-- Median list price: $549,000
-- Median sale price: $533,750
- Total homes sold: 1,690
-- Share that sold above list: 5.4%

#4. Punta Gorda, Florida

- Average price difference: 5.37% below list
-- Median list price: $375,000
-- Median sale price: $323,000
- Total homes sold: 471
-- Share that sold above list: 4.7%

#3. Naples, Florida

- Average price difference: 5.43% below list
-- Median list price: $725,000
-- Median sale price: $710,000
- Total homes sold: 649
-- Share that sold above list: 3.1%

#2. Springfield, Missouri

- Average price difference: 11.60% below list
-- Median list price: $279,997
-- Median sale price: $269,000
- Total homes sold: 444
-- Share that sold above list: 0.2%

#1. Lubbock, Texas

- Average price difference: 16.98% below list
-- Median list price: $245,000
-- Median sale price: $241,500
- Total homes sold: 344
-- Share that sold above list: 0.0%

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