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

Homebuyers are beginning to feel relief from skyrocketing home prices spurred by the COVID-19 pandemic. For the fifth month in a row, year-over-year price growth slowed in November, but a shortage of homes on the market is keeping prices high.

The median sale price in November was $430,107, 5.4% higher than the year before, according to Redfin. Of the homes that sold, 26.5% went above their list price, and the average price difference was 1.2% below asking.

Stacker analyzed data from Redfin to see where homes are selling for the most below the asking price. Metros—including the main city and its surrounding towns and suburbs—are ranked by the average sale-to-list ratio, which is the difference between what a home 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.

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#50. Tucson, Arizona

- Average price difference: 2.27% below list
-- Median list price: $379,800
-- Median sale price: $370,950
- Total homes sold: 916
-- Share that sold above list: 13.2%

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#49. Lakeland, Florida

- Average price difference: 2.30% below list
-- Median list price: $334,990
-- Median sale price: $315,000
- Total homes sold: 1,052
-- Share that sold above list: 13.5%

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#48. Tulsa, Oklahoma

- Average price difference: 2.30% below list
-- Median list price: $280,000
-- Median sale price: $261,500
- Total homes sold: 977
-- Share that sold above list: 20.2%

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#47. Philadelphia

- Average price difference: 2.40% below list
-- Median list price: $269,949
-- Median sale price: $280,000
- Total homes sold: 1,514
-- Share that sold above list: 27.3%

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#46. Detroit

- Average price difference: 2.41% below list
-- Median list price: $169,900
-- Median sale price: $192,000
- Total homes sold: 1,484
-- Share that sold above list: 33.1%

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#45. Dallas

- Average price difference: 2.44% below list
-- Median list price: $425,000
-- Median sale price: $410,000
- Total homes sold: 4,596
-- Share that sold above list: 13.3%

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#44. Killeen, Texas

- Average price difference: 2.48% below list
-- Median list price: $285,000
-- Median sale price: $275,630
- Total homes sold: 483
-- Share that sold above list: 14.7%

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#43. Peoria, Illinois

- Average price difference: 2.49% below list
-- Median list price: $144,995
-- Median sale price: $164,950
- Total homes sold: 418
-- Share that sold above list: 24.9%

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#42. Orlando, Florida

- Average price difference: 2.49% below list
-- Median list price: $415,000
-- Median sale price: $407,990
- Total homes sold: 2,690
-- Share that sold above list: 10.9%

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#41. Dayton, Ohio

- Average price difference: 2.51% below list
-- Median list price: $209,900
-- Median sale price: $235,000
- Total homes sold: 770
-- Share that sold above list: 23.9%

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#40. Pensacola, Florida

- Average price difference: 2.55% below list
-- Median list price: $345,000
-- Median sale price: $321,900
- Total homes sold: 656
-- Share that sold above list: 12.2%

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#39. Gary, Indiana

- Average price difference: 2.56% below list
-- Median list price: $269,900
-- Median sale price: $289,195
- Total homes sold: 776
-- Share that sold above list: 18.3%

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#38. Myrtle Beach, South Carolina

- Average price difference: 2.57% below list
-- Median list price: $345,000
-- Median sale price: $342,500
- Total homes sold: 1,458
-- Share that sold above list: 8.2%

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#37. Huntsville, Alabama

- Average price difference: 2.57% below list
-- Median list price: $330,000
-- Median sale price: $315,000
- Total homes sold: 708
-- Share that sold above list: 13.3%

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#36. Prescott Valley, Arizona

- Average price difference: 2.59% below list
-- Median list price: $575,000
-- Median sale price: $535,000
- Total homes sold: 307
-- Share that sold above list: 9.1%

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#35. Hickory, North Carolina

- Average price difference: 2.63% below list
-- Median list price: $301,499
-- Median sale price: $301,500
- Total homes sold: 336
-- Share that sold above list: 21.1%

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#34. San Antonio

- Average price difference: 2.67% below list
-- Median list price: $313,090
-- Median sale price: $299,992
- Total homes sold: 2,518
-- Share that sold above list: 10.1%

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#33. Lafayette, Louisiana

- Average price difference: 2.68% below list
-- Median list price: $243,500
-- Median sale price: $233,255
- Total homes sold: 366
-- Share that sold above list: 10.7%

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#32. Hilton Head Island, South Carolina

- Average price difference: 2.72% below list
-- Median list price: $560,770
-- Median sale price: $524,000
- Total homes sold: 451
-- Share that sold above list: 10.2%

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#31. Gulfport, Mississippi

- Average price difference: 2.74% below list
-- Median list price: $275,000
-- Median sale price: $249,900
- Total homes sold: 411
-- Share that sold above list: 12.2%

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#30. Austin, Texas

- Average price difference: 2.82% below list
-- Median list price: $450,000
-- Median sale price: $434,000
- Total homes sold: 2,163
-- Share that sold above list: 9.8%

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#29. Palm Bay, Florida

- Average price difference: 2.96% below list
-- Median list price: $384,900
-- Median sale price: $370,000
- Total homes sold: 736
-- Share that sold above list: 7.7%

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#28. Jacksonville, Florida

- Average price difference: 2.99% below list
-- Median list price: $382,990
-- Median sale price: $379,950
- Total homes sold: 1,916
-- Share that sold above list: 12.1%

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#27. Scranton, Pennsylvania

- Average price difference: 3.00% below list
-- Median list price: $215,900
-- Median sale price: $209,500
- Total homes sold: 429
-- Share that sold above list: 29.4%

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#26. Daphne, Alabama

- Average price difference: 3.02% below list
-- Median list price: $449,000
-- Median sale price: $358,950
- Total homes sold: 386
-- Share that sold above list: 7.0%

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#25. Jackson, Mississippi

- Average price difference: 3.04% below list
-- Median list price: $252,000
-- Median sale price: $269,900
- Total homes sold: 349
-- Share that sold above list: 13.2%

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#24. Ocala, Florida

- Average price difference: 3.12% below list
-- Median list price: $289,900
-- Median sale price: $286,990
- Total homes sold: 704
-- Share that sold above list: 12.2%

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#23. Pittsburgh

- Average price difference: 3.12% below list
-- Median list price: $229,900
-- Median sale price: $228,000
- Total homes sold: 1,723
-- Share that sold above list: 22.8%

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#22. Montgomery, Alabama

- Average price difference: 3.18% below list
-- Median list price: $240,125
-- Median sale price: $246,268
- Total homes sold: 337
-- Share that sold above list: 11.0%

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#21. Youngstown, Ohio

- Average price difference: 3.26% below list
-- Median list price: $169,900
-- Median sale price: $179,900
- Total homes sold: 441
-- Share that sold above list: 22.7%

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#20. Asheville, North Carolina

- Average price difference: 3.27% below list
-- Median list price: $479,900
-- Median sale price: $457,368
- Total homes sold: 372
-- Share that sold above list: 13.2%

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#19. Flint, Michigan

- Average price difference: 3.29% below list
-- Median list price: $160,000
-- Median sale price: $188,610
- Total homes sold: 346
-- Share that sold above list: 26.6%

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#18. Memphis, Tennessee

- Average price difference: 3.29% below list
-- Median list price: $273,700
-- Median sale price: $271,000
- Total homes sold: 1,114
-- Share that sold above list: 12.3%

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#17. Tampa, Florida

- Average price difference: 3.30% below list
-- Median list price: $383,825
-- Median sale price: $375,000
- Total homes sold: 3,737
-- Share that sold above list: 11.3%

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#16. Crestview, Florida

- Average price difference: 3.30% below list
-- Median list price: $531,362
-- Median sale price: $420,000
- Total homes sold: 535
-- Share that sold above list: 7.3%

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#15. Houston

- Average price difference: 3.35% below list
-- Median list price: $345,000
-- Median sale price: $330,000
- Total homes sold: 6,426
-- Share that sold above list: 12.9%

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#14. Panama City, Florida

- Average price difference: 3.39% below list
-- Median list price: $379,900
-- Median sale price: $350,000
- Total homes sold: 326
-- Share that sold above list: 7.4%

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#13. North Port, Florida

- Average price difference: 3.46% below list
-- Median list price: $443,750
-- Median sale price: $417,495
- Total homes sold: 1,524
-- Share that sold above list: 5.4%

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#12. Port St. Lucie, Florida

- Average price difference: 3.58% below list
-- Median list price: $424,900
-- Median sale price: $399,900
- Total homes sold: 601
-- Share that sold above list: 6.8%

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#11. Deltona, Florida

- Average price difference: 3.60% below list
-- Median list price: $372,245
-- Median sale price: $350,375
- Total homes sold: 866
-- Share that sold above list: 9.4%

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#10. McAllen, Texas

- Average price difference: 3.64% below list
-- Median list price: $275,000
-- Median sale price: $251,000
- Total homes sold: 301
-- Share that sold above list: 15.9%

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#9. Mobile, Alabama

- Average price difference: 3.64% below list
-- Median list price: $239,900
-- Median sale price: $212,500
- Total homes sold: 317
-- Share that sold above list: 17.0%

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#8. Shreveport, Louisiana

- Average price difference: 3.78% below list
-- Median list price: $230,000
-- Median sale price: $218,000
- Total homes sold: 321
-- Share that sold above list: 8.1%

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#7. Cape Coral, Florida

- Average price difference: 3.97% below list
-- Median list price: $439,000
-- Median sale price: $385,000
- Total homes sold: 1,117
-- Share that sold above list: 9.1%

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#6. Fort Lauderdale, Florida

- Average price difference: 4.23% below list
-- Median list price: $445,000
-- Median sale price: $450,000
- Total homes sold: 1,718
-- Share that sold above list: 8.1%

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#5. New Orleans

- Average price difference: 4.33% below list
-- Median list price: $315,000
-- Median sale price: $278,285
- Total homes sold: 835
-- Share that sold above list: 11.4%

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#4. Punta Gorda, Florida

- Average price difference: 4.62% below list
-- Median list price: $375,000
-- Median sale price: $329,900
- Total homes sold: 406
-- Share that sold above list: 8.1%

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#3. Miami

- Average price difference: 4.67% below list
-- Median list price: $619,000
-- Median sale price: $569,900
- Total homes sold: 1,658
-- Share that sold above list: 8.1%

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#2. West Palm Beach, Florida

- Average price difference: 4.74% below list
-- Median list price: $535,000
-- Median sale price: $485,000
- Total homes sold: 1,476
-- Share that sold above list: 6.7%

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#1. Naples, Florida

- Average price difference: 5.73% below list
-- Median list price: $779,000
-- Median sale price: $582,500
- Total homes sold: 483
-- Share that sold above list: 3.3%

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