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Miami homes selling below listing price

by Stacy Carchman

Miami homes selling below listing price

The average U.S. home is selling at 100% of their listing price for the month ending March 14, highest level recorded, according to a Redfin report. Last year at this time, the average home sold for 1.8% below list price, nationwide.

Miami is among the metro areas that are selling below listing price. The average home in Miami sold for 4% below its asking price, making it the largest discount of the metro areas analyzed by Redfin.

“Even so, Miami’s housing market has been hot during the pandemic, particularly for high-end homes,” the report noted. “Homes selling below their list price reflects market norms in the area.”

Miami is followed by New Orleans (2.5% below asking), Pittsburgh (2% below asking price), Orlando (1.7% below asking price) and Chicago (1.6% below asking price).

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