Let’s check in on our stats to find out where buyers are currently getting the biggest discounts off asking price. If you are a potential buyer, this will help you to know which neighborhoods may be softer in terms of sale price discounts off list price, and help you know where to look for potential bargains.
In the charts below, we have taken all sales data from the month of November in San Diego County and sorted it by city.
First, we compiled a list of every sale that took place in the month, calculating each sale’s sale-to-list ratio (based on the final list price). Next, we simply take an average of every individual sale’s sale-to-list ratio to calculate an entire area’s sale-to-list ratio. Any sales that came in with a sale-to-list ratio above 150% or below 50% are excluded from the calculation, and areas with fewer than twenty sales are excluded from the top and bottom ten rankings. Interested readers may download the full data summary in Excel format (xls).
Here are the top ten areas with the largest overall discount:
Only six cities had sale prices below the final list prices on average (and just barely in Fallbrook, which was basically dead even). The overall discount held steady from our last update (based on August sales) at -0.7%.
Here are the ten areas with the smallest discounts:
You may notice that the top of the bottom list is the same as the bottom of the top list. That is because only 19 areas met our 20 sales minimum threshold to be ranked in the charts this month. In the 19 areas we ranked, the median discount was -0.6%.
Is the area you’re shopping not on either the top 10 or bottom 10? No problem, just download the full rankings in Excel format and check out the appropriate “Full” sheet.
Of the 2,648 sales we tracked in the 1-month period, 438 homes sold for 5% or more off the asking price, while 594 homes sold for 5% or more above the asking price.