learnlive from the mlslast 90 days of salesboyenga team at compass
The Offer Lab
How far over or under asking homes are closing, city by city, from every house, condo and townhome sale reported to the MLS in the last 90 days. Pick a city, then see where an offer would land.
- median sale-to-list…sale price ÷ list price
- sold over asking…share of sales
- sales in 90 days…reported to the MLS
- typical amount over…median, homes sold over asking
the spread
How Palo Alto sales closed against list price
Each sale’s price divided by its list price at the time of sale. A home listed at $2,000,000 that sold for $2,100,000 closed at 105%.
Half of sales closed within this range of list price.
The top tenth of sales by share of list price.
Share of sales on each side of the list price.
Of the same sales.
Sale price divided by listed living area.
This city had more sales than the page reads at once, so the figures use the 2,000 most recent sales.
offer check
Where your offer would land
Enter a list price and the offer you’re weighing to see how that share of list price compares with recent sales.
against recent sales
by month and price
Month by month in Palo Alto
The same sales, grouped by the month they closed and by list price. Bidding can run hotter in some price ranges than in the city as a whole.
| month of sale | sales | median sale-to-list | sold over asking |
|---|
By list price
| list price | sales | median sale-to-list | sold over asking |
|---|
The first and last months are partial. Price ranges use the list price; ranges with fewer than five sales don’t show a median.
the nerd check
How to read these numbers
If you’re buying
- Treat the list price as a starting pointWhere most homes close over asking, list prices are often set to draw several offers. Compare recent sales, not just the asking price.
- Check your price rangeSale-to-list can differ by price range and home type. Look at the table for your range before you settle on a number.
- Terms count tooPrice is one part of an offer. Deposit, contingencies, timing and proof of funds can decide between close offers.
- Get the comps for the streetCitywide figures are a backdrop. We’ll pull the sales closest to the home you’re bidding on.
If you’re selling
- Judge the result by the priceA home priced below its likely value can close well over asking and still sell for what similar homes sold for. The sale price is what you keep.
- Watch the under-asking shareIf many sales in your range closed under asking, buyers there have room to negotiate. Plan prep and pricing with that in mind.
- Compare like with likeHouses and condos can trade very differently in the same city. Use the home type buttons above.
- Ask for the full pictureWhen we price a home, we add pending sales and the active competition to these closed sales.
Sale-to-list compares the sale price with the list price reported at the time of sale. A home that cut its price and then sold at the new price shows 100%, so we also look at original list prices and days on market when we advise on an offer or a price.
questions
Questions we hear
What does sale-to-list mean?
The sale price divided by the list price. 100% means the home sold at its asking price; 105% means 5% over.
Where does the data come from?
Closed sales reported to the MLS and shared with our site through IDX feeds, read each time the page loads. Houses, condos and townhomes are included; mobile homes, multi-unit buildings, land and commercial sales are left out.
Why do the numbers change from day to day?
New sales are added as they’re reported, and the 90-day window moves forward each day. Smaller cities have fewer sales, so a few sales can move the figures.
Does a high sale-to-list mean prices are rising?
Not on its own. It also reflects how homes are being priced. For price trends, see the median sale price by month in Market Pulse.
Can you help with an offer on a specific home?
Yes. We’ll pull the closest comparable sales, ask about other offers and help you set price and terms.
more to learn
Keep going
- Market PulseHomes for sale and 12 months of sale prices by city.
- Buyer PlaybookFrom pre-approval to keys, with a contract clock.
- Seller PlaybookSelling a home, step by step.
- What you can affordFrom income, debts and cash to a price.
- Early AccessHomes before they reach the MLS.
- What’s my home worth?A value estimate from the Boyenga Team.
Based on closed sales reported to the MLS through our IDX feeds, read live each time the page loads. Shown as reported and not guaranteed; repeat records from overlapping feeds are removed. Figures describe past sales, not a prediction for any home.
talk to a property nerd
Writing an offer, or pricing a home?
We’ll pull the sales that matter for one street and help you set a price and terms that fit this market. Commissions are negotiable, and we offer bundled services, so ask us what’s included.
