Metro Phoenix homes sold $500K over asking price more than triple in Q2

By Michael Gossie | AZ Big Media

The number of homes selling for huge sums over asking price has risen rapidly since the start of the year. The second quarter of 2021 saw 2,244 houses nationwide sell for $500,000 or more over their original list price, more than twice that of Q1. Those selling for $1 million over list were up 60% over the prior quarter, while the share that sold for 30% or more over list rose from 1.1% in Q1 to 1.7% in Q2.

In the Phoenix Metro, in the second quarter of 2021:

• 17 homes sold for $1 million or more over first list price, compared to 8 in the first quarter of 2021

• 50 homes sold for $500,000+ over original list, compared to 15 in Q1 of 2021 and 12 in Q2 of 2019

• 2.9% of homes sold for 30% or more above first list, compared to 1.2% in Q1 of 2021

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