36% of homes that sold last month went for more than their asking price, Redfin data shows

Here’s more proof of a seller’s market.

The national median home-sale price shot up 14.4% year-over-year to $336,200 last month in the most substantial increase since July 2013, according to a report by real estate brokerage Redfin.

ndeed, bidding wars are happening in markets across the country as many Americans working remotely seek larger spaces. As a result, up to 36% of homes that sold last month went for over their asking price, Redfin data shows, while uneven supply and demand continues to send home prices soaring.

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“This is the strongest seller’s market since at least 2006,” Redfin Chief Economist Daryl Fairweather said in the report. “Buyers outnumber sellers by such a huge margin that many homeowners are staying put because they know how hard it would be to find a place to move to. It seems like the only move-up buyers who are confident enough to list their homes are those who are relocating to a more affordable area where they’ll have an edge on the local competition."