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Metros where homes are selling for the most under asking price

Where can you get the best deal for a home in today's market? Stacker analyzed data from Redfin to see which metros had the most homes sold under asking price.

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Sean Pavone // Shutterstock

It's a tough time to be in the market for a new house.

The average 30-year fixed rate mortgage rose above 7% at the start of November as the Federal Reserve has raised its benchmark rates month after month to combat inflation. Even a half of a percentage point increase can have an outsized impact on the monthly payments required for a mortgage.

Since mortgage rates have been under 4% for the better part of the last decade, homebuyers have locked in mortgage rates that are far more affordable than what's suddenly on offer in today's high rate environment. And sellers aren't exactly coming down on price – home prices are still increasing, just more slowly than they did from 2020-2021.

And yet there are still metro areas where home buyers are finding homes selling for below asking price.

Stacker analyzed data from Redfin to see which metros had the most homes sold under asking price. Data shows sales for the week ending 11/06/22. Metros where fewer than 12 homes were sold were excluded from this list. Metros are ranked based on the average sale to list ratio. This is a mean ratio of the home sale price divided by the list price.

In the first week of November 1,676 homes were sold across the 50 metro areas analyzed for a median sale price of just over $260,000.

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#50. Miami, FL metro area

Kolossos // Wikimedia Commons

- Average sale to list ratio: 0.962
- Total homes sold: 420
- Median sale price: $485,000

#49. Clearlake, CA metro area

huangcolin // Shutterstock

- Average sale to list ratio: 0.961
- Total homes sold: 16
- Median sale price: $282,500

#48. Saginaw, MI metro area

WeaponizingArchitecture // Wikicommons

- Average sale to list ratio: 0.961
- Total homes sold: 36
- Median sale price: $143,500

#47. Shelbyville, TN metro area

rossograph // Wikimedia Commons

- Average sale to list ratio: 0.961
- Total homes sold: 14
- Median sale price: $299,450

#46. Utica, NY metro area

Jmancuso // Wikimedia Commons

- Average sale to list ratio: 0.961
- Total homes sold: 37
- Median sale price: $182,500

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#45. Jasper, IN metro area

Roberto Galan // Shutterstock

- Average sale to list ratio: 0.960
- Total homes sold: 14
- Median sale price: $224,500

#44. Port Angeles, WA metro area

Ulf Nammert // Shutterstock

- Average sale to list ratio: 0.960
- Total homes sold: 14
- Median sale price: $464,500

#43. Indiana, PA metro area

Michael Deemer // Shutterstock

- Average sale to list ratio: 0.959
- Total homes sold: 14
- Median sale price: $165,500

#42. Macon, GA metro area

Soglad2005 // Wikimedia Commons

- Average sale to list ratio: 0.958
- Total homes sold: 41
- Median sale price: $248,000

#41. Farmington, MO metro area

TheCatalyst31 // Wikimedia Commons

- Average sale to list ratio: 0.957
- Total homes sold: 14
- Median sale price: $159,900

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#40. Glenwood Springs, CO metro area

Jacob Boomsma // Shutterstock

- Average sale to list ratio: 0.957
- Total homes sold: 32
- Median sale price: $737,500

#39. Muskogee, OK metro area

Canva

- Average sale to list ratio: 0.957
- Total homes sold: 16
- Median sale price: $149,200

#38. Mount Airy, NC metro area

Canva

- Average sale to list ratio: 0.957
- Total homes sold: 15
- Median sale price: $239,900

#37. Ashtabula, OH metro area

IanSkylake17 // Shutterstock

- Average sale to list ratio: 0.956
- Total homes sold: 16
- Median sale price: $137,750

#36. Bowling Green, KY metro area

OPMaster // Wikimedia Commons

- Average sale to list ratio: 0.956
- Total homes sold: 23
- Median sale price: $219,000

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#35. Evansville, IN metro area

Roman Eugeniusz // Wikimedia Commons

- Average sale to list ratio: 0.955
- Total homes sold: 64
- Median sale price: $152,250

#34. Gardnerville Ranchos, NV metro area

Jeffrey B. Banke // Shutterstock

- Average sale to list ratio: 0.955
- Total homes sold: 19
- Median sale price: $690,000

#33. Punta Gorda, FL metro area

Carol Ann Mossa // Shutterstock

- Average sale to list ratio: 0.955
- Total homes sold: 82
- Median sale price: $360,000

#32. Wenatchee, WA metro area

Jennifer Gottwald // Wikicommons

- Average sale to list ratio: 0.954
- Total homes sold: 32
- Median sale price: $521,500

#31. Sherman, TX metro area

Renelibrary // Wikicommons

- Average sale to list ratio: 0.954
- Total homes sold: 32
- Median sale price: $291,500

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#30. Hot Springs, AR metro area

Sharon Day // Shutterstock

- Average sale to list ratio: 0.954
- Total homes sold: 21
- Median sale price: $245,000

#29. Sterling, IL metro area

IvoShandor // Wikimedia Commons

- Average sale to list ratio: 0.954
- Total homes sold: 15
- Median sale price: $103,000

#28. Logan, UT metro area

Nile Dean Meservy // Wikimedia Commons

- Average sale to list ratio: 0.953
- Total homes sold: 24
- Median sale price: $462,500

#27. Cañon City, CO metro area

Jacob Boomsma // Shutterstock

- Average sale to list ratio: 0.953
- Total homes sold: 16
- Median sale price: $392,000

#26. Erie, PA metro area

pubdog // Wikimedia Commons

- Average sale to list ratio: 0.953
- Total homes sold: 46
- Median sale price: $149,950

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#25. Jacksonville, IL metro area

Paul Sableman // Wikimedia Commons

- Average sale to list ratio: 0.953
- Total homes sold: 16
- Median sale price: $124,750

#24. Cumberland, MD metro area

Acroterion // Wikicommons

- Average sale to list ratio: 0.952
- Total homes sold: 21
- Median sale price: $120,000

#23. Peoria, IL metro area

Robert Lawton // Wikimedia Commons

- Average sale to list ratio: 0.952
- Total homes sold: 101
- Median sale price: $130,000

#22. Tullahoma, TN metro area

Brian Stansberry // Wikimedia Commons

- Average sale to list ratio: 0.952
- Total homes sold: 24
- Median sale price: $270,000

#21. Corning, NY metro area

Spiroview Inc // Shutterstock

- Average sale to list ratio: 0.951
- Total homes sold: 15
- Median sale price: $166,900

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#20. Owensboro, KY metro area

Chris Light // Wikimedia Commons

- Average sale to list ratio: 0.951
- Total homes sold: 23
- Median sale price: $190,000

#19. Athens, TX metro area

Hot Furnace // Wikimedia Commons

- Average sale to list ratio: 0.950
- Total homes sold: 21
- Median sale price: $334,990

#18. Key West, FL metro area

Stuart Monk // Shutterstock

- Average sale to list ratio: 0.949
- Total homes sold: 22
- Median sale price: $805,000

#17. Clinton, IA metro area

Michael J. Kearney // Wikimedia Commons

- Average sale to list ratio: 0.948
- Total homes sold: 17
- Median sale price: $147,500

#16. Paragould, AR metro area

Roberto Galan // Shutterstock

- Average sale to list ratio: 0.948
- Total homes sold: 14
- Median sale price: $161,500

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#15. Ottawa, IL metro area

IvoShandor // Wikimedia Commons

- Average sale to list ratio: 0.947
- Total homes sold: 27
- Median sale price: $117,000

#14. Poplar Bluff, MO metro area

Roberto Galan // Shutterstock

- Average sale to list ratio: 0.947
- Total homes sold: 13
- Median sale price: $180,000

#13. Fergus Falls, MN metro area

Jacob Boomsma // Shutterstock

- Average sale to list ratio: 0.947
- Total homes sold: 18
- Median sale price: $257,500

#12. Las Cruces, NM metro area

Public Domain

- Average sale to list ratio: 0.946
- Total homes sold: 38
- Median sale price: $315,000

#11. Sandpoint, ID metro area

Alvin Feng // Wikimedia Commons

- Average sale to list ratio: 0.944
- Total homes sold: 17
- Median sale price: $580,000

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#10. Shelby, NC metro area

Nolichuckyjake // Shutterstock

- Average sale to list ratio: 0.940
- Total homes sold: 13
- Median sale price: $220,000

#9. Zanesville, OH metro area

Canva

- Average sale to list ratio: 0.937
- Total homes sold: 15
- Median sale price: $140,000

#8. Gadsden, AL metro area

Prestinian // Wikimedia Commons

- Average sale to list ratio: 0.935
- Total homes sold: 19
- Median sale price: $205,000

#7. Kendallville, IN metro area

Derek Jensen (Tysto) // Wikimedia Commons

- Average sale to list ratio: 0.934
- Total homes sold: 14
- Median sale price: $262,000

#6. Pottsville, PA metro area

Tc65306n // Wikimedia Commons

- Average sale to list ratio: 0.930
- Total homes sold: 35
- Median sale price: $101,100

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#5. Hutchinson, KS metro area

Jacob Boomsma // Shutterstock

- Average sale to list ratio: 0.926
- Total homes sold: 16
- Median sale price: $154,900

#4. Lake Charles, LA metro area

Patrick Feller//Flickr

- Average sale to list ratio: 0.922
- Total homes sold: 32
- Median sale price: $215,500

#3. Ardmore, OK metro area

Jumping Rocks // Getty Images

- Average sale to list ratio: 0.922
- Total homes sold: 26
- Median sale price: $136,000

#2. Rome, GA metro area

Thomson200 // Wikimedia Commons

- Average sale to list ratio: 0.916
- Total homes sold: 19
- Median sale price: $170,000

#1. New Castle, PA metro area

ROBERT SBARRA // Shutterstock

- Average sale to list ratio: 0.898
- Total homes sold: 27
- Median sale price: $140,000

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