Cash deals, seller discounts, and over-list-price sales 

Don Fenley 

GRAY, Tenn. – Cash deals accounted for 34% of August’s existing home sales because the number of total sales declined. Cash sales have ranged from 262 to 265 for the last three months. The only month they were higher was April when the count rose to 280. 

Combined with conventional loans, cash deals account for a little over 80% of all existing home sales.  

A noteworthy aspect is also the type of loans where sellers got over-list deals or discounted their price. 

There were a little over 300 sales in the core Northeast Tennessee Association of Realtors (NETAR) service area last month, where sellers came off their asking price. The median discount was $11,900. At the same time, there were a little over 200 sales that were above the list price. The median amount over the list price was $9,850. 

THDA loans accounted for 0.4% of the last month’s sales, but they had the highest above-list average of any other loan type ($9,922).  

USDA loans had the second highest share of above list deals, and the overage was $2,690 per sale.

Buyers who financed with FHA loans accounted for 8.1% of all sales and averaged $347 above the list price. 

The highest average discount from the listing price ($4,900) was from cash buyers. Those who used conventional loans had the second higher discount from the listing price ($4,475).  

VA loans accounted for 7.6% of all sales and had the third highest discount from the list price ($3,378). 

August’s typical list price was $286,070 – the highest so far this year. List prices have increased every month since the first of the year. 

NETAR is the voice for real estate in Northeast Tennessee. It is the largest trade association in the Northeast Tennessee, Southwest Virginia region, representing over 1,800+ members and 100+ business partners involved in all aspects of the residential and commercial real estate industries. Weekly market reports and information for both consumers and members are available on the NETAR website at