A change in mortgage rates always moves this market. The March increased to the 4% plus ranges, and outlooks say more are on the way, was no exception. It was one of the things that drove the March sales 36% higher than the previous month. Pending sales also jumped. They were up 3% from Feb. – the first time new accepted contracts increased in five months. 

At the same time, March’s sold to list price ratio jumped to 99.4% after hovering in the 98% range for several months. That means sellers were getting almost all of what they were asking.  

That differs from some street talk about above-list offers. Not all over-list offers are accepted or make it to closing. March’s typical sales price was $12,693 below the median – or typical – list price. 

Here’s the average difference between the March sales price and the list price by loan type: 

Cash – $389 lower  

Conventional – $1,369 lower 

FHA – $3,406 higher 

THDA – $2,120 higher 

USDA – $1,665 higher 

VA – $2,142 higher