Sale Price vs. Asking Price on New & Used Homes (Dollar & Percentage) (Apex: comparable sales, sales)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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I'd like to start a hopefully long and lasting thread where people post the price they paid for their homes, either new or used, in relation to the asking price. So, if you're willing, please tell us about your home (location, size, features), the date purchased or sold, asking price, sale price, and percentage (although we can figure that out ourselves). Include any other details you'd like, including about the negotiation process. (What was your initial offer? Counter offer? etc.)
I know there are other threads like this, but maybe this could become a standard resource. Discussion is possible, but ideally, this thread would primarily contain good information for buyers and sellers.
Sorry I don't have any stats to add, but problem with thinking along these lines is that sellers see the game, then overprice the property, assuming buyers want a % discount. So you get overpriced properties and it just adds to the log-jam. People who actually put their property on at reasonable prices as folks want to get their discount.
Thanks for your input, but there's really no problem in thinking along these lines. These are stats that realtors refer to when advising clients. You can get a sense of a market by referring to them and they're just one more bit of information that can be used to make or accept an offer.
or, you can look up the county website, see how much a house was sold for...check on the sales that happened in the neighborhood, or comparable sales and then make a decision accordingly...
I just don't think you will get a lot of the information you are looking for otherwise...
I don't know the exact numbers but the leval of gamesmanship going on in this area is not nearly what it is in some places. The ratio of selling to asking price around here is well over 95% and at one point was near 98%.
We ended up giving the seller the asking price after they did not lower the price at our first offer. For giving them asking prioce we asked for and got them to pay for a privacy fence, the 1400.00 fridge, 7k in closing costs and the King size bed used for showing.
In June of last year I paid full price for my house the first day it came on the market, and didn't ask for anything that the seller didn't offer in the listing (carpet allowance and home warranty). It was in my target neighborhood, priced fairly and on an exceptional lot - I wasn't going to risk losing it over a few thousand dollars. A few months later I sold my house in Apex for ~1.4% off list price for an all cash deal and a 14-day close. I don't like to mess around when it comes to real estate. :-)
Offered 93% of asking price and accepted counter of 96%. Will close in July. House was priced reasonably to begin with, however, so I didn't see the need to lowball...
the three recent sold houses (brand new) in my hood were sold at 89-95% off the listing price. the one resell sold at 95% off this year's list price (88% off last year's list price).
BTW, the houses range $550k to 750k in one of the "hot" north raleigh spots
Quote:
Originally Posted by BH1973
Hi,
I'd like to start a hopefully long and lasting thread where people post the price they paid for their homes, either new or used, in relation to the asking price. So, if you're willing, please tell us about your home (location, size, features), the date purchased or sold, asking price, sale price, and percentage (although we can figure that out ourselves). Include any other details you'd like, including about the negotiation process. (What was your initial offer? Counter offer? etc.)
I know there are other threads like this, but maybe this could become a standard resource. Discussion is possible, but ideally, this thread would primarily contain good information for buyers and sellers.
When we bought our house (new construction) last October we actually offered 3% over asking price, but we wanted them to finish the bonus room and completely gut the kitchen (cabinets had been installed) so that we could do a completely custom kitchen. We ultimately paid about $85.55 per square foot. Even adding in the $5,500 in upgrades we paid for in cash, we still paid about $87.18 per square foot.
The exact same house two houses down from us just sold for just under 93% of listing. They didn't get a better deal though because they ultimately paid about $87.75 per square foot. So even though they paid $30k less than us for the same house, we got the better deal. And they don't have nearly the upgrades that we have.
So it's kind of hard to compare apples to apples based just on the percent of list price. Our houses had exactly the same list price, but when you factored in what each of us walked away with, for exactly the same house, we made out slightly better paying 103% of list than they did paying 10% less!
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