your experience concerning asking price to sale price (5%, agent, accept)

[jeffdoorgunner]

I would like to hear from any and all,sellers, buyers,realtors from all over.In your recent experience, what was the actual sale price compared to asking price..........5%less, 10% less........or more.........or none......

Thanks

[GuyFriendly]

Originally Posted by jeffdoorgunner

I would like to hear from any and all,sellers, buyers,realtors from all over.In your recent experience, what was the actual sale price compared to asking price..........5%less, 10% less........or more.........or none......

Thanks

The agent I talked with where we want to buy in western North Carolina told me that right now homes are selling at about 90% of the last list price. Not the first list - but whatever it has been finally reduced to.

I don't know about here in AZ, but I am hoping for about 95% of our list because we listed low to begin with. We'll see.

[eric#1]

In my area when the market is going up usually about 3-4. When its flat about 5-7. When it's going down about 8-9. Homes priced within 3.5 percent of where they sell, close way faster (usually months) than the others.

[Brandon Hoffman]

Varies by market. Find a local that knows the #'s and you probably found a good agent. Also should be house specific depending on how well priced it is. Overpriced home probably have a much higher variance, well priced home should small variance. Don't get tied to thinking you "need" a certain thing, base offers on the home itself.

[Rakin]

These are strange times. Under normal market conditions a well priced home will sell within 97-98% of the asking price. An overpriced home will sit on the market until it comes down in price and then usually sell within 2-5% of it's good and accurate price.

It's all about what motivates a seller. A highly motivated seller will sometimes accept a low ball offer of 5-10% off a well priced home.

A lot of it depends on how much equity they have in a home to give away. In most areas the market should be soft the next 90-120 days until we get into spring selling season.

[jeffdoorgunner]

Originally Posted by Brandon Hoffman

Varies by market. Find a local that knows the #'s and you probably found a good agent. Also should be house specific depending on how well priced it is. Overpriced home probably have a much higher variance, well priced home should small variance. Don't get tied to thinking you "need" a certain thing, base offers on the home itself.

true. The area I am looking to buy I have contacted an agent and he said there it is 5% to 10% depending on time on market,initial pricing etc........
Some statistics from an internet source said that same area up to 20%.
I was just curious as to what it is in different areas of the country from people who have firsthand knowledge.

[Rakin]

Not only varies by market, but areas within markets and house to house. Most areas have quite a bit of inventory right now and with the winter approaching Dec, Jan & Feb might see some people taking some pretty good discounts if they have room to do so.

[Brandon Hoffman]

I guess just since you were curious it's about 7% overall in Columbia SC, but it's a much larger spread on high priced homes and a much smaller spread around our median price range. So if you want to get specific it varies by local location and price even.

[Silverfall]

We are running about 90% of asking price at the time of offer...not the original asking price.

Higher end homes have more variance, and affordable homes tend to get closer to 98%.

[Giesela]

Sometimes your regions board of realtors website will have this info for you.
Here is Dayton's

Dayton Area Board of REALTORS® (http://www.dabr.com/press/market_updates/average_price.html - broken link)