Sellers Selling for 98% of (Last) List Price


Sellers Selling for 98% of (Last) List Price
By Scott Rogers • November 15, 2016
This graph shows the average list price to sales price ratio (red line) in recent years as compared to the overall pace of home sales. Over the past several years, the amount that buyers have been able to negotiate sellers down on price has diminished significantly. Between 2010 and 2012, sellers were negotiating down to a median of 4% off of their (last) list price. Now, sellers are only negotiating down 2%. Of note --- 1. This is a median calculation -- so half of sellers are negotiating more than 2%, and half are negotiating even less than 2%. 2. This is a comparison of the sales price to the LAST list price. If a home is worth $200K and is listed for $300K, it is not likely to sell for 2% less than $300K. The seller is likely to have to continue to reduce the price until it is at a reasonable place -- perhaps 2% or 5% above $200K, and then they will likely negotiate somewhere around 2% to their final sales price. Find out more about the Harrisonburg and Rockingham County real estate market by visiting.... Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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