offers below asking price

[coastal]

What's the average % below asking price that is being accepted in your market?

Here in Rehoboth Beach Delaware it looks to be about 6% below asking is the norm for accepted offers.Obviously some sellers wont budge a penny and others may take 25% below asking but 6% is average here.

[satxproperty]

For SFD, our average for the solds first quarter was 96.12%. (Sales Price/List Price Average.)

[Malok]

The stats are somewhat misleading - as you can have a seller put a $300,000 house on the market for $1 million, and 6 months later reduce the price down to $300,000, to have it sell for $295,000.

Do you go from the original list price? the highest list price within the past 90 days? the most recent list price in which the house got a contract on it? etc etc etc etc


If you elect to choose the last option, which is the most recent list price, the median is approximately 3% in our area.

[Web Agent]

In our area, the average discount off list is 3% and that has been constant for the past 4 years. I agree with Malok that the numbers can lose meaning. Our stats are computed on the last list price so it does not take into account the original price which could be a lot higher.

[satxproperty]

For SFD, our average for the solds first quarter was 96.12%. (Sales Price/List Price Average.)

Ours is also computed on the list price when sold vs sales price (as reported by the agents.)

[coastal]

Agreed it can be misleading because as you said "list price when sold vs sales price" does not take into account the multiple price reductions that most of these homes have seen.

[Bigtoe]

We use paragon and it screws up the stats even more when an agent enters a listing with a typo in the price. An extra "0" in the initial list price and the stats are useless.

[Portland Real Estate]

Interesting... I'm showing an average discount of 12.6% (sold price / listing price ) on our stats for the last 3 months.

[tampa4u]

our agents are tough negotiators. it is not uncommon for us to get 60 to 75 cents on the dollar for our buyers. We've gotten it as low as 50 cents. The percentage in our market is much higher than that. possibly 80 to 90 cents on the dollar.

[papaul1621]

In my opinion, the best way to do this kind of stat is to go off the current list price even though it had price reductions because at that list price, the house sold.