We recently did some analysis to see if there were any trends in how negotiable sellers were on the sales price of their home. The data was instructive, so we wanted to share our research so you can use it to your advantage when you are buying or selling a home in Austin this fall.
These statistics can be useful for:
- BUYERS that are considering making an offer on a home that’s been on the market for a while, or
- SELLERS considering how to price their home to sell.
Sales price to last list price
Sales price to original list price
$0 - 300,000
$300,000 - 5000,000
$500,000 - 700,000
$700,000 - 900,000
$900,000 - 1,000,000
$1,000,000 - 1,200,000
$1,200,000 - 1,500,000
$1,500,000 - 1,700,000
$1,700,000 - 2,000,000
$2,000,000 - 2,500,000
Here’s what these stats means for sellers:
Sellers with homes listed over $500,000 are making more significant price reductions from the original list price. For homes over $900,000 this is even more pronounced. This tells us that high-end sellers should consider pricing their homes in a more compelling manner when their home is first put on the market for sale.
And here’s how the numbers play out for buyers:
In the higher price ranges buyers can get away with being pretty aggressive when negotiating the purchase of a home that has been on the market for awhile. The question of how aggressive and how long a home has to be on the market depends on the specific circumstance of each situation.
We can help you navigate the numbers
This data is for the whole of Austin, so as you can imagine there is some variation depending on the neighborhood in question. If you want the data for a certain neighborhood, or you’d like to tap our pricing and negotiation expertise, we are only a call, text or email away. It’s our pleasure to be of service.
© 2017 Homesville Real Estate