Question: I’ve been reading in the newspaper and seeing on TV that houses are not selling for what they are listed for. How much can I take off the asking price?
Answer: Houses are selling on average for 91% of their original list price, which is to say that this is an average. Homes that are dramatically overpriced will not sell for even that much, whereas homes that are priced right might go for near full price, or even for more than full price if there are multiple offers, which is happening more often as of late.
The correct answer to the question is: “it depends on the house.” If the house is priced reasonably, your offer should be similarly reasonable. If the house is very overpriced, your offer will obviously have to be much lower than asking. Each house is different and should be treated different and not with some blanket rule regarding pricing.
