Most homeowners understand that buyers expect sellers to negotiate on the sale price of a home. The big question for both buyers and sellers is How Much Do Sellers Typically Come Down in Negotiations?
There are always some sellers who manage to sell for full price, even in today's market. I recently sold a home listing at 775 Crescent Woods Drive for 100% of the listing price.
Other homes can take a long time to sell. Usually the ones that take an extended period to sell are overpriced based on their location, features and condition. However, sometimes the demand for a particular type of property is so low that even properties priced appropriately can take a long time to sell. A good agent should be able to identify these conditions before listing a property.
My experience after tracking the market and hundreds of individual properties in the last few years is that the vast majority of sellers come down between 3-6% off of the current listing price in contract negotiations. In addition, sellers often agree to pay buyer closing costs ranging from $2000-4000.
How Much Did Brentwood Sellers Come Down in 2012?
There were 136 homes (single family & condos) that sold in Brentwood School District in 2012.
Sold in 0-30 Days - sold for 97.9% of list price
Sold in 31-60 Days - sold for 94.2% of list price
Sold in 61-90 Days - sold for 89.8% of list price
Sold in 91-120 Days - sold for 91.2% of list price
Sold in 121+ Days - sold for 88.0% of list price
How Much Did Maplewood Sellers Come Down in 2012?
There were 256 homes (single family & condos) that sold in the St. Louis County portion of 63043.
Sold in 0-30 Days - sold for 98.3% of list price
Sold in 31-60 Days - sold for 95.2% of list price
Sold in 61-90 Days - sold for 93.2% of list price
Sold in 91-120 Days - sold for 91.8% of list price
Sold in 121+ Days - sold for 85.5% of list price
Find out how fast homes sold...
One thing is clear, sellers who sell fast are able to sell without coming down as much. If you are getting ready to sell your home and want to make as much as possible, be sure to price your home right from the start and consult with an agent experienced in staging so your home looks great to buyers on day one.
Arch City Homes offers buyer and seller representation. If you are planning to buy or sell a home, contact Karen Goodman (karen@archcityhomes.com or 314-677-6538) to discuss how our agent specialists can help you accomplish your goals.
