Sales Price to List Price in Davis
Posted by carolyn in Davis Real Estate Market on November 21st, 2011
One of most important decisions when selling a house is determining how it should be priced. Pricing a house too high will effect the amount of buyer interest and often cause it to stay on the market longer than a well-priced home. The chart shows for homes that have sold during the past 14 months that the ratio between the original list price to the actual sales price has varried between 90 and 97%. It is important for buyers to know this information – and making an offer 20-30% less than the list price most likely will not be accepted.
Davis sales price to list price ratio
The numbers get even tighter when you look at the last list price to sales price. For the past 14 months they have consistantly been 97 to 98%. What this means if you are a seller and you are not getting offers is that buyers think your price is too high. Buyers when you see a price reduction to what other comparable properties are selling for, it is probably not the best time to put a low-ball offer in on the property. The housing market in Davis is still tight enough that demand for homes in Davis is still pretty strong.
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