At every open house, people want to know, “How much lower?”
It is relative to the usual factors – how long on the market, seller motivation, etc. – but what over-rides everything else is timing. It is early in the selling season now, and every seller is optimistic.
Even if the house has been on the market for months – or repeatedly ‘refreshed’ over several years – every seller thinks this is a new beginning.
If you look at the recent averages, big discounts are rare – buyers are lucky to get 5% off, especially in the first half of the year.
Here is the history of discounts off list price in North SD Coastal:
Houses sold under $1,400,000 have barely knocked off 2% to 3% from the list price over the last three years. Those between $1.4 and $2.4 had a great year in 2015 – above 95%. But every price range does better in spring.
