Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Monday, January 23, 2012
Average Negotiations

More than they ever have!  Pre-boom, buyers (and thus sellers) were negotiating an average of 2.6% on price -- that is to say that homes were selling for 97.4% of the list price.  That went as low as an average of only 0.9% of negotiating room in 2004-2005, before rising quickly to current market conditions where the average negotiations are 5.3% of the list price.

Average Negotiations

If we look closer at the data pre-boom (c2000), mid-boom (c2005) and post-boom (c2011) we find some interesting facts:
  • Last year (2011) 8% of buyers paid more than full price for their homes! 
  • Only 13% of buyers negotiated more than 10% off the list price last year.
  • In 2005, almost one out of four buyers (22%) paid more than full price for their homes.
  • In 2005, only 9% of buyers negotiated more than 5% off of the list price of the home they purchased.