Six percent below list price seems fairly normal in this market, but it really does depend on the neighborhood, supply and demand, and several other factors. Several years ago, the average sales price was about 98-99% of asking price, but these days it does seem to be closer to 96% and lower. Any offer is the start of a conversation. It also depends on the seller. Some sellers are ready to sell no matter what while others can be stubborn and demand to get a certain amount out of the house regardless of what the market is telling them. Submitting an offer will start to the conversation. You'll get a response that will tell you what you're dealing with and you'll have a good idea for where could come to agreement. The appraisal will ensure that you aren't overpaying for the house. Good luck!