Home Buying in Thousand Oaks>Question Details

Diana S., Home Buyer in Moorpark, CA

For a house in the $600-700k listing range, what percentage lower are the sales coming in at?

Asked by Diana S., Moorpark, CA Sun Dec 16, 2012

In other words, if a house is listed for $650,000, is it likely to sell at $585,000 which represents 10% less. Only 5% less? 15% less? I just need a ballpark as I know this all depends on how realistically the list price is in the first place.

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5
Dot Chance’s answer
Diana,

As a general rule, homes sell for between 3 and 5% up or down from the list price. It is doubtful you could could 10%-15% less. The best thing to do is to make an educated offer by studying the comps. Our prices have been moving upwards and not down because we have very low inventory.

I hope you find the home of your dreams and have a smooth transition from Texas to Cali!

Best,
Dot
DRE #01494182
0 votes Thank Flag Link Sun Dec 16, 2012
Stats for the 23 Homes that have SOLD in Thousand Oaks, with a list price between $600-700K are as follows:

Average Listing Price: = $660,350
Average SqFt = 2525

Average Listing Pr/SqFt = $269
Average DOM/CDOM = 88/107
Average Final Sale $ price: = $650,017
Average Selling Pr/SqFt = $265

So, plan on a final sales price at 97-99% of list price. There is a serious lack of inventory right now in this area. Plan on multiple offers for premium properties in turn-key condition. I hope this is useful information.
1 vote Thank Flag Link Sun Dec 16, 2012
2% of list price in the Conejo Valley area
0 votes Thank Flag Link Thu Mar 7, 2013
Hi Diana, every area in its own city has its own selling price range. One must pick the area, then do a market analysis and calculate the listed vs the sell price for each house sold. A percentage can then be calculated for the difference in sales price drop for each home and then for the area.
Hope this answered your concern.
Sincerely,
John
0 votes Thank Flag Link Sun Jan 20, 2013
You can pull up average statistics, but each deal needs to be evaluated on its own. What is the owner's equity position? Emotional attachment to the house? How motivated are they to sell? Is it priced right, low, or high? These are just some of the things your agent/broker should find out to determine the best price you can get the property for.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Mon Dec 17, 2012
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