Ajz,

Trulia does provide some information http://www.trulia.com/real_estate/48009-Birmingham/ please read their disclaimers about accuracy. Keep in mind, Trulia may include sheriff auctions and other recordings as "sales" even though the property will not actually sell for that amount. All information on any particular property of interest must be independently verified by the buyer.

As indicated by Kay, this is very generalized and will vary by home even within a neighborhood. Most home sellers finally understand they must aggressively price their homes to compete with "short sales" and foreclosures.

Buyer's failing to understand for most homes price negotiations have been removed to receive multiple offers risk loosing a home to a more informed or more serious buyer. One agents buyer in my office lost when the home sold for $10,000 more than asking price. I do not provide this information to get you to pay more for a home. Facts are facts, and this spring the market has changed!

If you are serious about purchasing, I suggest interviewing several Buyer's Agents (anyone except the listing agent for the home you purchase). A Buyer's Agent can obtain this number for similar homes sold in the neighborhood.

Ajz,

I started to do the research for you and stopped, as I don't think that reviewing averages is the approach buyer's should take to make decisions.

Hopefully you have a Realtor who is representing you and reviewing the list verses sales data of each home that you consider writing an offer on.

If we just provide you the average for the overall Birmingham market, I am afraid it could cause you harm. Each price bracket in every neighborhood and area will have a different result. I suggest you look at every home individually with less emphasis on list price and what percentage less you should purchase. As you may notice, the list prices vary so much depending on the seller.

Just two days ago my partner had a buyer lose an opportunity to make a spectacular buy because he felt he needed to be a percentage lower than the list price. Bad move since the list price was far less than market value that another buyer was capable of recoginizing, realized the value was higher than the list price and offered such.

Consult with a professional who can provide you accurate information so that you can make the best possible decisions.

Happy house hunting!

Kay Pearson, CRS
Associate Broker
Real Estate One - Max Broock
31 S. Main Street
Clarkston, Michigan 48346
248-860-0366
kaypearson@maxbroock.com

There is such a wide range. Short sales are selling about 20% under the mortgage amount. Foreclosures are selling sometimes well over asking price. Homes that come on the market priced well are selling close to asking price. Homes that have been on the market for a long time are selling for well under asking.