Bobbie Poled…, Home Buyer in Westlake Village, CA

average difference between asking and sale price

Asked by Bobbie Poledouris, Westlake Village, CA Sat Oct 9, 2010

Help the community by answering this question:


Anna M Brocco’s answer
Keep in mind that the factors that will determine the difference between asking and sold price will vary by--location, condition, property size, schools, how well was the property priced to begin with, etc.--if you are interested in making an offer, do ask your agent for comps--recently sold similar properties in the immediate area--review the data and make a determination as to a fair offer.
0 votes Thank Flag Link Sun Oct 10, 2010
In my 20 years of experience as a Realtor and Appraiser, I have found that the current market has no average that you can use from neighborhood to neighborhood. The homes that are ready to move in, and priced "to attract interest" will sell for more than asking.

And with today's on line data, dozens of buyers are watching each new listing carefully. The homes that are priced "Old School", a little bit above their market value, may take 30-60 days or more to find a buyer and close. Can you afford to wait that long, to sell? The smart sellers are taking their agent's advise, hitting the market strong with a lean competitive price, & spending their next week-end, with several offers at market value, or higher, deciding which offer to accept.

My experience as an appraiser has been enormously helpful to clients, as we evaluate the market and its future trending. James Ebert
0 votes Thank Flag Link Wed Sep 24, 2014
This will depend on many factors so it would be best to speak with a local agent. The list to sale price comes in 2 forms, original list to sale price and reduced list price to sale price.
0 votes Thank Flag Link Mon Apr 28, 2014
Lately, I've been seeing most offers coming in OVER asking price. Not much over, but those who have been offering asking price have been mostly cash. It varies and it will change!
0 votes Thank Flag Link Sun Apr 27, 2014
As Anna Brocco mentioned, it does depend on a lot of factors such as the condition of the property, the comparable sales in the neighborhood and how long the property has been sitting on the market. For the past three years I do know that homes in Thousand Oaks, Westlake Village and Agoura Hills have been selling, on average, about 95% to 97% of list price. Because we are in a market where inventory is so low and demand is so high, a lot of homes are selling for over the list price.
0 votes Thank Flag Link Wed Jun 5, 2013
There are a variety of approaches to pricing homes but in the end most homes sell near the reasonable market value if it is a true arms length transaction. When sellers overprice their home it just takes them longer to get to the true market value and a sale.

Even the distressed sales are ending up close to true market value as the banks move to 2-3 valuations of each property.
0 votes Thank Flag Link Sun Oct 10, 2010
Hello Bobbie-
Golly -gee ...... is that a hard question to answer. It really depends on the property and its reason for being
on the market to begin with. Is the seller moving because of job transfer and does not care if the sale price
is lower than the asking price since the corporation will by the home if he cannot sell it. Is the seller trying
to close on another property, and does not want to lose that property so he will discount it far more than

For example, in Hidden Valley, a home was discounted 70,000. from the asking price even when we
only had it on the market for 2 days because the seller was getting a $110,000 discount on the other
end and he thought it was worth discounting it by thousands.

Rule of thumb though Bobbie, don't go into purchasing a home by thinking your first offer is going to
be your last. Decide which price point you can feel comfortable opening a contract with, and stick
to it.

Please let me know if I can be of further service. We do give our customers 25% back at the close of any sale In Ventura County based on the buyers commission, We will also advise you if you are offering too much or too little when bidding on a home for sale. Check our our website for more information on our Company.

Happy house hunting
Ray Komar
0 votes Thank Flag Link Sat Oct 9, 2010
Hello Bobbie,

During the last 90 days the average asking vs sales price difference in Westlake Village has been at 97.6% for single family homes and 95.37% for attached homes. This puts all properties into one bundle and doesn't take into consideration location, condition, or whether or not the homes were short sales or bank-owned. I hope this helps. If you need assistance setting a price for the sale of your home or in making an offer and are not already working with a Realtor please call me. I am certain you already know this is not an easy process to navigate. I'll leave my site information for you. I am a certified Luxury Home professional who would love to work for you!
Web Reference:
0 votes Thank Flag Link Sat Oct 9, 2010
Hi Bobbie,

It really depends on the size, type, location (on the water?), and price point. For instance, using this criteria:
Property Type: Residential
Include Property Subtype: Single Family Dwell Area: Westlake Village VC
Status Sold (4/12/2010 or after)
Price: 500,000 to 1,000,000
... the results are as follows:
Quick Stats - Averages >>>
Residential (106) Listing price: $773,877, Ave. size: 2378sf, Average Listing price per sf: $336/sf, Days on Market 86/98, Selling Price: $747,339, Average Selling price per sf: $324/sf...

I hope this helps. I will be happy to send you more specific stats over a two or 3 year period, in the form of a customized report
0 votes Thank Flag Link Sat Oct 9, 2010
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