John, Home Buyer in Baltimore, MD

At what percentage of the list price are homes selling for in the new market area?

Asked by John, Baltimore, MD Tue Jan 8, 2008

Both townhomes and single family homes.

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Answers

2
Hi John,

The market stats shared in the previous post are indicative of what is happening in the Frederick county area and Jennifer did a great job in sharing them with you

There are 2 key things that you may also want to consider...

1. Those stats are generalized to the area and certain subdivisions, locations, and types of properties within a broad area can see very different types of numbers when it comes to things such as List vs. Sales price, appreciation or depreciation, etc. So if you are just looking to get a feel of what is happening in a broad area then those numbers should suffice to answer your question. Of course you would need to be more specific if you want to know what is going on in a certain neighborhood, certain house, or any other type of subset of the broader Frederick County or New Market area.

2. The average list vs. sales price is just that... an average. This does not factor in the most important thing to consider- if you are thinking of making an offer or if you are thinking of selling a home. The factor I mention is above is this... How well is the subject property priced compared to the rest of the market. IF the property is priced well the List vs. Sales price will be tighter and if improperly priced it will be looser! The big question is...Did the agent do a thorough and complete CMA when conuseling the seller on setting the list price, and did the Seller listen!!! This could dramatically affect what a buyer would or should pay and therefore List vs. Sales price percentages will be majorly different for homes that were priced well!

John, you may have just been looking for general info and I hope that the info provided in the Jennifers post has taken care of you in that regard. If on the other hand you are thinking of buying or selling make sure that your agent does their homework- in detail and based on the neighborhood in question- before counseling you on making any buying or selling decisions

Hope you have a great day! If I can be of further service please don't hesitate to ask! If you'd like to get the market details for a specifc neighborhood just let me know and I will send them to you by email!
0 votes Thank Flag Link Fri Jan 23, 2009
Hi John -
Based on Statistics from MRIS for the past 6 months the average % of list price that homes are selling for is 95.31 and the average % of original price is 91.79. I live in the New Market area and can tell you that there are many homes that I would consider a great deal on the market currently.
0 votes Thank Flag Link Wed Jan 9, 2008
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