Mountaineer

i spoke with several mountain realtors in may 2008 asking this very question. they also told me 95-98% of asking price. i found this a little suspicious so i did an analysis on this by taking sales data from 1/2006 through 5/2008 for all properties above 700K (our price range). i compared INITIAL listing price against final SALE price and found that the average property sold for 83% of initial asking price. the average days on market was approx 240 days.

i am also finding some properties purchased in 2006 listed substantially above their purchase price. my opinion is that prices up here are a bit high and that by september prices will drop as people realize they are going to be stuck with an unsold house another winter.

i heard from an area realtor that about 10 houses sold in arrowhead woods in may 2008. fyi there are about 350 realtors in the area.

i suggest asking your realtor what they think the spread is then asking him/her for the data and doing your own analysis. hopefully the numbers will match. - Sat Jun 14 2008, 01:32