Are Home Sellers Getting Asking Price In Fort Collins?
In real estate, we say a property went for the “asking price” if it sells for the price they had listed.
In my opinion, given that it sells in a period of time the seller expected, this is a great success, because we priced the property for a value which someone was happy to pay.
Or as Andy Dwyer (see The Office, NBC) might say, “Nailed it.”
Over Asking Price
Properties that are very desirable will often go for more than the list price, and sellers may have the luxury of choosing from numerous offers in these cases.
All homes have not been established equally, even if they are in the same neighborhood. Over asking can be a product of inventory, desirability of the property, or a number of other factors.
Though it seems like it should be rare, we are still seeing this happen. it really depends on the property, the strategy(or lack thereof) that the sellers and Realtors® decided to employ, and how close to the actual value the buyers think the property is on sale for.
Receiving below asking on homes for sale in Fort Collins is not always a tragedy. The seller may have decided to list for the tippy top ‘hopeful’ price they’d hope to get, and are happy with below asking.
Hover over or tap anywhere on the chart for TIME SPECIFIC data for each price point!
$250,000 – $349,999
At this price point, I expected it to be a strong 100% of list price all the way. However, as you can see, especially as of late, offers are coming in and being accepted below asking price. NOT MUCH below, but some are coming below.
*Hypothesis/’Thinking out loud’ – Perhaps sellers have been consistently pricing aggressively, and the market isn’t having it.
$350,000 – $450,999
This is where, as of mid-2015, the line goes to and stays at 100%. It’s important to note that when calculating for the median, 100% is as high as it goes, simply because that’s how the science of statistics works. Figuring for the median, according to the parameters InfoSparks no such thing as more than 100% when figuring it this way.
$650,000 – $750,999
Higher price points often means a smaller pool of buyers. This metric has been below 100% for the whole time period of this chart. Bigger numbers allow for a bit more wiggle room, and this wiggle room has been consistently going toward the buyers of real estate and property in Fort Collins.
$850,000 – $950,999
And even lower still we go, but still it’s only a few clicks below 100%. Sellers of these homes, often luxury pads or properties with larger swaths of land, are still receiving 96.8% of what they listed their property for, so even though it’s below 100%, it’s not necessarily groundbreaking.
The InfoSparks chart is a LIVE CHART, which updates every month so the data surrounding it in this blog post may cease to reflect what is happening as the situation and data changes. Check post publish date, or contact Paul with questions.
Realtor® Paul Wozniak
Realtor® | Associate Broker | RE/MAX Alliance Fort Collins
Realtor® Paul Wozniak serves in Colorado, helping people buy and sell residential real estate, land and commercial property.
Paul specializes in communication and helping his clients make sound decisions with regards to real estate.