Boise Homes: How Much Should You Offer?
Buyers often ask me how much they can knock off the asking price when making an offer.
It’s probably less than you think it is.
Here’s a breakdown that compares median sales prices to median asking prices, including the percentage differences.
Under $200,000
- Median Asking Price: $132,000
- Median Sales Price: $131,000
- % of Asking Price: 99.24%
$200,000 to $299,999
- Median Asking Price: $243,400
- Median Sales Price: $239,000
- % of Asking Price: 98.19%
$300,000 to $399,999
- Median Asking Price: 339,000
- Median Sales Price: $335,000
- % of Asking Price: 98.82%
$400,000 to $499,999
- Median Asking Price: $439,975
- Median Sales Price: $439,515
- % of Asking Price: 99.90%
$500,000 and above
- Median Asking Price: $594,900
- Median Sales Price: $575,000
- % of Asking Price: 96.65%
Overall
- Median Asking Price: $162,737
- Median Sales Price: $160,000
- % of Asking Price: 98.32%
Data pertains to YTD closed Ada County single-family homes on lot/acreage. Data does not include condo or townhome properties.
July 17th, 2012 Posted in Boise Market Stats
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2 Responses to “Boise Homes: How Much Should You Offer?”
By Chris G on Jul 17, 2012
Great post! Really puts data against assumptions or gut feel.
I don’t suppose you have individual xaction data, so you could get an average discount (or premium) that each house gets? (e.g. 3 houses, offer/close at $100K/95K=5%; $150K/135K=15%; 200K/200K=0%; avg=6.7% discount)
By philhoov on Jul 17, 2012
Hi Chris ~
Unfortunately, there is no way to extract that level of data from our MLS.
Thx.
Phil