Arn Cenedella

How common are sale prices above list prices?

Everyone is aware that the local real estate market has slowed over the past few years.

That being said, multiple offers are still very prevalent as the following data will indicate.

During the first three months of this year 2010:

38.3% of the homes sold and closed in Menlo Park sold at or above list price.

46.5% of the homes sold and closed in Palo Alto sold at or above list price.

51.3% of the homes sold and closed in San Carlos sold at or above list price.

This data indciates that buyers are out looking for property in strong numbers and that they are willing to bid over list price to obtain properties that are well-priced and offer good value.

So, buyers when you see a good value be preapred to go after the property with a strong offer.

I have written 4 offers for buyers in Menlo Park the past two weeks at price ranges from $249,000 to $2,098,000 and in all 4 cases, there were multiple offers on each property.  All of my clients’ offers were strong clean offers from well-qualified buyers. 2 were accepted. 2 were not.

This data should also indicate to sellers that pricing at attractive levels will often lead to buyer competition that will drive sales prices upward.

This entry was posted on Saturday, April 10th, 2010 at 3:55 pm and is filed under Menlo Park Real Estate, Palo Alto Real Estate, San Carlos Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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