Room to Negotiate?
How much of a discount off of the asking price can you expect when purchasing a home in Tampa? An analysis of Hillsborough County residential sales data reveals that the answer has remained constant: 6%.
Homes that are priced correctly from the start can expect to sell within 45 days; while homes that are initially listed with unrealistic prices must undergo price reductions before eventually selling for 94% of the final asking price. Contrary to the pervasive pessimism and rampant fear mongering in the media, Tampa Bay home buyers are recognizing solid vales and are buying homes everyday.
The chart below shows the SOLD-vs-LIST PRICE (blue line) and the AVERAGE DAYS ON MARKET (bar) for recent months as calculated from Tampa Multiple Listing Service (MLS) data by Trendgraphix.
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