Cowlitz Real Estate Market Asking VS. Selling Price.
What is the difference between asking price and selling price in the local market? In the pas two weeks I have been asked this question at least four time. My answer of course always is that it varies by community, neighborhood, price range, and type of sale. On average the Cowlitz County real estate market sells for about 96 percent of asking price, one thing that I have notice and I believe is worth mention is that foreclosure listings sell for higher percent than traditional listings.
Bank own homes are usually price aggressively and as a result they sell for closer to asking price most of the time, on average foreclosure homes sell for about 97 percent of asking price. Traditional sellers on the other hand, usually, over price their listings and end up chasing the market down and as a result end up selling for lower percent than foreclosures, on average traditional listings sell for about 94 percent of asking price.
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