Raleigh area buyers - the list price is just a thought!

The list price really doesn't mean too much these days. Its a starting point. It gives you an idea of how much the seller would like to sell for, but it doesn't really mean that much anymore.

Lets face it with 18 months of inventory buyers can afford to shop around for the best value. With multiple homes in a neighborhood buyers can make offers on multiple properties until an offer is accepted.

Everyday I examine my "Hot Sheet" (data collected from the Triangle MLS with closed sales, new listings, pending sales, expired sales and change of price) and noticed a few things.

Not that long ago in the Raleigh area sellers were able to receive 97%-100% of their asking price. Even when other parts of the country where experiencing soft markets Raleigh area sellers were still able to receive close to list price. Today buyers are being aggressive. The few buyers that are in the market for a home realize they have buying power.

Today I noticed 3 homes closed on Trades.

1 home was listed at $849,000 and sold for $750,000 (Inside the Beltline)

It doesn't matter the price range see a few examples from closing reported on 1/2/2009 these sales are new and resales throughtout Raleigh, Cary and Wake Forest. This information is not scientific I haven't analyzed it, I did not pick out specific sales just random sales to point out the trends I am noticing and experiencing.

List Price Sales Price $ Difference %

$849,000 $750,000 $99,000 11.66

$449,000 $400,000 $49,000 10.9

$349,900 $325,500 $24.,400 6.9

$324,225 $278,550 $48,675 15%

$114,900 $100,000 $14,900 12.9%

$99,000 $93,000 $6,000 6%

$134,500 $121,500 $13,000 9.66%

The numbers do not lie. We Are In a SERIOUS Buyers Market and Interest Rates are at historical lowes. To search for all Raleigh Area Real Estate visit www.NCListforLessRealty.com.

If you find a home don't hesitate to make an offer!