I would use recent price results to avoid starting too high or too soft
If you are wondering how aggressive your first offer needs to be, I would avoid extremes. In Botetourt County, VA, recent accepted offers averaged 96% of asking last month, which tells me many negotiations are still landing with some room below list price.
Homes in Botetourt County, VA closed at about 96% of asking over the previous 30 days. A typical sold price was $385,000, and a typical active asking price was $399,900. Supply remained limited at 1.97 months, which keeps pressure in the market, but not at a level that erases negotiation. For a buyer, the implication is clear. Opening too soft can waste time on a strong home, while opening too high can remove flexibility you did not need to give away. My read is that the right first offer should reflect the specific home and the recent closing pattern, not a blanket rule. I would set your ceiling before the first draft is written. I would also compare the home's ask to the recent $385,000 closing level and the 96% outcome pattern before deciding how much to stretch. The first move should be informed, not emotional.
About Scott Fogleman
Scott Fogleman is a licensed Real Estate Professional affiliated with New Home Team, specializing in the Botetourt County market. With a focus on strategic marketing and deep local knowledge, Scott Fogleman provides clients with expert guidance in navigating complex real estate transactions. View full profile →
