Set expectations using how close deals have been closing to asking.
You are deciding how much room you have to negotiate because you do not want to price too low or hold too firm. My answer expect the typical deal to land slightly under asking, then negotiate based on your home's specific strengths. In Phoenix, AZ, recent closed deals landed at about 97.43% of asking last month.
One number to respect from recent data is the typical landing spot in Phoenix, AZ, recent closed deals came in at about 97.43% of asking last month. Typical sold price was $430,000 last month, and a typical sale took 51 days last month. The practical impact is you can plan for negotiation without fearing it. Some metrics were not reported for this period. When the market's average deal is not at full asking, sellers who bake a small negotiation margin into their plan tend to stay calmer and make better decisions when an offer shows up. Set your list price with the expectation that the final number may be modestly below asking, then decide in advance what concessions you will not make. When an offer arrives, compare it to the 97.43% benchmark before you react emotionally. If you want to defend your number, support it with a clean home presentation and easy showing access so buyers feel less reason to push back.
About Jeff Setlow
Jeff Setlow is a licensed Real Estate Professional affiliated with Exp Realty, specializing in the Phoenix market. With a focus on strategic marketing and deep local knowledge, Jeff Setlow provides clients with expert guidance in navigating complex real estate transactions. View full profile →
