Choose the best terms, not just the highest number
You are trying to decide how to evaluate an offer so you do not accept the wrong one. My answer weigh the likelihood of closing using the typical timeline and how close buyers have been paying to asking in Raleigh, NC.
One number to respect from recent data is this recent offers landed about 97.8% of asking last month in Raleigh, NC, and a typical sale took 41 days. That matters because an offer that cannot close on time is not really an offer. When you know the market has been landing near 97.8% of asking and closings typically take 41 days, you can judge whether a buyer's terms are realistic and whether the deal is likely to hold together. Some metrics were not reported for this period. When you review offers, prioritize the package that is most likely to close within a realistic schedule similar to the 41-day typical pace. Use the 97.8% of asking benchmark to spot outlier pricing that may be a sign of future renegotiation attempts. Set your counter strategy in advance so you are not negotiating from emotion, and keep your bottom line tied to what typical homes have actually sold for, including the $400,000 typical sold price last month.
About Tom Ballman
Tom Ballman is a licensed Real Estate Professional affiliated with Exp Realty, specializing in the Raleigh market. With a focus on strategic marketing and deep local knowledge, Tom Ballman provides clients with expert guidance in navigating complex real estate transactions. View full profile →
