How much below asking price can I offer?
How much below asking price you can offer depends on current market conditions, how long the home has been listed, the property's condition, and comparable recent sales in the area. The most useful number is the median sale to list price ratio for that area, which shows what buyers are actually paying relative to asking right now; in a competitive market homes can draw multiple offers at or above asking. If a property has been sitting for a while or needs work, there's often more room to negotiate. Your offer should reflect what the home is truly worth based on comparable sales, not just what you hope to pay. Jon can help you analyze the data and craft a competitive offer strategy.
Want the current number?
The site assistant can pull recent comparable sales right now from the site's own data feeds and tell you the source and date. It is automated, and Jon reads every conversation that leaves contact details.
More on offers and negotiation
- How do I win in a multiple-offer situation or bidding war?
- What are seller concessions and can the seller pay my closing costs?
- How much earnest money should I put down?
- Should I waive the inspection or appraisal contingency to win?
- How do I make an offer on a house?
- How do I compete with cash and investor offers?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.