A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

For Buyers And Sellers.

May 23, 2011

It’s only May.

But I have heard, on numerous occasions since the first of the year, this similar comment from local real estate Sellers:

“We want to sell this summer!”

On the Buyers side there is another frequent comment.  It’s an understandable concern about how to approach a Seller.  The common Buyer question is:

“How do I know what price to offer a Seller?”

In an attempt to encourage a dialogue… here’s a bit of information that both parties may find useful.

To this date, in 2011, our local real estate market, overall, has produced 281 completed transactions.  Of that group the final selling price was, on average, 78.8% of the original asking price and 87.8% of the most recent asking price.

Of course, each transaction is unique.  Those numbers may not apply to all Buyer and Seller needs.

I have additional details.  Please send me a note.

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