The statistic average discount to asking price gives meaning generally to where the market is trading, but is irrelevant property to property. When buyer clients ask me what the actual number of that stat. is, I answer with a big asterisk at the end because once a buyer has that stat. in their head, it distorts their thinking of what market value is for each property. Once I tell the buyer that stat., I can literally see her going through our list of properties and calculating what 7% (or whatever the number may be at the time) off of the list price is. But, average discount to asking price means nothing per specific properties. Some properties sell for 80% of their list and others sell for 110%. The market will dictate the value, not a statistic. Take 5 Wigwam Road and 5 North Liberty Street. 5 Wigwam Road just closed for 100% of list and 5 North Liberty Street just closed for 77% of list. So, take that stat. with a grain of sand.
I’m Not Getting A 7% Discount On My Nantucket Buy?
