Home Buyers - Be Careful Using This Statistic ⚠️

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The “Sold to Ask Ratio”, is the percentage of the sale price compared to the original asking price. While useful for studying how a market is performing as a whole, is not an accurate reflection of a home's true value because not all homes are listed at the same price relative to the competition.

For example, let’s say you have two homes next door to each other that are the identical models, same square footage, same lot size and same upgrades. Once is listed for 600,000 while the other one is listed for 650,000.

Now let’s say the house listed for 600k sells in a day for 590k.

However what if the average sold to ask ratio in your market is currently 98%? Does that mean 637k is a good price to pay for the other home?

My guess is you’ll say NO because you know the identical neighbor just sold for 590k… And that my savvy home buyers is the comparison method, a much better tool for determining price.

Do you think the average Sold to Asking Price is a good indicator of what a house should sell for? Let me know!

Have a question about real estate? Send me a message or schedule a consultation callback through calendly to get started!

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????????‍♂️ WHO AM I?
I’m Jeff O’Leary, the creator of The Village Guru™ and Realtor® with Better Homes & Gardens Atchley Properties with offices in Sarasota FL & Lakewood Ranch FL. With over 15 years experience buying & selling real estate, I have achieved multiple top sales awards & have worked with clients from all over the world. ????

My goal is to provide useful and interesting content that helps buyers and sellers navigate the real estate process. Looking to start the process of buying or selling a home? Contact us today to get started!

Jeffrey O'Leary, Realtor
Better Homes and Gardens Real Estate Atchley Properties
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