Start with the home, not a fixed percentage above or below asking. Your offer deserves a closer look than a townwide rule, and I'll help you separate useful price context from what fits your purchase.
The latest market report covers Victoria single-family homes, condos, townhouses, and apartments. The typical sale price was $639,950. Homes sold for an average of 100.1% of their asking prices. Reported housing supply, measured in months, was 2.38.
Those townwide figures provide context, but they don't establish what the particular home you want is worth. The average percentage of asking price that homes sold for does not tell you whether this home's asking price is reasonable. I would weigh similar completed sales and your budget before deciding whether to offer above or below asking.
Review recent sales of similar homes with me, comparing size, condition, and features to assess the asking price. Confirm your financing costs and the money needed at closing with your lender before setting the maximum price you are comfortable offering. Decide which financing or inspection requirements you need so your price decision does not overshadow important protections.
