Set the maximum price you are comfortable offering before you tour seriously. That decision gives you room to consider a home's condition and the terms of an offer without letting urgency set your budget.
For Troy single-family homes and condos, townhouses and apartments, the latest market report puts housing supply, measured in months, at 1.45. Homes sold for an average of 102.52% of their asking prices across those property types. In Troy, the typical time on market for homes that sold was 16 days. The typical sale price for those completed sales was $280,000.
The average percentage of asking price that homes sold for cannot set your personal offer limit; your financing and comfort with the payment matter more. A townwide sale price also cannot tell you what a particular home is worth, especially when condition and features differ. I would prepare your price boundaries and offer conditions together, so a promising home gets a considered response rather than a rushed one.
Ask a lender to review the payment and money you would need at closing at prices you are considering. We can review recent sales of similar homes and discuss differences in size, condition and features before you choose an offer price. Decide which conditions in the offer, such as financing or inspection requirements, you need to keep before discussing any changes.
