A sensible offer starts with the home you're considering, not a townwide price alone. I want to help you weigh its value carefully while keeping the maximum price you are comfortable offering clear.
The latest market report covers Babylon single-family homes, condos, townhouses and apartments. The typical sale price was $735,000, providing a reference for completed sales rather than a suggested offer. Homes sold for an average of 101.8% of their asking prices. Reported housing supply, measured in months, was 2.33.
The average percentage of asking price that homes sold for cannot set your personal offer limit. I would give recent sales of similar homes more weight when assessing a particular property's asking price. An offer also needs financing and inspection requirements that match the risks you are prepared to accept.
Review differences in size, condition and features with me before settling on a reasonable offer range. Ask your lender to explain the payment and money needed at closing for the price you're considering. Decide which financing and inspection protections you need before changing the conditions in the offer.
