A sensible offer starts with the home you want and the maximum price you are comfortable offering. I'll help you separate useful context from assumptions about negotiating room.
For Lithia's single-family homes, condos, townhouses and apartments, the latest market report includes completed-sale pricing and housing supply. Homes sold for an average of 97.1% of their asking prices. The typical sale price was $535,000. Housing supply, measured in months, was 3.29 months.
The average percentage of asking price that homes sold for cannot set your personal offer limit. I would assess recent sales of similar homes before deciding whether the asking price supports the amount you propose. Price matters, but financing and inspection requirements also deserve attention because changing them can expose you to different risks.
Confirm your budget and money needed at closing with your lender before settling on an offer amount. Compare the home's size, condition and features with relevant completed sales, noting questions we should resolve. Review which financing and inspection protections you need before changing the offer conditions.
