More Than Half of Homes Sold at a Discount

DAILY REAL ESTATE NEWS | TUESDAY, JULY 14, 2015

Prices may be on the rise, but about 63 percent of homes sold at a discount compared to the list price in May, according to the 2015 REALTORS® Confidence Index Survey. The discount averaged in the 1 to 11 percent range.

Read more: REALTORS® Stay Upbeat in Market Outlook

The longer a property lingers on the market, it becomes more likely the home will end up selling at a discount. Eighty-four percent of homes that sold after 12 months were sold at a discount. On the other hand, 24 percent of homes that sold within a month sold at a premium.

Staging a home may help a listing to fetch more, according to the National Association of REALTORS®' 2015 Profile of Home Staging. The survey found that 32 percent of buyers' agents say that staged homes increases the dollar value a home buyer is willing to offer by one to five percent.

Source: "Despite Rising Prices, 63 Percent of Properties Sold at Discount in May 2015," National Association of REALTORS® Economists' Outlook blog (July 13, 2015)