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How much below asking prices are houses ACTUALLY selling for?

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  • 27-11-2009 2:36pm
    #1
    TheCityManager
    Registered Users Posts: 186 ✭✭


    In other words....houses advertised at say 300k in Dublin North..does anyone know how much on average these are selling for? or does in depend on location and demand as usual?
    I'm kinda assuming they are going for about 30k less?

    recently sold my mum's house..advertised at 375k, reduced to 355k, sold at 310K...I wonder is this the exception rather than the rule?


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    #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    Selling for eactly 5.5/8 of the asking price!

    Seriously there is so many fators that no one could ever give a straight answer


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    #3
    am i bovvered
    Registered Users Posts: 1,102 ✭✭✭am i bovvered


    TheCityManager wrote: »
    In other words....houses advertised at say 300k in Dublin North..does anyone know how much on average these are selling for? or does in depend on location and demand as usual?
    I'm kinda assuming they are going for about 30k less?

    recently sold my mum's house..advertised at 375k, reduced to 355k, sold at 310K...I wonder is this the exception rather than the rule?

    Good Luck trying to start a thread that contains only the facts on "Accommodation & Property"...
    this was a good thread http://www.boards.ie/vbulletin/showthread.php?t=2055620650 but of course it ends up with the usual 2 extremes "debating" the usual arguments.


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    #4
    Freddie59
    Closed Accounts Posts: 6,679 ✭✭✭Freddie59


    TheCityManager wrote: »
    In other words....houses advertised at say 300k in Dublin North..does anyone know how much on average these are selling for? or does in depend on location and demand as usual?
    I'm kinda assuming they are going for about 30k less?

    recently sold my mum's house..advertised at 375k, reduced to 355k, sold at 310K...I wonder is this the exception rather than the rule?

    I think I read either here or on some other site that the average at the moment (in successful sales) is somewhere between 10 and 20% (this was from a straw poll of people who had bought). Now, given the vendor's circumstances, and how anxious they are to sell the house, that could be a lot more.

    For example, we bought in August. 100-home estate in a nice area. Three houses for sale. One st €299k; one at €287k; and one (which we bought) at €195k. It was in as good a condition as the others (better than one), and was being sold as an executor sale. We eventually settled for €175k. When we sold our old home 12 months ago we had in on at €265k for three months. Dropped it to €250k, then settled for €237k a month later.

    So, all in all, you did very well IMHO. Interesting that both were executor sales. Co-incidentally, the one that was on at €299k was reduced to €215k, then €198k, and has now gone sale agreed.


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    #5
    fletch
    Registered Users Posts: 7,398 ✭✭✭fletch


    Is the same applying to new houses....it doesn't seem to be when I put in offers.


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    #6
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    Executor sales always seem to go for lower offers because you generally have people on a will wanting cash asap.


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    #7
    irishguy
    Registered Users Posts: 3,299 ✭✭✭irishguy


    Was said agreed on two houses recently (dont ask). One about 45% under peak asking price the other about 54% under peak. Both back to what they were in 2000. Both located quite close to Dublin city centre.


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    #8
    Grawns
    Registered Users Posts: 2,169 ✭✭✭Grawns


    I know of a house sale agreed in dublin 3 that was for sale at €600,000 but sold for €500,000. Wasn't on the market that long either. Heard it from the next door neighbours, friends of mine. I would expect to offer 10-20% below asking price if I were buying at the moment.

    A renters life for me - for a few years :)


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