In Real Estate the Listing Price (also known as asking price) is defined as the price a homeowner is asking for the sale of his/her property. The List Price may or may not be the same as the actual Sale Price. The Sale Price is the negotiated and executed price between the homeowner and the home buyer.
The chart below compares the average listing price to the average sold price of homes in Camarillo between September 2009-September 2010. The chart displays the Sale Price as a percentage of the Listing Price segmented by how long the property was on the market.
Source: Ventura County MLS
The chart above indicates that Camarillo home sellers were able to sell their home very close to their actual asking price. This means that Camarillo home sellers have priced their homes reasonably close to the current market price and that Camarillo home buyers were willing to pay nearly all of the home sellers’ asking price.
Another important relationship that the chart above demonstrates is the correlation between the asking price and the days a Camarillo home stays on the market. The farther a homeowner prices a home from the market comparable, the longer that home will sit unsold on the market. However, the data above could indicate the influences of time associated with a completion of a short sales. By principal, a short sale takes longer to complete than traditional and bank owned/REO sales.
In today’s Camarillo real estate market where traditional home sellers have to compete with bank owned and short sale sell prices, it is very crucial that Camarillo homeowners seek the advice of an experienced Realtor®.
Remember, a Home is only worth what one is willing to pay for it.
[...] The Highest sold price in Camarillo during the month of October is located in the Las Posas Estate area of Camarillo. The 5164 square feet, 5 bedroom, 4bathroom home on a 50965 sqft property is located on Menta Lane. The home on Menta Lane was listed for sale in March of 2010 for $1,598,000. The sellers then re-listed the home in late August for $1,575,000 however, after being on the market for 30 days the sellers accepted an offer at $1,540,000. Once again, this is a great example that shows the difference between the selling price and asking price. [...]