Average List Price vs. Average Sale Price

When setting the listing price for your property you should be aware of buyers' ways of thinking.  If you set your price to high your property may not have very many showings, even if it is one of the nicer properties in the neighborhood.  Buyers are looking for the "best bang for their buck" and if other houses are listed at or around fair market value they will most like be more attractive than your property.  On the other hand you also don't want to list your house too low either.  Listing your home too low will allow it to sell faster but you will make less than if you would have listed it at market value and waited for someone willing to pay that much.  There are several things to consider when listing your house including but not limited to getting a comparative market analysis to see what previous houses have sold for and what is currently on the market in your area.

We have put together some graphs for the Smoky Mountain area comparing the average list price vs average sale price for the years 2008 - 2011.  In the last 3 years there were only 2 months where the sale price was below 90% of the listing price.  Both of those months it was 86% of the listing price.  The average sale price/list price ratio in the Smoky Mountains is 94% of the listing price.  Here are a couple different representations of List Price vs Sale Price.