Our team has been having great success in securing some impressive deals for our buyers. I have been reporting that our inventory has increased dramatically this summer and that we haven’t seen this many properties for sale for over 3 years. Consequently, we are seeing that there are some good deals out there.
Frisco Townhome
-8.3% below list price; -17% below original list price
Our buyers from Tennessee bought 70 Hawn Drive. This property did need a lot of work, but was in a great location in Frisco, had a garage, nice outdoor space and three bedrooms. The list price started out at $1.1m in August of 2024, was price reduced to $995,000 and we closed at $912,500. That was an 8.3% discount off of list price and a 17% discount off of the original list price.
Given that September list to sale ratio in Summit is 97.8%, or 2.2% off of list price, we were able to get a substantial discount for these buyers. They plan on fixing it up themselves and adding huge value to the property. With a sale PPSF of $542 and Frisco average sold PPSF of $798 – this is discount of 32% off the average pricing per square foot!
Dillon Property:
-6.3% below list price; -13.2% below original list price
We are currently under contract on a property that will close this month. We have secured the purchase price at 6.3% below the final list price and 13.2% below the original list price. This property came on the market in May, and we got it under contact in September. We can provide more details on this after the property closes.
Blue River Property:
-23% off sale price in 2021
We are also currently under contract on a property that will close in October. Our buyers are purchasing it for 23% below the price the Seller paid in 2021.
These discounts are a combination of a slowing market, motivated Sellers, and original list price perhaps being too aggressive. While we can’t guarantee these levels of discounts on all properties, we are seeing that there are deals out there.