What did this Lagos detached home sell for?

C

cooksAndPine

Homeowner
The seller’s position starts at NGN 1,054,000,000, but I’m hesitant to treat that as a strong guide with only one completed sale available nearby.

This Lagos detached home has two bedrooms, 70 m² of stated floor area and average condition. It remained on the market for 57 days. Guess the eventual sale price and name the two details carrying the most weight in your estimate. If the missing neighbourhood or plot size prevents a firm number, give a conditional guess rather than skipping it.
 
NGN 948,600,000. My two factors are the 57 days on market, which leaves room for negotiation, and the average condition, which gives a buyer an obvious argument against paying the full ask.
 
NGN 1,012,000,000. I’m weighting the asking price heavily and treating 57 days as insufficient by itself to imply a major discount. But is the 70 m² the internal floor area only? For a detached home, the missing plot size and Lagos neighbourhood could completely change the reasoning.
 
NGN 1,035,000,000. I disagree that 57 days automatically points to much bargaining power; without comparable local supply, it is just an elapsed period. My two usable facts are the very specific asking price and the small 70 m² floor area, which may mean the value lies outside the building itself.
 
Nadia’s point about value outside the building is why I’m not very confident in my estimate. If 70 m² describes only the home and not the land, floor area is a weak guide here. The detached classification matters, but without plot details we cannot tell how much.
 
One correction to my own logic: “average condition” should not be treated as if the place needs major work. I allowed a modest reduction for it, but a large condition discount would be reading more into the description than we were given.
 
Fair correction, although average condition still gives the buyer something to negotiate over at this price. I also would not add assumed transaction fees to the sale figure. Unless the game explicitly includes them, the clean comparison is agreed property price against asking price.
 
NGN 875,000,000. My two facts are 70 m² and only 2 bedrooms. Even allowing for the detached format, that is limited accommodation for an asking price above one billion naira, so I’m expecting a substantial gap.
 
The weakness in my guess is the land question Giulia raised. A compact two-bedroom building could still sit on a valuable plot. It would also help to know whether there were any price reductions during those 57 days; time on market after a reduction means something different from 57 days at the original ask.
 
Good spread of estimates. The missing neighbourhood, plot area and price-reduction history are clearly doing more work than I expected. For consistency, the guesses should be compared with the completed sale price itself, without adding imagined fees. Also, nobody should infer “poor condition” from “average condition”; Giulia’s correction is right.
 
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