With valuations on the rise, buyers are paying closer to asking prices.
Despite the economic downturn, small businesses on the market are selling for more than they did a year ago, according BizBuySell.com.
The median sale price for small businesses sold over the second quarter was $200,000, up from $186,000 for the same period last year, the San Francisco-based online business marketplace reported this week.
At the same time, median asking prices rose by just $5,000 to $255,000, meaning buyers were paying closer to asking prices in recent months, the report said.
Some 2,098 small businesses were sold over the second quarter, according to the report, which is based on a survey of more than 40,000 business-for-sale listings.