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Whats wrong with this graph?


By REpro   Follow   Tue, 26 Feb 2013, 2:01pm PST   621 views   10 comments
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Over approximately last 8 months bidding war cause % Sale to List ratio lifted over 102-103%.
The graph is showing listing price vs. actual sold, discounted by about 17% (450 vs. 366). Even taking in account lag 30-45 days to closing is still not working.

http://www.redfin.com/county/345/CA/Santa-Clara-County
Santa Clara County Market Trends; check; listing $/SqFt and Sold $/SqFt

Comments 1-10 of 10     Last »

E-man   Tue, 26 Feb 2013, 2:58pm PST   Share   Quote   Permalink   Like   Dislike     Comment 1

Can you PDF it and put an image on here? I can't see the graph from my iPad. Thx.

REpro   Tue, 26 Feb 2013, 3:03pm PST   Share   Quote   Permalink   Like   Dislike     Comment 2

Can’t print out without distortion.

bg   Tue, 26 Feb 2013, 10:24pm PST   Share   Quote   Permalink   Like   Dislike     Comment 3

I can't get the link to work at all. :-/

The Professor   Tue, 26 Feb 2013, 11:37pm PST   Share   Quote   Permalink   Like   Dislike     Comment 4

What happened to the bidding wars?

The Professor   Wed, 27 Feb 2013, 12:15am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

robertoaribas says

The Professor says

What happened to the bidding wars?

doesn't mean anything about the bidding wars. In phoenix, things listed over $500k, unless they are a spectacular deal, don't get multiple offers immedialy. Under $200K is a different beast.

So you are implying; the expensive houses go cheap and the cheap houses are where the bidding happens, making the average sold price well below the average asking price.

Makes sense to me.

RentingForHalfTheCost   Wed, 27 Feb 2013, 12:24am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 6

The Professor says

What happened to the bidding wars?

More like a listing inflated war. Silly. Hey, I have a condo forsale. The exact same one across from me went last month for $350k. So, I just listed mine for $750K firm. Only accepting cash offers. Also, you must not have any pets and my wife must be prettier than yours.

REpro   Wed, 27 Feb 2013, 1:22am PST   Share   Quote   Permalink   Like   Dislike     Comment 7

donjumpsuit says

Picture

In Santa Clara County by average is 10 offers; property goes in contract with above Listing Price. Why actual Sale is deeply below Listing Price?

REpro   Wed, 27 Feb 2013, 1:41am PST   Share   Quote   Permalink   Like   Dislike     Comment 8

The Professor says

So you are implying; the expensive houses go cheap and the cheap houses are where the bidding happens, making the average sold price well below the average asking price.

Makes sense to me.

With this explanation expensive houses should go well, well below asking (like 50%) to bring average so significantly down.

gregpfielding   Wed, 27 Feb 2013, 1:48am PST   Share   Quote   Permalink   Like   Dislike     Comment 9

The Listing$/Ft must include all active listings where the Sold$/ft only represents actual sold properties.

It would make more sense for the listing$ to only reflect those properties that also sold... but this is the only explanation I can think of.

The high-end isn't as hot as the middle and low ends...

REpro   Wed, 27 Feb 2013, 2:08am PST   Share   Quote   Permalink   Like   Dislike     Comment 10

gregpfielding says

The Listing$/Ft must include all active listings where the Sold$/ft only represents actual sold properties.

It would make more sense for the listing$ to only reflect those properties that also sold... but this is the only explanation I can think of.

The high-end isn't as hot as the middle and low ends...

So listing agent must be dumb to take in listing well overpriced property without a chance to be sold.

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