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Whats wrong with this graph?

By REpro   Follow   Tue, 26 Feb 2013, 10:01pm   393 views   12 comments
In San Jose CA 95123   Watch (1)   Share   Quote   Permalink   Like   Dislike  

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

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1. E-man Follow Befriend (31) 34 threads 2,608 comments San Jose, CA Premium

   1   10:58pm Tue 26 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected   Can you PDF it and put an image on here? I can't see the graph from my iPad. Thx.

2. REpro Follow Befriend (1) 22 threads 478 comments San Jose, CA

   2   11:03pm Tue 26 Feb 2013   Share   Quote   Permalink   Like   Dislike   Can’t print out without distortion.

3. bg Follow Befriend (13) 43 threads 322 comments Pacifica, CA Premium

   3   6:24am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected   I can't get the link to work at all. :-/

4. donjumpsuit Follow Befriend 15 threads 485 comments

   4   6:55am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Picture

5. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

   5   7:37am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected   What happened to the bidding wars?

6. robertoaribas Follow Befriend (23) 56 threads 4,081 comments Scottsdale, AZ robertoaribas's website

   6   7:42am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   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.

7. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

   7   8:15am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected   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.

8. RentingForHalfTheCost Follow Befriend (8) 40 threads 2,062 comments Pleasanton, CA Premium

   8   8:24am Wed 27 Feb 2013   Share   Quote   Permalink   Like (2)   Dislike   Protected   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.

9. REpro Follow Befriend (1) 22 threads 478 comments San Jose, CA

   9   9:22am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   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?

10. REpro Follow Befriend (1) 22 threads 478 comments San Jose, CA

    10   9:41am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   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.

11. gregpfielding Follow Befriend (9) 43 threads 288 comments Danville, CA gregpfielding's website

    11   9:48am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   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...

12. REpro Follow Befriend (1) 22 threads 478 comments San Jose, CA

    12   10:08am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   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.