Whats wrong with this graph?


By REpro   Follow   Tue, 26 Feb 2013, 10:01pm   452 views   10 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


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    1   10:58pm Tue 26 Feb 2013   Share   Quote   Permalink   Like   Dislike  

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

  2. REpro


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    2   11:03pm Tue 26 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    Can’t print out without distortion.

  3. bg


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    3   6:24am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected  

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

  4. The Professor


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    4   7:37am Wed 27 Feb 2013   Share   Quote   Permalink   Like   Dislike   Protected  

    What happened to the bidding wars?

  5. The Professor


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    5   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.

  6. RentingForHalfTheCost


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    6   8:24am Wed 27 Feb 2013   Share   Quote   Permalink   Like (2)   Dislike  

    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.

  7. REpro


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    7   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?

  8. REpro


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    8   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.

  9. gregpfielding


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

    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...

  10. REpro


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    10   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.

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