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Whats wrong with this graph?

By REpro   2013 Feb 26, 2:01pm   1,849 views   8 comments   watch (1)   quote      

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 1-8 of 8     Last »

1   E-man   5/5 = 100% civil   2013 Feb 26, 2:58pm  ↑ like   ↓ dislike   quote    

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

2   REpro     2013 Feb 26, 3:03pm  ↑ like   ↓ dislike   quote    

Can’t print out without distortion.

3   bg     2013 Feb 26, 10:24pm  ↑ like   ↓ dislike   quote    

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

4   RentingForHalfTheCost     2013 Feb 27, 12:24am  ↑ like (2)   ↓ dislike   quote    

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.

5   REpro     2013 Feb 27, 1:22am  ↑ like   ↓ dislike   quote    

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?

6   REpro     2013 Feb 27, 1:41am  ↑ like   ↓ dislike   quote    

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.

7   gregpfielding     2013 Feb 27, 1:48am  ↑ like   ↓ dislike   quote    

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...

8   REpro     2013 Feb 27, 2:08am  ↑ like   ↓ dislike   quote    

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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