This is EXACTLY what I am talking about. Look, if you find value in generalized statistics then fine. My point is not that macro statistics do not help you forecast the market direction. You are going off topic.
My point is this… If you feel that the difference in sales price verses list price posted as it is at the top of this thread is helpful, then in my opinion, you are incorrect for the following reasons:
1 – It is not accurate. If you can answer my questions about how it is arrived at for all of the exceptions I brought up then please do.
2 – It really has no bearing on an individual sale you may be looking at. The pricing on ANY HOME may be good or bad based on the mindset of the seller and the data the agent gave them.
3 – That statistic posted above is backward looking. It provides no sense of the market activity at the time in the area you are looking. The matter of fact is that right now if you are a buyer and you are looking at a home that is well priced and shows well, you will encounter alot of competition for that home. A few months ago you would not have.
If you want to use that statistic at the top of the page to make a decision that you will offer $x below the list price for every property in San Carlos because that is what the table said that is a poor decision. In fact, it doesn’t matter what the table says, what matters more is what the price of the San Carlos home is compared to the comps. What matters is how long it has been on the market, what condition it is in, etc… What doesn’t matter to me is what the Redfin table says about San Carlos list price compared to San Carlos sales price.
