BSR it is indeed unfortunate when a listing agent does not give a seller the complete picture of the local market where the seller intends to sell. It is absolutely important to consider ALL of the statistics including the local sales volume (on a yoy basis), the months inventory, the active pending ratio, the local competition, and of course the expired/cancelled/withdrawn statistics. That way the seller can get a very informed picture of the situation.
As far as buyers go, Raptor make sure that any home you are really interested in is researched thoroughly. Please consult with your agent as to what he/she should gather for you. It makes a huge difference.