For me as a buyer it does not have value. For my clients who are buyers it does not have value either.
Look at it this way. Anyone buying a home needs to keep that purchase orthogonal to external data that is not 100% accurate. For instance when it comes down to what I am going to offer on a home for myself, I do not even look at what the difference is between asking price and sales price of an entire zip code. That data will only skew the reality of MY DEAL. What is important are comps of the homes that are matching the one I am considering buying. What did those homes close at. Where there any concessions for those homes? What do I forecast for further depreciation for those homes.
It is much to easy to let extraneous data sidetrack you. Knowing a zip code has an “average” sales price that is x% below the “average” list price is simply not helpful to me. Do you parse out condos verses sfh? Do you parse out short sales verses reos verses regular resales? Do you parse out a POS verses a diamond. What about a home that has a cracked slab or got a rehab loan?
Again, using generic overgeneralized statistics is a very common mistake and I will never agree that it is helpful. More often it leads to misconceptions that are NO DIFFERENT then the entitlement sellers feel by overpricing thier homes to begin with.
