jg – This is precisely my point, (and to some degree Powaysellers and others point)… In my example there were only 3 sales and then almost 60 homes that came off the market.
So then how DOES the seller price his home correctly? You and Steve Beebo seem to maintain your stance on the median home sale price stats. So if a seller were to rely on that statistic then the odds are overwhelmingly in favor of the fact that that seller would end up NOT selling his home because he did not price correctly.
Even you have stated that the median price indicator is a lagging stat.
So while everyone on the post likes to bag on realtors and sellers about not pricing correctly, it would be a heck of alot easier if there was a MUCH MORE accurate or timely indicator of market performance.
How it is not obvious to people that market conditions are far from accurately portraying the conditions and sentiment continues to amaze me. So time after time I sit there and have to show frustrated sellers the real conditions as opposed to what they read in the monthly fishwrap about the precious median. Then when I show them the expireds, cancelleds and withdrawns they ask me, “why isn’t that reported?”
It frustrates me enough when sellers say things like that because in most cases they are simply not to bright. However to hear people on this site arguing that the median price indicator is an accurate gauge of the market is incredibly frustrating.
