[quote=XBoxBoy]
But I do agree with SD Realtor that this chart has no value if I interpret it as telling me that the average house in La Jolla is worth 10% less than asking price. (Or that if I get 10% off I got a good deal) To value a house, other data points are far more important.
XBoxBoy[/quote]
I would agree with that too but I guess I am giving the OP credit for not trying to do that. It would be irrational. The other points you and pepsi are making seem to be what one would dwell on ,relative to this data. It is more than a coincidence that your observations of various improving factors in favor of the buyer, coincide with higher average reductions.Sellers, as I believe you pointed out, are on average playing catch-up.
If SDR, means to say agents, buyers and sellers should represent themselves carefully as to accuracy at the transaction level,as much as possible,should they choose to participate in the market, I agree.
