Redfin list vs. sales price per sq. ft. chart – sign of weakness ?

[sdduuuude]

I’m just noticing some action in the little Redifn chart that Rich keeps in the right-hand margin of the site.

It seems a couple months ago, the listing price per square foot started to come down.

Anyone else see this as a potential sign of weakness on the supply/seller side of the market?

Also, I clicked the link to the full-size Redfin graph and it looks different from the one here. Is it for a different market segment or something? The lines are the same shape, but cross at different times.

[sdrealtor]

I think its indicative of two things one represents a real decline and the other a shift in the mix. Asking prices have been falling along with sold prices as the new sellers entering the market are forced to meet the current price levels. The other is that the active homes on the market are skewed towards larger homes relative to the past. Prices per sq ft typically decline as homes get bigger as very high fixed costs are amortized across a larger denominator. Smaller/cheaper homes which have higher prices/sq ft are selling while larger/more expensive homes with a lower price/sq ft languish.

[sdrealtor]

I think its indicative of two things one represents a real decline and the other a shift in the mix. Asking prices have been falling along with sold prices as the new sellers entering the market are forced to meet the current price levels. The other is that the active homes on the market are skewed towards larger homes relative to the past. Prices per sq ft typically decline as homes get bigger as very high fixed costs are amortized across a larger denominator. Smaller/cheaper homes which have higher prices/sq ft are selling while larger/more expensive homes with a lower price/sq ft languish.

[sdrealtor]

I think its indicative of two things one represents a real decline and the other a shift in the mix. Asking prices have been falling along with sold prices as the new sellers entering the market are forced to meet the current price levels. The other is that the active homes on the market are skewed towards larger homes relative to the past. Prices per sq ft typically decline as homes get bigger as very high fixed costs are amortized across a larger denominator. Smaller/cheaper homes which have higher prices/sq ft are selling while larger/more expensive homes with a lower price/sq ft languish.

[sdrealtor]

I think its indicative of two things one represents a real decline and the other a shift in the mix. Asking prices have been falling along with sold prices as the new sellers entering the market are forced to meet the current price levels. The other is that the active homes on the market are skewed towards larger homes relative to the past. Prices per sq ft typically decline as homes get bigger as very high fixed costs are amortized across a larger denominator. Smaller/cheaper homes which have higher prices/sq ft are selling while larger/more expensive homes with a lower price/sq ft languish.

[sdrealtor]

I think its indicative of two things one represents a real decline and the other a shift in the mix. Asking prices have been falling along with sold prices as the new sellers entering the market are forced to meet the current price levels. The other is that the active homes on the market are skewed towards larger homes relative to the past. Prices per sq ft typically decline as homes get bigger as very high fixed costs are amortized across a larger denominator. Smaller/cheaper homes which have higher prices/sq ft are selling while larger/more expensive homes with a lower price/sq ft languish.

[jpinpb]

Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.

[jpinpb]

Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.

[jpinpb]

Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.

[jpinpb]

Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.

[jpinpb]

Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.

[(former)FormerSanDiegan]

[quote=jpinpb]Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.[/quote]

jp – Some parts of bay park are in 92117. For example, the area north of Clairemont drive, east of Morena blvd. That area has much more in common with the subject house than some parts of 92110. The house you cite is only 5 blocks from the 92110/92117 border.

In fact, 92110 falls into at least three very distinct neighborhoods, including parts of Point Loma, Old Town, and Bay Park/West Clairemont. The Midway neighborhood of Point Loma is 92110. So is Old Town. These areas have less in common than Bay Park has with some parts of 92117.

I think redfin uses a radius to pull up comparable properties. While that is flawed as well, it is no more flawed than using zip code boundaries.

[(former)FormerSanDiegan]

[quote=jpinpb]Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.[/quote]

jp – Some parts of bay park are in 92117. For example, the area north of Clairemont drive, east of Morena blvd. That area has much more in common with the subject house than some parts of 92110. The house you cite is only 5 blocks from the 92110/92117 border.

In fact, 92110 falls into at least three very distinct neighborhoods, including parts of Point Loma, Old Town, and Bay Park/West Clairemont. The Midway neighborhood of Point Loma is 92110. So is Old Town. These areas have less in common than Bay Park has with some parts of 92117.

I think redfin uses a radius to pull up comparable properties. While that is flawed as well, it is no more flawed than using zip code boundaries.

[(former)FormerSanDiegan]

[quote=jpinpb]Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.[/quote]

jp – Some parts of bay park are in 92117. For example, the area north of Clairemont drive, east of Morena blvd. That area has much more in common with the subject house than some parts of 92110. The house you cite is only 5 blocks from the 92110/92117 border.

In fact, 92110 falls into at least three very distinct neighborhoods, including parts of Point Loma, Old Town, and Bay Park/West Clairemont. The Midway neighborhood of Point Loma is 92110. So is Old Town. These areas have less in common than Bay Park has with some parts of 92117.

I think redfin uses a radius to pull up comparable properties. While that is flawed as well, it is no more flawed than using zip code boundaries.

[(former)FormerSanDiegan]

[quote=jpinpb]Here’s what I just noticed about Redfin that I’m taking issue with. Setting aside comps as far as size of house, condition, lot size and whether there’s a view, they are using comps from a different ZIP code. For example, 2235 Denver is in 92110. But the comps they’re providing are including 92117.[/quote]

jp – Some parts of bay park are in 92117. For example, the area north of Clairemont drive, east of Morena blvd. That area has much more in common with the subject house than some parts of 92110. The house you cite is only 5 blocks from the 92110/92117 border.

In fact, 92110 falls into at least three very distinct neighborhoods, including parts of Point Loma, Old Town, and Bay Park/West Clairemont. The Midway neighborhood of Point Loma is 92110. So is Old Town. These areas have less in common than Bay Park has with some parts of 92117.

I think redfin uses a radius to pull up comparable properties. While that is flawed as well, it is no more flawed than using zip code boundaries.

[Author]

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