February Statistics
I've decided to do the monthly statistics a little differently. From now on, I'll also post stats on the preceding month's sales and how they compared to the same month a year ago. Enjoy!
Monday, March 03, 2008
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Interesting. It looks like the $/sqft for houses sold is around 11% lower than the average asking $/sqft. However, the median sales price is ~ 7% higher than the median asking. Translation: buyers are skewing more toward larger houses rather than lower prices, especially when you factor in the 10% drop in SP vs LP.
I like the idea of showing how the current data stacks up against the data from 07. Keep it up!
I like this Agent, it gives a nice context to what you are looking at. Hopefully this is also easier for you to compile.
Yeah, it's pretty easy. I like it a lot better as well. Much easier to get a bigger picture this way.
Looks good. Massive changes in the sales prices... just amazing stuff.
Lots of action in the REOs - typically below the median price.
Ah, that's one stat I forgot to report on...I'll post the stats showing what % of sales were for REOs and short sales...I'm guessing around 70%.
"....buyers are skewing more toward larger houses rather than lower prices, especially when you factor in the 10% drop in SP vs LP..."
That is exactly what I did. I bought 3100 SF recently for less money than an 1800 SF house I considered buying in 2005...before I got bubble religion!
AB - I heard REO was pushing 70% but now dropping to 50%, likely take awhile to show up in closings.
These kinds of stats will move the median down rapidly - that doesn't mean that typical home prices are moving as rapidly, it means there's more action at the low end. (note that Zillow recorded 1-2 years of 100% appreciation in some zip codes because of the opposite effect when it was hot)
At present, there are 3,636 pending sales. Of those 2,452 are REOs or short sales.
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