IN-DEPTH ANALYSIS

September 2009

Listing vs. Sales Price

This article looks at the relationship pattern between the Listing Price and Sales Price (charts with both Median* and Average Price are displayed).

Commentary

The pattern associated with the size of the expectation gap that started appearing when the median sales price flattened out in June 2005 has significance, as does the return to a more normal relationship in late 2007.

Note the January median-listing data’s unusual deviation from the downward trend. There are three possible causes for this:

1. Faulty data

2. A fluke

3. A change in pattern

We do not know which it is at this time.

*The median price is the price at which 50% of the homes sold had a price greater than this number and 50% had price less than this amount.

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