Are you looking for a powerful image to help your clients understand the odds of selling their home in today’s market? Take a look at this “List vs. Sale Price” chart, from REDataCenter. This market data view provides a powerful analysis of original and current list prices, at what price point listings are selling, new listings by month and of those listed, how many have sold.
The green line represents the average original list price, while the red line represents the current average list prices. The blue line shows the average sale price. In this chart, the large gap between the blue and green/red lines indicates a high number of listings priced far above current market demand.
The purple bar demonstrates new listings which came into the MLS system in a given month. The adjacent blue bar shows how many of those listings have sold – ever. The difference between the purple and blue bars is comprised of listings which have expired, been withdrawn, are still on the market, or could possibly be in the lease purchase process. The lease purchase portion accounts for very few of these. Of course, the more current months will see improvement over time, as many of those properties close. The further back you look, the less likely that blue bar is to change for the better.
So, help us raise the bar! Educate your sellers to price right and grab their place in the blue bar! Visit REDataCenter and find out how you can raise the bar in your area!