Quote:
Originally Posted by BrianL99
As a statistic, the # of home sales is unrelated to pricing.
As a statistic, the rate of home sales is unrelated to pricing.
As a statistic, the upward or downward trend in units sold or listed is unrelated to pricing.
As a practical matter, a "soft market" (in real estate) usually causes price compression. Higher priced homes decrease at a faster rate and lower priced home might actual trend upwards. Supply & demand and the elasticity of the demand curve (I think that's right word).
|
This is why realtors and appraisers use the median sales price of similar homes to price a new home on the market. But, thanks for rewording what I said.
This is easy to do yourself. Say you own a gardenia model.
1.go to vls and type in gardenia as your search. All gardenia models currently for sale will pop up.
2. Eliminate the homes that have a pool or a view if yours does not have this. Or vice versa.
3. Look at the prices of the homes remaining. Your actual sales price will most likely be the midpoint of these prices. You can attempt to ask higher, sometimes this works. For example: A cleaner home sells better than a messier one.
4. If your asking price is well above what others are asking, you are OVERPRICED.