Quote:
Originally Posted by l2ridehd
Tracking the resale market, home prices have moved up in October and November. I have a long complicated formula that I use that looks a lot size, house size, freatures, and a few other items and gets it down to $$ per square foot for home and lot. Then assign a percentage to each for average cost per square foot. I throw out the top and bottom 5% and any where the name transfer is the same last name. 100% accurate, no. A great indicator yes. And I use asking price and selling price. However selling price I am delayed for about 60 days in getting the information. But take it to the bank that homes prices in TV are moving in a positive direction. Also the gap between asking price and selling price for the resale market is starting to close.
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Interesting system. Thanks for sharing.
In general (high/low) what is the gap between asking and selling price on resales.