Sold price as a % of INITIAL listing price (square foot, appraisal, housing)

[luv4horses]

Is sold price as a % of initial listing price ever a metric that is captured by the MLS or any other group? It would be interesting to know just in general how optimistic sellers are in a geographical area when listing a home, and how that changes with time.

[AZJoeD]

Absolutely, this measurement is used regularly as part of any Comparative Market Analysis (CMA). While it is not the only factor in determining the market value of a home, it certainly can give both the Buyer and Seller an indication of health of the market. Keep in mind that in some markets this number can change dramatically from year to year, even month to month in some areas.

[MrRational]

Originally Posted by AZJoeD

Absolutely, this measurement is used regularly as part of any Comparative Market Analysis (CMA).

I think the OP is asking about a publicly available compilation of after the fact settled prices

[NinaN]

Captured by the MLS - yes. Available to the public - probably not.

[Hemlock140]

Below is a site that may be helpful, I selected in our city and found some interesting data.

Sammamish Home Values | Sammamish Housing Market Statistics & Trends

[lvoc]

All such statistics are misleading except in the high level overall view.

I routinely over price in certain communities. Two weeks in drop it back down. In other situations I come in low looking for a bidding war.

There is no right answer. I have pulled off both in the last year...though the response to the under listing was really good.

[ocngypz]

In my area several RE firms provide the data.

And that figure is very easily manipulated.

[MikeJaquish]

(Sold Price - Financial Concessions)/Initial List Price would be more interesting.

(Sold Price - Financial Concessions)/Appraisal Value would be very interesting.

[luv4horses]

Hemlock140, that is a spectacular example. Would it not be great if this was publically available for every city? However, it is surprising that sold/initial is regularly 95%+, but I guess in an area with such high price per square foot numbers there must be a lot of demand.

And sure MikeJ that would be even more interesting, but first things first.

[Hemlock140]

Originally Posted by luv4horses

Hemlock140, that is a spectacular example. Would it not be great if this was publically available for every city? However, it is surprising that sold/initial is regularly 95%+, but I guess in an area with such high price per square foot numbers there must be a lot of demand.

And sure MikeJ that would be even more interesting, but first things first.

Yes, the great schools and low crime rate while being only 23 miles from Seattle put it in great demand. Currently a development of 146 new homes starting at about $800k is under construction, that many may have some effect on existing home prices.