Okay, it doesn’t mean much!
Here is the list Cheverly homes that went to settlement in January 2011:
|Address||Sold Price||Settlement Date|
|2812 PARKWAY||$ 208,900.00||01/03/11|
|3213 CHEVERLY HILLS CT||$ 155,000.00||01/06/11|
|6304 INWOOD ST||$ 350,901.00||01/10/11|
|2401 59TH PL||$ 100,000.00||01/24/11|
|2816 LAUREL AVE||$ 247,500.00||01/28/11|
|6603 OAK ST||$ 285,000.00||01/28/11|
|DATA SOURCE: Metropolitan Regional Information Systems, Inc. (MRIS) NOTES: Properties not listed through this Multiple Listing Service are not reflected. The term “sales” represents ratified purchase contracts. Information is subject to revision.|
It tells me:
- How many contracts went to settlement last month
- What prices the houses sold for
It doesn’t tell me:
- Anything about last month’s market activity (after all, those houses may have been under contract for 6 months – it might tell me what the market looked like 6 months ago, but only if I saw everything that went under contract 6 months ago)
- What the net selling price was – minus any closing help that the sellers agreed to pay. That sales price of $200k might look good, but it doesn’t tell you that the seller paid $12,000 of the buyer’s closing costs, meaning the actual sold price was closer to $188k
- Trends – it doesn’t say a thing about trends – what direction is the market headed? You can’t tell that from a list of houses that sold last month
- How many of those properties were distress sales (short sales and foreclosures)?
There is an agent who sends me information like this every month for property I own in another town. And I look it over every month. But since I want more, I figure you might too. So, over the next several days, I’ll be slicing and dicing some statistics that will give a more complete picture of the market. Follow this link – January 2011 market – for all the articles as they’re posted.
© 2011 Susan Pruden