“Never believe any statistics you haven’t falsified yourself.”

Having been in real estate 5 or so years, I never had any use for statistics.  Put the house on the market, a week later it sold. 

Now it’s another story.  Statistics are a crucial part of pricing homes for sale and for determining an appropriate offer price for a buyer.  There’s a constant discussion happening about what the market is doing and where it’s doing it; statistics play a vital role in that discussion.

My client has this great quote on his website, “Never believe any statistics you haven’t falsified yourself.”  Just so you know, I didn’t do anything to these statistics to manipulate them.  It’s a straight pull of information from the Multiple Listing Service for all neighborhoods within the City of San Carlos based on semi-annual data from 1998 to 2007.

Single Family Residential

Average Days to Sell Average Sales Price Median Sales Price % of List Price Receive
 1998 Semi-Annual 1
20 508,315 475,500 102.53
 1998 Semi-Annual 2
38 525,805 490,000 99.96
 1999 Semi-Annual 1
46 555,778 520,000 100.48
 1999 Semi-Annual 2
33 622,479 575,000 101.48
 2000 Semi-Annual 1
28 789,077 720,000 111.15
 2000 Semi-Annual 2
28 770,966 700,000 106.12
 2001 Semi-Annual 1
25 721,212 675,000 100.67
 2001 Semi-Annual 2
56 683,343 650,000 97.26
 2002 Semi-Annual 1
45 747,558 690,000 101.39
 2002 Semi-Annual 2
33 744,744 700,000 99.36
 2003 Semi-Annual 1
35 734,415 695,000 99.10
 2003 Semi-Annual 2
35 774,890 735,000 99.96
 2004 Semi-Annual 1
23 895,456 826,000 103.10
 2004 Semi-Annual 2
27 909,160 838,500 103.04
 2005 Semi-Annual 1
18 1,036,700 945,000 108.33
 2005 Semi-Annual 2
30 1,087,605 985,000 103.26
 2006 Semi-Annual 1
34 1,115,323 999,000 100.76
 2006 Semi-Annual 2
31 1,066,489 936,250 100.64
 2007 Semi-Annual 1
35 1,102,618 1,045,000 101.63

  

It may be taking over a month for the house to sell, but they still end up selling over the asking price. 

 

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

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