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Sale and sold

About the For Sale Versus Sold Report

  • For Sale numbers are a snapshot of the number of properties for sale at the end of the month.
  • Pended numbers represent the number of properties that went into the \”pending\” status for that month.
  • New Listing numbers represent the number of properties that are new listed for that month.
  • Sold numbers represent the number of properties that are sold for that month.

What Does For Sale Versus Sold Report Do?

  • It helps to determine the trend of market supply and demand.
  • It helps to determine whether the current market is a seller or buyer market.
  • It helps to determine the minimum length of time of the listing period.
  • It helps to identify what price range the majority of the properties are in, within any specific area.
  • It helps to bring into focus where buyer activity is and the market condition in those areas.

How to Use the For Sale Versus Sold Report?

  • Use with the Average Price Per Square Foot Report to set a competitive listing price.
  • Use the current inventory level to determine market conditions. The current inventory level is derived by dividing the monthly listing number by the monthly sold number which is shown in the Months of Inventory graph. As a general rule, an inventory level of less than three indicates a strong seller market while an inventory level greater than six indicates a buyer\’s market.
  • A downward trend of listing inventory and an upward trend of the number of properties sold indicates the seller is in a better negotiating position.
  • An upward trend of listing inventory and a downward trend of the number of properties sold indicates the buyer is in a better negotiating position.

You Should Know

  • The properties sold figures are derived from recorded transactions.
  • Current monthly sold figures might be adjusted upward on the next month\’s report. This is to account for any closed transactions that are reported.

 

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