Real Estate Talks

data is data - but specifics tell a different story.

I'll be postings individual sales data in this thread

First up

http://sarafakhari.com/property_details-V866061.html

MLS #V866061
#3055 WINDSOR ST.
lot size 46x87, 4002 sqft RT-5 zoned
house size 1914 sqft
oldtimer (teardown)
listed $835K
assessed $678,200
sold 28-Jan @ $825K

That $206 per sqft lot

next:

1669 13TH AVE E
MLS® V854150
lot size 33x122 (4026 sqft) - corner of Commercial and 13th ave
house size 2617 sqft
81 year old home
listed $979K
assessed $637,300
sold $925K after 112 days on the market

$230/sq ft lot

and:

6559 WALES ST
MLS® V865475
lot size 48x175 (8414 sqft)
house size 2608sqft
built 1958
listed 1,098,888 (Chinese marketed)
assessed 907,700
sold 01-Feb @ 1,060,000!!!

All three sold under list. So what does that say?

The prices are huge but they are under list price.

What does it say?

The prices are huge but they are under list price.

What does it say?

If I were to list my home I'd put a huge price on it and accept a bit less too.
One sale was 25% above assessed and another was 53% above!

Just an observation based on the sales that ETB had previously listed, all of which were always over list with multiple bids. That's why I asked the question.

Just an observation based on the sales that ETB had previously listed, all of which were always over list with multiple bids. That's why I asked the question.

That's how market works.

In week 1, seller put his property on the market with an asking price little bit higher than assessed value, and it was surprisingly sold in next few days at 20% higher than the asking; it was then reported, in week 2, by news, TV. and internet; then more new sellers are encouraged to sell their properties with a incrediable high asking price in week 3; ... but market can only support the new price at certain level, so properties were sold, in week 4, less than the asking prices but still way above the assessed values.

That's what happening now.

Is this the case? Are average asking prices increasing? Are there even stats for that?

I guess that also explains all the market price change (up) these last few weeks

Is this the case? Are average asking prices increasing? Are there even stats for that?

why do you even care about this? Aren't the sales details the only thing you need to worry about?

It should matter when you are only posting 3 sales out of how many? That's a pretty small data set to use to start making statements about the market. I'm just asking what this means. Are all the price changes up? You need to start looking at a little bit bigger picture. Aren't you the one that likes to accuse bears of only posting a small part of data to support their argument? I think this is the same thing.

Is this the case? Are average asking prices increasing? Are there even stats for that?

Yes, see REBGV report on Feb.02. The average sale prices jumped 100k in last one month. And I'm also "encouraged" to put one of my property for sale with an inflated asking price now.

Yes, see REBGV report on Feb.02. The average sale prices jumped 100k in last one month. And I'm also "encouraged" to put one of my property for sale with an inflated asking price now.

Thompson...I was referring to average asking price. Is that going up?

shouldn't have a huge difference between average sale and asking price except the transitory tics. So, the avearge asking price must been going up as well.