The list price versus the selling price ratio is an average of all homes sold. You should know that in most cases there is also a variance between price points. That is to say that an overall average figure may not reflect the variance at say, below $400K, or above $900K,
The overall average list price was $514,082
The overall average sold price $501,191, yielding a LP vs. Sp ratio of 97.4%
In July of 2007 it was 98.3%, so one can see the effects of the market shift.
I have been servicing the real estate market in the Burbank for some time now and have not seen a big difference between the list and sale price. Actually, in some instances the sale price has been over the list price. It depends on the area, condition of the house, and amount of time on the market.
Let me know if you have any other questions. 818-303-4093
For June, the average home sold for 97.1 percent of the list price in Burbank. The stats aren't up for July yet.
The Reavis Group
Keller Williams Wilshire