Home Buying in Groveland>Question Details

Georgianna B…, Other/Just Looking in Massachusetts

What does recently sold homes mean? HOW recently?

Asked by Georgianna Bloom, Massachusetts Wed Apr 16, 2008

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6
Traditionally, recently sold homes means in the past 6 months, however, if a comparable home hasn't sold recently, we can search up to two years ago and use statistics to adjust the two year old home sale to current market prices.
0 votes Thank Flag Link Wed Apr 16, 2008
It all depends on the context of your question. Is it pertaining to an Advertisement? Is it regarding an appraisal or market analysis? "Recent" will be different depending on the context (and who you are asking).
0 votes Thank Flag Link Wed Apr 16, 2008
Based on my market and experience, if the market is changing, then as recent as the past few weeks. If the market is relatively stable, then the past 6 months. For relocation purposes, generally, the past 3 months is the data expected.
0 votes Thank Flag Link Wed Apr 16, 2008
As realtors we look 6 months back. That is what relocation companies require.

ellen
0 votes Thank Flag Link Wed Apr 16, 2008
In this market, it is best to use ninety days as a measure for recent sales. It depends on what your local market is doing.
0 votes Thank Flag Link Wed Apr 16, 2008
Georgianna,
It depends on the market. If it is changing as fast as the current one is, "recently" can mean in the last 90 days. As an appraiser, I am currently seeing lenders ask us to cite sales within the last 90 days. If the market is more stable, sometimes 6-12 months is more acceptable. It really all depends on the context of your question.
Mike
0 votes Thank Flag Link Wed Apr 16, 2008
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