Listing prices increased while sales prices and units sold decreased?

Asked by Michael Monkman, Washington, DC Sat Feb 21, 2009

Is it normal for listing prices to increase while median sales prices and units sold decrease? This does not appear to be a successful pricing tactic. Increased sales usually are a consequence of LOWER prices. No?

Help the community by answering this question:

+ web reference
Web reference:

Answers

1
Tony Thompson, , Palatka, FL
Fri Oct 23, 2009
Michael,
There are a whole lot of variables in your question.
Listing prices rise when there is a shortage of inventory.
Median sales prices, well you need to compare apples to apples. In rural markets with a mix of Mfg homes and site built median price may actually mean nothing.
Units sold is very important however in a normal market quantity sold varies on a seasonal basis and with the availability of mortgage money.
Real estate agents and sellers must understand the market has changed. The market is price driven (REO'S, foreclosures, etc).
0 votes
Search Advice
Search
Ask our community a question
Market Conditions in Palatka Zip Codes

Email me when…

Learn more