Market Conditions in 02152>Question Details

Jaswinder Si…,  in 02148

Market change

Asked by Jaswinder Singh, 02148 Mon May 17, 2010

Well, Trulia shows market has jumped about 18% in the last 3 or 4 months for Winthrop town but NAR report shows that market dropped about 6% in the first quarter of 2010 for the same town. Does any one know why that much difference and who to beleive?

Thanks!

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Neither report is definitive. Both reports use metrics which, when taken over a large span of time (6-18 months) and over a wide area (think counties as opposed to towns), can show the movement in prices. Fundamentally, the NAR report uses price medians, and Trulia uses mathematical comparisons based on public records, but both methods require high volumes of sales to filter through the "noise" that small areas or short time frames produce.

matt
0 votes Thank Flag Link Mon May 17, 2010
Well some of it is possibly due to the lag in sales reporting. Remember that sales #'s are recorded from the closing and report on "sales" made 6-8 weeks prior. You'd have to look at the statistics and see exactly what they're measuring & the methods used to calculate the results.

Hope that helps,
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Mon May 17, 2010
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