Average Price of Homes for Sale vs. Homes Sold in Seattle
What Does Average Price For Sale & Sold graph mean?
- The Average Price For Sale is the average of list price of the properties for sale in a particular month. The Average Price Sold is the average of sold price of the properties sold in a particular month. Displaying both the Average Price For Saleand Average Price Sold line charts in a graph portrays the relationship between the on and off market pricing.
What Does Average Price For Sale & Sold Report Do?
- It helps determine whether the market is a buyer or seller market. If the average listing price and average sold price are the closest, the area has the healthiest market.
- It helps identify where the softest market is and where the buyer can find the biggest price concessions.
- It helps determine if there is any change in property value for a specific area.
How to Use Average Price For Sale & Sold Report?
- Refer to For Sale vs. Sold Report for the number of properties sold. If a very expensive or very cheap home has been sold, these statistics can be skewed up or down, and the trend line can fluctuate with less consistency.
- If the average sold price is below the average listing price, and falling, the market is moving toward a buyers' market. If the average sold price trend is up or above the average listing price, the market is moving toward a sellers' market.
