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Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

You mean list to sale ratio? Probably not nationally/regionally. Locally, sure. And it is an important metric.

Apr 15, 2016 10:31 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

See your local MLS data for accurate list/sale %

Apr 15, 2016 09:41 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't believe that agents report inaccurate sales prices to their MLS.  This would be a pretty serious violation.

Apr 16, 2016 05:21 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

3% from current or last list price to sold price.

Good number if ADOM is less than 45. However that calculation is not based on ADOM.

Such a number do not account for issues of MULTIPLE price adjustments for same property.

However such a number does not account for issues where a house does not sell and is relisted a week later.

However such a number does not account for 'exceptional' real estate that makes all calculations go whacky such as ultra expensive or short sales.

Such numbers will be misleading

However, I do find them useful in validating the CIS Score's accuracy regarding the price for which the house will sell.

Apr 15, 2016 11:28 PM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Your local MLS provides that information

Apr 15, 2016 10:39 PM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Check your MLS.

Apr 15, 2016 12:48 PM
Rainmaker
655,940
Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

I wouldn't call it error. and it does't address the double ended transactions where a commission break makes it a win/win with the seller netting the same as full price but buyer paid a little less.

Apr 15, 2016 12:29 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Our MLS will provide these stats but am not aware of any national database.

Apr 15, 2016 12:20 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

I don't refer to it as margin of error.  Check you MLS for data.

Apr 15, 2016 12:01 PM
Ambassador
6,393,609
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

doesnt your mls do this?

 

Apr 15, 2016 11:15 AM
Rainmaker
823,579
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

Not that I know of, but you can check your MLS and view the list vs. sold prices in different areas.

Apr 15, 2016 09:54 AM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Our MLS shows what the original list price is and the sales price.

Apr 17, 2016 11:52 PM
Rainer
97,816
Carol Wilson
Your $imple Home - Toronto, ON

Home stagers play a game of getting top dollar for the house, and even hope to start bidding wars.  I wouldn't label a gap between list price and final selling price as an error.  We stagers prefer to think of it as a reflection of expertise.  (LOL-that doesn't mean it always is!)

Apr 16, 2016 12:43 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I've seen some blog posts on this, usually for limited geographic areas though.

Apr 16, 2016 12:11 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thanks for clarifying the "margin of error" phrase Vinnie.  That definitely changes my response! 

As to a general study, on the delta between list and sale price, it is really something that is best done on an a micro scale to even an extremely micro scale.  There are some spots in my city, about 10 blocks long that have very unique homes and their delta is almost zero, sometimes a negative delta (paid over list).  At the same time, the city as a whole could be at a 5% delta (just throwing out a random number for sake of discussion).

 

I would suggest looking at the various state and the national ass. of realtors to see what they have.  I'm pretty sure California has some stats on their site.

Apr 16, 2016 07:23 AM
Rainmaker
4,160,899
John Pusa
Glendale, CA

This is very good question.

Apr 16, 2016 04:01 AM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I'm not aware of any such study.  Numbers alone don't always tell the real story in my opinion.   Some many variables come into play.  

Apr 16, 2016 12:34 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

There sure is..the local board of Realtors puts that data is as does the Internet

Apr 16, 2016 12:14 AM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

That information is readily available in MLS data in our market.

Apr 16, 2016 12:14 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I get it from the mls.

Apr 15, 2016 11:10 PM
Rainmaker
3,340,443
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

National averages mean very little...real estate is very local...MLS in each area may be able to give a list to sale percentage which is the number I believe you seek and may vary by city, county and state.

Apr 15, 2016 10:40 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Vinnie Gene Welcome to Active Rain!

Apr 15, 2016 10:17 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

I don't think there is, Anonymous. Any study would also need to factor price changes, withdrawn listings that come back at a new price and other things that would skew the data.

Apr 15, 2016 07:07 PM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Well, these days, if a listing has no offers in first two weeks, it is overpriced or poorly marketed. I believe it is more than 10%.

Apr 15, 2016 05:20 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

This will change from one area to another. And what may show as hardly any difference could be huge in another town.

Apr 15, 2016 03:38 PM
Ambassador
3,164,294
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I don't think any sales are "over reported" to our MLS.  We verify with public records

Apr 15, 2016 01:46 PM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Easily measured on any MLS.

Apr 15, 2016 12:30 PM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

AVm is not an appraisal......

Apr 15, 2016 12:26 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

There is no real info on this

Apr 15, 2016 12:16 PM
Rainmaker
2,362,977
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

sounds like you got lots of different answers- all helpful from the members of Active Rain

Apr 15, 2016 12:00 PM
Ambassador
2,178,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

If you are not a REALTOR with access to the local data, you probably won't have access to it.  

Apr 15, 2016 11:29 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Check out the market reports that agents do on AR. A lot of them list sales to list price ratios. 

Apr 15, 2016 10:54 AM
Rainmaker
582,106
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

This is sometimes not the result of "error". Market values can change rapidly or subtly over the time period between listing and closing.

Apr 15, 2016 10:30 AM