Points South: including NODA, Plaza Midwood, Uptown, Meyers Park, South Park, and Ballantyne
28202, 28203, 28204, 28205, 28207, 28209, 28210, 28211, 28226, 28270, 28277
Residential MLS Closed Sale Data Analysis (month of July) over a 6 year period
Graphs show the number of days on the market for the seller and a buyer to reach a market value contract agreement that does eventually close.
“Days to Contract” is plotted as a function of “Sale Price Percentage of List Price”. Percentages over 100 indicate the sale price is greater than the last list price, and vice versa.
Primary conclusions over the six year period
- time frames have diminished
- the fraction of sales where the list price is bid up to a higher sales price has increased
- the extent to which list prices are bid up has increased
What do you think?
When, traditionally, the vast majority of sellers overestimate the market value, and set list prices above that overly high estimate, what accounts for 2021-2022, where a majority of sellers accepted dramatically increased percentage offers above list price, and vast majority fraction of them within seven to ten days?
What implications are there for owners considering to sell now, in terms of how to set the list price?