You Can't Always Trust the Numbers - Looking Deeper
By Keith Kyle, Top Producing Agent
(Vista Sotheby's International)
We recently posted about the home prices for November in the Hollywood Riviera. Two key metrics we've been following is whether homes are selling for under or over the list prices and also how long homes are sitting on the market. Decisions can be made from these numbers....what's the market doing, where's it heading....is it a buyer's market or seller's market?Sometimes one or two sales in a month can dramatically skew these number's however, and don't paint an accurate picture of market conditions. The Hollywood Riviera in November was a perfect example. Unlike recent months the average "sold" prices were actually lower than the "list" price. Average days on market was also 70 for the homes that sold which is well higher than previous months. Both potentially indicate that the mark...
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