For Sale vs. Sold vs. Pended
About the For Sale vs. Sold Report
- For Sale numbers are the snapshot of the number of property for sale at the end of the month.
- Pended numbers represent the number of properties that went into the "pending" status for that month.
- New Listing numbers represent the number of properties that are new listed for that month.
- Sold numbers represent the number of properties that are sold for that month.
What Does For Sale vs. Sold Report Do?
- It helps determine the trend of market supply and demand.
- It helps determine whether the current market is a seller or buyer market.
- It helps determine the minimum length of the listing period.
- It helps identify which price range the majority of the properties are in, within a given area.
- It helps focus on where the buyer's activities are and the market condition in those areas.
How to Use For Sale vs. Sold Report?
- Use with Average Price Per Sqft Report to set competitive listing price.
- Use current inventory level to determine market condition. The current inventory level is derived by dividing the monthly listing number by the monthly sold number which is shown in Months of Inventory graph. As a rule of thumb, an inventory level of less than three indicates a strong seller market while an inventory level greater than six indicates a buyer's market.
- A download trend of listing inventory and an upward trend of the number of properties sold indicates the seller is in a better negotiating position.
- An upward trend of listing inventory and a downward trend of the number of properties sold indicates the buyer is in a better negotiating position.
You Should Know
- The properties sold figures are derived from recorded transactions.
- Current monthly sold figures might be adjusted upward on the next month's report. This is to account for any closed transactions that are reported late.
All reports are published March 2018, based on data available at the end of February 2018, except for the today stats. Information and statistics derived from Northwest Multiple Listing Service. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.