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Be Careful with RE Stats

We all get Real Estate Stats from many different places. I'm a big fan, but even I admit you have to be very careful when using them. After all, they can be very misleading.


Cochrane Homes For Sale

Be Careful with RE Stats Blog Transcription

Hey guys! Rob Reynar here just checking in, wanna talk about something that I get a lot of questions about from clients and other people and it's Real Estate Statistics. I'm a statistics junkie, I admit it, I love analyzing the market. I love looking at all the different numbers and what's selling and what's not selling. What price points, you know every stat in real estate you could imagine, I love analyzing but I admit we can take real estate stats a little too far. I think there's a couple of keys that we need to focus on. Number one, quantify your stats, if you say the median price is X then you need to quantify the market and the type of property that that median price is coming from because that can make a huge difference. Let me give you an example, right now the absorption rate in Cochrane is three and a half months, so that meeans there's three and a half months of inventory. If we kept selling at the current pace and didn't list another house. Well that's sounds terrific and it is. I mean that's really good. A few months ago, we were fifteen months but if you look at five hundred and fifty thousand and over, it's twelve and a half months. So there's huge difference there between three and a half and twelve and a half, that's a much different market. So, again that's to me the key when looking at stats. Don't get wowed by impressive numbers, really delve in and say okay, what's going on in the micro market and if it's your house in particular, make sure that the stats you're using or your realtor is using, compares apples to apples. You're house compared to the market, not just general market stats to make you feel good about yourself coz that's not gonna help you get your house sold. I'd Love to hear your comments on this, R-E-Y-N-A-R, and will talk to you soon, buh bye!

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