We thought you would be interested to see the market stats on Residential listings. The chart above is a “Snap Shot” of all the residential listings, categorized into 9 areas served by the Coeur d’Alene Multiple Listing Service. These are stats from the 1st Quarter of 2012: from January 1 through March 31.
Here’s more info you might find interesting…
Here is a bar graph of Homes located on less than 1 Acre,
comparing 1st Quarter 2012 against 1st Quarter a year ago.
Draw your own conclusions…but we think this looks like good news!
Now…it occurs to us that since we’re “in the business”, maybe it’s been a while since we suffered from any kind of “Real Estate speak” confusion.
Are there terms in these graphs that we should explain? Do you understand what you’re looking at, and can you interpret the meaning of these graphs?
Do you have questions that we could answer for you?
One term may be “OLS/SP”. How about a definition?
The quick definition of Original List Price (OLP) is the price that a home is listed at when it is offered for sale. This price may differe [sic] from List Price (LP), when a house is reduced. An example is when a house is listed at $299,900, then reduced to $289,900, and again to $279,900. The Original List Price is $299,900, while the current list price is $279,900.
“SP”, of course, would then refer to the Sold Price – the actual price which was paid for the property.
Do you have other questions about our local Real Estate Market? May we assist you with more “translation” from “Real Estate speak” to plain ol’ English?
We’d like to hear from you!
Comments are open, if you’d like to post a question or comment. Or please call us! We’d LOVE to help you by answering your questions, providing more interpretation of these stats, or discussing our local Real Estate Market with you.
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