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  • About the 1st quarter sales graphs

    Posted on June 5th, 2010 admin No comments

    The Salt Lake Board of Realtors offers sales data every quarter in the form of press releases to show median sales prices by zip code.  This makes an easy and somewhat entertaining way to disseminate sales information to the public, but has one significant problem.  Zip codes do not define neighborhoods, and neighborhood identity is a major factor in pricing homes.

    Think about it.  Buyers who are familiar with the Salt Lake Valley never come to me and ask to see homes in the 84111 area.  Instead they want to look for a property in Sugarhouse or Taylorsville.  Likewise the free online search options for buyers use zip codes to defines searches which only reinforces this mistake.  But that is a issue for another rant at another time.

    I (and most other real estate agents) have access to this data (and much more) because we pay for access to the Wasatch Front Regional MLS system.  We can also search for property using very specific criteria which is not available to the public.  Not fair? Perhaps, but a good buyer’s agent can use their expertise to leverage this information to your benefit in finding the right home and making the best offer.  A good listing agent will also dig a little deeper into the data to find the best market price for your property and be able to identify the highest and best offer for their client.

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