Today is a short post, inspired by a recent reader question, that allows us to pursue a “statistic” that many “real estate professionals” quote, but few truly understand. Today’s topic is about the relationship between the asking price and the selling price (sales price to list price ratio) of homes that have recently sold.

While we will be utilizing information found in the Tallahassee Board Of REALTORS® Multiple Listing Service (Tallahassee MLS), I suspect my findings would be valid with information from any other MLS in the country. As you will see, our findings will much more subjective than objective.

Tallahassee Real Estate Blog reader “Ashley” asked:

I was wondering if you could provide me with some information on the median list to sale price ratio in the Tallahassee market.  Do you know where I might be able to locate this information?  If it is broken down by price range that would be even better.  I would like to know for my own curiosity.  I read your blog regularly, keep up the postings.

Thanks.

Ashley

This is a great question, but unfortunately the answer is not too easy to come by. The problem lies in the actual data and the people whom we rely upon to enter the data.

[click to reveal a commonly reported "fact" that is just a real estate myth…]