Trulia’s Marblehead homes give away
I have been very good in not picking on Trulia’s “statistics” for some months now but this is one I could not resist.
According to Trulia, the “average listing price for all homes in 01945” was 242% below the listing price of a house at $3.5 million.*
OK, Trulia here is a math lesson.
Let x = listing price. If another house is say 20% below that its price is (x – 20/100x) = 0.8x.
If, therefore, the average is 242% below, then the price is (x-242/100x) = minus 1.42x.
Thus, according to Trulia’s math, the “average listing price of homes in 01945” is ($3.5 million- 2.42 x $3.5 million), or minus $5 million!
No wonder Boston condo owners are taking their profits and moving to Marblehead.
* The house in question, at $3.5 million, is listed at 242% above the average listing price of just over $1 million, which in turn is 71% below the listing price.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.