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.

trulia_2016

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.

Read Which broker will find the buyer for my house?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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