Sales Price Percentage Over List Price
Sales Price Percentage Over List Price is one statistic that is often overlooked and it is important in my opinion. You calculate this number by dividing the actual sales price (the amount buyer paid for the property) by the asking price (the amount home was listed for.) and multiplying that number by 100.
Ex. Home sold for $180,000 and was listed at $200,000.
180,000 divided by 200,000 = .90
.90 x 100 = 90 percent
90 percent is the Sales Price to List Price
Sales Price Percentage Over List Price – July 2016
Now that we have that cleared up. The communities with the highest sales price percentage over list price for July 2016 are the following:
Royal Oak is #1 with 98.41 percent
Rochester is #2 with 98.11 percent
Troy is #3 with 97.62 percent
Sales Price Percentage Over List Price – July 2017
The communities with the highest sales price percentage for July 2017 are the following:
Lake Orion is #1 with 99.11 percent!! Wasn’t even in the top 3 for 2016 and actually jumped from 96.40 percent!
Royal Oak is #2 at 98.42 percent.
Shelby Twp is #3 at 97.49 percent. Another new one in the top 3. Shelby came up from 96.50 percent in 2016.
Interesting to look at the changes from year to year and community to community. Some saw increases in their sales price over list price percentages while others saw dips. Since I like to concentrate on the positives I’ve listed the communities who had the largest sales price percentage over list price, but I also like to face reality and here are a couple of communities which saw decreases in their percentages.
Rochester went from 98.11 to 96.65.
Troy went from 97.62 to 96.71.
Not bad when you take all things into consideration. Just 2 out of 7 communities saw a dip. Let’s explore this further in person. Give me a call and I’ll review specifically the community you are interested in. If you’d like to learn more about these areas please visit our Community section and our Community Blog section as well.