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Asking Price Vs. Selling Price
Original Source: Asking Price Vs. Selling Price
Often when I'm writing up statistics about specific neighborhoods, I will talk about the difference between asking and selling prices, usually in a % format. While absorption rates tell you about inventory and the speed with which things are selling, the spread between the asking and selling price lets you know about the mental health of the real estate market. A really large spread signals a disconnect between reality and fantasy, while a smaller spread indicates an understanding of current values and market conditions. While it's hard to pinpoint the peak of the housing bust (some would say we haven't seen it yet), for now the end of 2008/early 2009 seems to be the winner (rather, the loser!) for our close-in DC market.  For comparison purposes, let's take a look at three very different markets. In this case, I'll be using East Bethesda as my little microcosm.
For starters, let's delve into the crazy peak of the market in East Bethesda, Spring 2005 (specifically April 1 - June 30). During this time:
17 homes sold and settled The average original asking price was $806,235 The average final sales price was <!--more-->$835,479 The average house ... more

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