John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... Price matters.
Last week, I posted a story on InsideRealEstateNews that high-end homes in the Denver area fell a mere 2.3 percent in the first quarter compared with the same period in 2010, according to an analysis by S&P/Case-Shiller. By contrast, low-end homes fell by 8.4 percent during the same period.
I wondered what Case-Shiller meant by its three price tiers: low, mid and high.
I dug a little deeper and found that in Denver, low end is anything below$202,414; mid-level is $202,414 to $308,428; and high-end is anything above $308,428. Low-tiered homes in San Diego at $304,952, was almost the same as the high-tiered price band for Denver. Case-Shiller uses the same “matched-pair” methodology for the price tiers as it does for its overall report, which is one of the most closely watched and influential housing studies in the U.S.
Contact John Rebchook at JRCHOOK@gmail.com.
Metro Area Low (Below dollar amount) Mid High (Above dollar amount)
Atlanta $120,533 $120,533-$221,679 $221,679
Boston $262,343 $262,343-$367,668 $367,668
Chicago $166,603 $166,603-$263,695 $263,695
Cleveland $116,639 $116,639-$165,935 $165,938
DENVER $202,414 $202,414-$308,528 $304,428
Las Vegas $117,099 $117,099-$176,797 $176,797
Los Angeles $300,374 $300,374-$486,730 $486,730
Miami $142,598$ 4142,598-$247,044 $247,044
Minnesota $124,159 $124,159-$202,568 $202,568
New York $276,466 $276,466-$438,274 $438,274
Phoenix $97,859 $97,859-$169,583 $169,583
Portland $199,362 $199,362-$289,550 $289,550
San Diego $304,952 $304,952-$460,861 $460,861
San Francisco $312,456 $312,546-$573,577 $573,577
Seattle $241,624 $241,624-$380,492 $380,492
Tampa $107,376 $107,376-$179,021 $179,021
Washington, D.C. $287,797 $287,797-$459,389 $459,389
Way too much “precision”.
Try $121K $121-$221K $221K
etc.
Or, leave off the K if you think it to be cleaner.
You need to read/absorb: http://www.edwardtufte.com/tufte/
Dave,
As an engineer, I would think you would embrace the precision!
The current trends in real estate are really interesting and so I decided to write an article on the most frequently repeated mistakes when selling a property. I hope you’ll find them interesting.