# EXTRACTING FORECASTING OR QUICK SALE

```EXTRACTING FORECASTING OR QUICK SALE
You are completing an appraisal in
an area where normal marketing time
is 150-210 days. You have gathered
data on sales under 120 days and
over 120 days in order to possibly
After preliminary analysis, you
decide that an analysis of sales price
per square foot would be most
appropriate.
Table 1: Sales under 120 days on market
Sale Price
Sq Ft
DOM
SP per Sq Ft
\$245,000
2100
85
\$116.67
\$290,000
2390
110
\$121.34
\$218,000
1960
75
\$111.22
\$272,000
2275
90
\$119.56
\$231,000
2080
101
\$111.06
Mean = \$115.77 median = \$116.67
Reconciliation: most similar = \$245,000.
Table 2: Sales over 120 days on market
Sale Price
Sq Ft
DOM
SP per Sq Ft
\$237,000
1910
189
\$124.08
\$258,000
2070
210
\$124.64
\$305,000
2310
150
\$132.03
\$275,000
2095
155
\$131.26
\$280,000
2145
225
\$130.54
Mean = \$128.51 Median = \$130.54
Reconciliation: most similar = \$275,000.
Sales Price Per Square Foot
Over 120 days: Mean - \$128.51 Median - \$130.54
Under 120 days: Mean - \$115.77 Median - \$116.67
Difference:
Mean - \$12.74 Median - \$ 13.87
Reconciliation of data:
Over 120 days: Sale #2 \$275,000 = \$131.76
Under 120 days: Sale #5 \$245,000 = \$116.67
Calculated as percentages:
\$12.74/\$115.77 = .110 or 11.0% (using Mean)
\$13.87/\$116.67 = .119 or 11.9% (using Median)
Based strictly on the statistical analysis:
\$272,000 sale that was on the market for 180 days?
(Answer: \$31,280 at 11.5%. Anticipated Sale
Price/Quick Sale Value = \$240,720)
Reconciliation: Calculated as a percentage:
\$245,000/\$275,000 = .109 or 11% (rounded)
\$ 116.67/\$131.76
= .115 or 11.5%
Based on the Reconciliation percentage:
\$272,000 sale that was on the market for 180 days?
(Answer: \$29,290 at 11%. Anticipated Sale
Price/Quick Sale Value = \$242,080.)
Raw Mean Sale Price*
\$250,200 - \$271,000 = (\$20,800) = 7.7%
Raw Median Sale Price**
\$245,000 - \$275,000 = (\$30,000)= 10.9%
*Percentage based on over 120 days Raw
Mean Sale Prices
**Percentage based on over 120 days Raw
Median Sale Prices
```

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