Do you want to watch price reductions?
What a pleasant surprise to see a new feature on my searches. The system now adds a line that indicates the percentage of the last price reduction, if there was one. What this does is quickly give the consumer a little more information. Here’s a quick example of two from my email alert a minute ago.
Notice Coronado had a 6% price reduction on 11/5 and Touraine had a 2% price reduction on 10/28. It seems like they’re rounding up. Coronado by my calculation was 5.7% and Touraine was 1.96%. This data should not be taken out of context. It will be most meaningful if you are tracking a property or neighborhood to watch for hyper-local trends.
This is not the same as searching by price reduction. I asked our Multiple Listing Service about that recently. They replied to my email that, no, price change percentage is not a value that they have at this time.
Is this of value? If not, how could the search be improved? I’ll pass your feedback on to our MLS and my IDX search vendor.