The average achieved sale price, as a percentage of list, is a significant measure of the market. When it drops we conclude the market is deteriorating and when it rises the opposite is true.
On September 25 the percentage for all areas & types within the ARMLS database hit 97.01%, exceeding 97% for the first time since September 4, 2006. This is a very positive sign. The number has been rising rapidly since hitting a low of 93.82% on February 5, 2009. The highest reading was 99.54% reached on June 5, 2005.