Closed sales: what happened
Closed sales provide the strongest evidence of completed market outcomes when the data is reliable. They are backward-looking, so the date of contract and closing still matters in a changing market.
Active listings: what buyers can choose today
Active listings show current competition. Their asking prices are not proof of value, but they influence buyer expectations and can affect how a new listing is positioned.
Under contract: where demand is moving
Pending or under-contract homes can reveal which types of properties are attracting commitments. In a nondisclosure environment or before closing, the actual contract price and concessions may not be known. Do not invent them.
Expired and withdrawn listings: what did not clear
Listings that leave the market without a sale can reveal resistance to price, condition or strategy. They are useful context but require care because the seller’s motivation may have changed.
How a defensible CMA uses the statuses
- Closed sales establish completed outcomes.
- Active listings define current competition.
- Pending listings show directional buyer activity.
- Expired/withdrawn listings show failed market tests.
Do not average unlike evidence
A clean CMA explains why each comparable is included and what role it plays. It does not treat an asking price, a rumored pending price and a verified sale as equivalent.
FAQ
Can I assume a pending home sold near list price?
No. Until reliable closed information is available, the actual contract terms may be unknown.
Are active listings useless for pricing?
No. They are crucial because they are the choices buyers see today, but asking price is not a completed outcome.
Why use expired listings?
They can show where the market rejected a prior price or presentation, subject to the facts of that listing.
Data note: Label listing status clearly and do not infer unavailable contract terms. Verified closed data and current competition serve different analytical purposes.
