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Anyone working with statistics knows it only takes a single small change to make a LARGE change in the stats.For example: Enter 1 mobile home transaction with the square footage reported as 1 sq. ft. and it will take you from $81 a sq. ft. to $6,728 sq. ft. very quickly. This is for the overall average for all mobile homes sold in April 2008.
When you apply this to the overall stats for the 1000 closed transactions in April 2008 and the average price per square foot goes from $140 to $197.
Because I look at these statistics day in and day out I knew there had to be something wrong. doing a search from smallest sq. ft. to larges quickly showed where the issue was to be found.
Amazing isn’t it how one small thing can have a huge impact and it is an ERROR!
If you didn’t know this was an error you would think the best selling Tucson Real Estate for Price Per Square Foot would be mobile homes going for $6,728 a square.
Worse yet, imagine someone using the average price per square foot of $197 to establish the asking price for their home being put on the market.
Let’s be careful out there as we start a new week. Numbers can be a tricky thing.
