I was asked the other day why one block had 4 homes listed for sale? My answer was, "often a home sells for a high price and it gets the attention of the entire neighborhood kicking off other home owners to sell (move up/move down/capture their equity the old fashion way). Of course the 'other side' of this question is the concern that something negative is going on which only the current neighbors know about. Compounding this scenario are the stories from Las Vegas, parts of Florida and Southern California where the foreclosures bring down values and have back HOA dues. Fortunately with inspections, deed restrictions, HOA by laws being shared & title insurance investigations much is learned before closing.
I went ahead and researched this exact street and sure enough, 4 months ago a home sold for a higher price per sq ft than seen in years. The "high price sale" also requires knowing the specifics; how big is the home? what upgrades are in this home? how is the landscaping? what is the condition? how easy was it to show?. Without realistic data this one confirmed / sold home can lead to a few over priced listed homes that sit for a long time AND really frustrate the owners.
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