The most
valuable information would be the most current, of course. A sale last
week has more validity in helping you determine a purchase price than a
sale from six months ago. The problem is that there is no actual record of
the sales price until the transaction is completed. The information is not
available in the public record because no deed has yet been recorded.
Neither is
the information available in the Multiple Listing Service. Once a property
is sold, it becomes a "pending sale" and all pricing information is
removed from the listing. Prices are not posted until it becomes a "closed
sale." This protects the seller in case the transaction falls apart and
the property is placed back on the market. It would give an unfair
advantage to future potential buyers if they already knew what price the
seller had been willing to accept in the past.
However, if
a Realtor has a reason to know the sales price, they can usually find out
through professional courtesy. Also, some real estate brokerages post
sales information on a transaction board in their office.
