Searches on Big Three listing sites yield different results

StreetEasy, Zillow and Trulia's bring varied approaches to pricing in New York
August 18, 2014 03:40PM

When looking for an apartment in New York, potential buyers and renters rely on a bevy of different listings sites to glean information such as a property’s price per square foot.

But searches on StreetEasy, Zillow and Trulia may yield three different sets of numbers.

The discrepancy comes from the three platforms’ use of different metrics to glean their pricing info and varied approaches to conveying listing information, according to a BrickUnderground breakdown of how each site handles its respective numbers and stats.

StreetEasy calculates its average prices per square foot by taking an average of all active resale listings in an area. But this number — which can be found on the StreetEasy website — does not include new developments, which means that the pricing might not apply if you’re looking for a brand new condo. New developments are incorporated into metrics for market reports.

Zillow, meanwhile, uses an area’s median listing price, rather than average price. A listing price mostly demonstrates what a seller would like to get for their property, rather than what someone will actually pay.

And Trulia uses another system, basing the number on an average of recorded sales, which are deals that have been finalized and filed with property records. The numbers are recorded on a rolling three-month average. While sale prices may give an accurate number, an average includes the extreme outliers that could alter the numbers, according to BrickUnderground. [BrickUnderground] — Claire Moses