The list price to sale price ratio has adjusted with market, but not as much as you might have thought

Back in 2000, homes sold at an average of 97.4% of the list price --- now, they sell for an average of 94.7% of the list price.  That's not actually much of a shift --- only a decline of 2.7%.  A few other observations....

• At the pace of the market improves, list to sale price ratios increase, likewise as the real estate market slows, the list to sales price ratio declines.
    
  
• It is wild that homes were selling **on average** at 99.1% of the list price in 2005, as this must mean that quite a few were selling above the list price.
    
  
• Somehow, 2009 was an exciting year with the list to sale price ratio shooting back up to 99.2% -- perhaps because 2009 included one of the expirations of the home buyer tax credit?