What are the metrics at the bottom for?
Metrics represent the residential real estate topics that areas and variables pop against. Some are counts, some are calculations. Some calculations are median, some are just average. In combination, they are the primary descriptors for what makes a market tick. Only one metric can be selected at any time.
A count of the properties that have been newly listed on the market in a given month.
The number of properties available for sale in active status at the end of a given month. Also known as inventory. For this metric, the "12/6/3 months" calculation is the average of the most recent 12/6/3 months of data.
A count of the properties on which contracts have been accepted in a given month.
A count of the actual sales that have closed in a given month. Calculations are based on sold data.
The total number of sales of all transaction sides (list side + buy side) in a given month based on sold data.
The total dollar amount of all transaction sides (list side + buy side) closed in a given month based on sold data.
Median or average number of days between when a property is listed and when an offer is accepted in a given month. Calculations are based on pending data.*
The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate.
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower, divided by the number of finished square feet. Average is the mean sales price for homes sold in a given month divided by the number of finished square feet.*
Percentage found when dividing a listing's sales price by its list price, then taking the average or median for all sold listings in a given month, not accounting for seller concessions. Calculations are based on sold data.
Example: A property is listed at $200,000, reduced to $190,000 and taken off the market. Then the same property is listed again at $180,000 a few months later and is further reduced to $175,000. It closes for $160,000. We take the ratio of $160,000: $175,000 or 91.4% instead of $160,000:$200,000 because a new listing ID was issued.
Percentage found when dividing a listing's sales price by its original list price, then taking the average for all sold listings in a given month, not accounting for seller concessions. Calculations are based on sold data.
Example: A property is listed at $200,000, reduced to $190,000 and taken off the market. Then the same property is listed again at $180,000 a few months later and is further reduced to $175,000. It closes for $160,000. We take the ratio of $160,000:$180,000 or 88.9% instead of $160,000:$200,000 because a new listing ID was issued.
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower. Average is the mean sales price for all closed sales in a given month.*
* Sales with a Days on Market of less than 0, or a Percent of Original Price that is less than 50 percent or more than 200 percent, are added to the sales count but are not factored into price, price per square foot or days on market.
New Listings
A count of the properties that have been newly listed on the market in a given month.
Active Listings
The number of properties available for sale in active status at the end of a given month. Also known as inventory. For this metric, the "12/6/3 months" calculation is the average of the most recent 12/6/3 months of data.
Pending Sales
A count of the properties on which contracts have been accepted in a given month.
Closed Sales
A count of the actual sales that have closed in a given month. Calculations are based on sold data.
Total Closed Sides
The total number of sales of all transaction sides (list side + buy side) in a given month based on sold data.
Closed Volume
The total dollar amount of all transaction sides (list side + buy side) closed in a given month based on sold data.
Days on Market
Median or average number of days between when a property is listed and when an offer is accepted in a given month. Calculations are based on pending data.*
Months Supply
The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate.
Price Per Sq Ft
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower, divided by the number of finished square feet. Average is the mean sales price for homes sold in a given month divided by the number of finished square feet.*
% of Last List Price
Percentage found when dividing a listing's sales price by its list price, then taking the average or median for all sold listings in a given month, not accounting for seller concessions. Calculations are based on sold data.
Example: A property is listed at $200,000, reduced to $190,000 and taken off the market. Then the same property is listed again at $180,000 a few months later and is further reduced to $175,000. It closes for $160,000. We take the ratio of $160,000: $175,000 or 91.4% instead of $160,000:$200,000 because a new listing ID was issued.
% of Original Price
Percentage found when dividing a listing's sales price by its original list price, then taking the average for all sold listings in a given month, not accounting for seller concessions. Calculations are based on sold data.
Example: A property is listed at $200,000, reduced to $190,000 and taken off the market. Then the same property is listed again at $180,000 a few months later and is further reduced to $175,000. It closes for $160,000. We take the ratio of $160,000:$180,000 or 88.9% instead of $160,000:$200,000 because a new listing ID was issued.
Sales Price
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower. Average is the mean sales price for all closed sales in a given month.*
* Sales with a Days on Market of less than 0, or a Percent of Original Price that is less than 50 percent or more than 200 percent, are added to the sales count but are not factored into price, price per square foot or days on market.
