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.*
Original List Price
Median or average of the first price of a home listing.
Price Per Square Foot
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.*
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 sold data.*
Percent of Original Price
Percentage found when dividing a listing's sales price by its original 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:$180,000 or 88.9% instead of $160,000:$200,000 because a new listing ID was issued.
Months Supply
Active inventory vs. the last 12 months of homes deemed Under Contract. Also known as absorption rate.
Homes for Sale
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.
New Listings
A count of the properties that have been newly listed on the market in a given month.
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.
* 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.
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