SINGLE FAMILY HOMES

 

CLOSED SALES – A count of the actual sales that have closed in a given month. Calculations are based on sold data.

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AVERAGE SALES PRICE – The mean sales price for all closed sales in a given month.

MEDIAN SALES PRICE – Median represents the point at which half of the homes were priced higher and half were priced lower.

Prices do not account for seller concessions.

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AVERAGE PERCENT OF LAST LIST PRICE – Percentage found when dividing a listing’s sales price by its 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: $175,000 or 91.4% instead of $160,000:$200,000 because a new listing ID was issued.

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AVERAGE DAYS ON MARKET – Average number of days between when a property is listed and when an offer is accepted 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.

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MONTHS SUPPLY OF HOMES FOR SALE – 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.

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NEW LISTINGS – A count of the properties that have been newly listed on the market in a given month.

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HOMES FOR SALE – The number of properties available for sale in active status at the end of a given month. Also known as    inventory.

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 PENDING SALES – A count of the properties on which contracts have been accepted in a given month.