Definitions

Active Listings - Properties in Active status are available for sale and have no ratified contracts pending at the end of the time period.

All Pendings - This represents listings that were Contingent or Under Contract at the end of the time period, regardless of when the listings were contracted.

Average - Average is the mean value of the dataset.  The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold.  The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below. When you have outliers in the underlying data, using the median is often more reflective of the “true” trend. The average is reflective of the data if the data set is fairly homogenous. For example, the average price is less likely to be skewed by outliers if you filter the chart for a particular square foot range.   

Average Contract to Settle - For homes that sold in a given period, the average number of days between the contract date and settlement date.

Average Days to Contract - For homes that sold in a given period, the average number of days from list date to contract date.

Average Days to Settle - For homes sold in a given period, the average number of days from list date to close date (including the time between contract and settlement).

Average List Price (Actives) – The average list price for homes that ended the period as active listings.

Average List Price (All Pendings) – The average list price (at time of contract) for listings that ended the period in Contingent or Under Contract status, including those homes that entered pending status in a previous time period.

Average List Price (New Listings) – The average list price for homes placed for sale during that time period.

Average List Price (New Pendings) – The average list price (at time of contract) for listings that went to Pending during that time period.

Average List Price (Sales) – The average list price (at time of contract) for homes sold in that period.

Average List $/SqFt (Actives) – The average list price-per-square-foot for homes that ended the period as active listings. Note, the calculation used by MARKETrends is on a transactional basis, not using the aggregate square footage for all properties and then dividing by the aggregate price for all properties.

Average List $/SqFt (All Pendings) – The average list price-per-square-foot (at time of contract) for listings that ended the period in Contingent or Under Contract status, including those homes that entered pending status in a previous time period.

Average List $/SqFt (New Listings) – The average list price-per-square-foot for homes placed for sale during that time period.

Average List $/SqFt (New Pendings) – The average list price-per-square-foot (at time of contract) for listings that went to Pending during that time period.

Average List $/SqFt (Sales) – The average list price-per-square-foot (at time of contract) for homes sold in that period.

Average Sold Price – The average gross price for homes that closed during that period.

Average Sold Price (TAX) – For all home sale transactions recorded in the public records in the period, the average price recorded in the tax records.

Average Sold $/SqFt – The average gross price-per-square-foot for homes that closed during that period.

Average Sold $/SqFt (TAX) – The average price-per-square-foot for home sale transactions recorded in the public records during that period.

Average SP to LP Ratio – The Average Sold Price to (Last) List Price Ratio for homes sold in a given period. This represents the average of the ratios for the gross sales price to the final list price (at time of contract) for individual listings.  Example scenario to help illustrate:

Listing A: List Price = 1,000,000; Sold Price = 800,500; Ratio = 80.5%
Listing B: List Price = 200,000; Sold Price = 184,000; Ratio = 92%
Listing C: List Price = 100,000; Sold Price = 96,500; Ratio = 96.5%
Listing D: List Price = 370,000; Sold Price = 360,000; Ratio = 97.3%
Listing E: List Price = 150,000; Sold Price = 146,500; Ratio = 97.7%
Listing F: List Price = 200,000; Sold Price = 200,000; Ratio = 100%
Listing G: List Price = 200,000; Sold Price = 202,000; Ratio = 101%

In this scenario, the SP to LP Ratio is ((80.5+92+96.5+97.3+97.7+100+101)/7) = 95.0%.  To further clarify, we do not take the aggregate sold price for all home sales (1,989,500) and divide by the aggregate list price for all home sales (2,220,000) which would result in an average of 89.6% in the above scenario.

Average SP to OLP Ratio – The Average Sold Price to Original List Price Ratio for home sold in a given period. This represents the average of the ratios for the gross sales price to the original list price for individual listings that closed. 

Bank-Mediated - The Bank-Mediated category includes all properties indicated as a Foreclosure (REO) or Short Sale in the MLS database.

Condo/Coop - Indicates homes with either a condo or cooperative ownership.  Typically, it indicates the property is in a multi-unit building.

Current Value to Purchase for All Homes – This compares the most recent purchase price for each home in a given location and compares that price to the current value of that home based on the CoreLogic valuation model. Note, the most recent purchase price can be for a transaction last month or for a transaction back in 1994, depending on when the current owner purchased a given home.  Each home is then bucketed into value-to-purchase ranges and displayed on the dashboard for that location.

Days on Market - This metric group covers 3 different metrics related to the average time a listing is on market prior to settlement: Days to Contract, Days Contract to Settle, and Days to Settle.

Days to Contract: Calculation based upon the number of days a property is listed before receiving a contract. It is calculated based upon the property and accumulates between listings. It is the total number of days from the date when a property first comes on the market (list date) to the time is taken off the market due to a sale (contract date) or off market condition (off market date). If a property changes between Active and other statuses during the life of the listing(s), the cumulative on market time is tracked.

Contract to Settle: This is the amount of time between the date a listing was taken off the market due to a contract being received (contract date) and the date the transaction was settled (close date).

Days to Settle: This is the total amount of time between when a property first comes on the market (list date) until the date the transaction was ultimately settled (close date). For any sale in a given period, the Days to Settle equals the "Days to Contract" + "Contract to Settle". 

Financing - On the Detailed Report, this section counts the number of sold listings by the New Trust Loan Type.  Owner represents both Owner and Owner 2nd. Other includes: Government Bond, Other, Private, State/Local Gov'tProg, Tax Deferred Exchange and Unknown.

Home Size (SqFt) - The interior finished floor area (square footage) of the property.

Inventory - Inventory indicates the number of homes for sale with Active status.

Lender-Owned/REO - Real estate owned (REO) properties, as indicated in the MLS. The property is in the possession of a lender as a result of foreclosure or forfeiture.

List Price - List price is the current or last list price of a property.  

Living Area Sqft - Living Area Square Feet is the interior finished floor area (square footage) of the property.

Median - Median is the middle value of the dataset.  The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold.  The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below. When you have outliers in the underlying data, using the median is often more reflective of the “true” trend. The average is reflective of the data if the data set is fairly homogenous. For example, the average price is less likely to be skewed by outliers if you filter the chart for a particular square foot range.  

Median Contract to Settle - For homes that sold in a given period, the middle number of days between the contract date and settlement date for the series.

Median Days to Contract - For homes that sold in a given period, the middle number of days from list date to contract date for the series.

Median Days to Settle - For homes sold in a given period, the middle number of days from list date to close date (including the time between contract and settlement) for the series.

Median List Price (Actives) – For all active listings at the end of the time period, the middle list price in the series, where half the sales are listed for a lower value and half are listed at a higher value.

Median List Price (All Pendings) – The midde list price for properties that ended the period in Contingent or Under Contract status, where half the listings entered pending status with a lower value and half the listings entered pending status at a higher value.

Median List Price (New Listings) – The middle list price for properties placed for sale during the time period, where half the new listings were listed at a lower value and have the new listings were listed at a higher value.

Median List Price (New Pendings) – The midde list price for properties that changed to Contingent or Under Contract status during the time period, where half the listings entered pending status with a lower value and half the listings entered pending status at a higher value.

Median List Price (Sales) – For all closed sales in the period, the middle list price in the series, where half the sales are of lower value and half are of higher value. The list price used is the price at the time of contract, not the original list price.

Median List $/SqFt (Actives) - For all active listings at the end of the time period, the middle list price-per-square-foot in the series, where half the sales are listed for a lower price-per-square-foot and half are listed at a higher price-per-square-foot level.

Median List $/SqFt (All Pendings) - The midde list price-per-square-foot for properties that ended the period in Contingent or Under Contract status, where half the listings entered pending status with a lower price-per-square-foot value and half the listings entered pending status at a higher price-per-square-foot value.

Median List $/SqFt (New Listings) - The middle list price-per-square-foot for properties placed for sale during the time period, where half the new listings were listed at a lower price-per-square-foot value and have the new listings were listed at a higher price-per-square-foot value.

Median List $/SqFt (New Pendings) - The midde list price-per-square-foot for properties that changed to Contingent or Under Contract status during the time period, where half the listings entered pending status with a lower price-per-square-foot value and half the listings entered pending status with a higher price-per-square-foot value.

Median List $/SqFt (Sales) - For all closed sales in the period, the middle list price-per-square-foot in the series, where half the sales are of lower price-per-square-foot value and half are of higher price-per-square-foot value. The list price used is the price at the time of contract, not the original list price.

Median Sold Price (Sales) – For all closed sales in the period, the middle closed price in the series, where half the sales are of lower value and half are of higher value.

Median Sold Price (TAX) – For all closed home sale transactions recorded in the public records in the period, the middle closed price in the series, where half the sales are of lower value and half are of higher value.

Median Sold $/SqFt (Sales) -  For all closed sales in the period, the middle sold price-per-square-foot in the series, where half the properties closed with a lower price-per-square-foot value and half closed with a higher price-per-square-foot value.

Median Sold $/SqFt (TAX) – For all closed home sale transactions recorded in the public records in the period, the middle sold price-per-square-foot in the series, where half the properties had a lower price-per-square-foot value and half had a higher price-per-square-foot value.

Median SP to LP Ratio – The Median Sold Price to (Last) List Price Ratio for homes sold in a given period. This represents the middle ratio of the gross sales price to the final list price (at time of contract) across the series.  Example scenario to help illustrate:

Listing A: List Price = 1,000,000; Sold Price = 800,500; Ratio = 80.5%
Listing B: List Price = 200,000; Sold Price = 184,000; Ratio = 92%
Listing C: List Price = 100,000; Sold Price = 96,500; Ratio = 96.5%
Listing D: List Price = 370,000; Sold Price = 360,000; Ratio = 97.3%
Listing E: List Price = 150,000; Sold Price = 146,500; Ratio = 97.7%
Listing F: List Price = 200,000; Sold Price = 200,000; Ratio = 100%
Listing G: List Price = 200,000; Sold Price = 202,000; Ratio = 101%

In this scenario, the Median SP to LP Ratio is 97.3%, as Listing D is the middle value of the series when sorted from lowest to highest ratio. The median is particularly useful in larger datasets, as a handful of outliers on the low side (like 80.5% in the above scenario) can distort the trend.

Median SP to OLP Ratio – The Median Sold Price to Original List Price Ratio for home sold in a given period. This represents the middle ratio of the gross sales price to the original list price across the series.

Mobile Home – Indicates a home with a property indicator of mobile home.  This indicator is provided by the MLS.

MoM- Month-Over-Month is the percent change for a given statistic from the preceding month.

New Listings - New listings represents the number of new properties placed for sale during the time period.

New Pendings - New Pendings are those listings that changed to either Contingent or Under Contract during the time period (New Pendings=New Under Contracts + New Contingents). To clarify, there are instances where a listing goes to contract (included in the “new pendings” bucket) and is then settled in that same month (thus, also included in the “sold” bucket).

Non-Bank-Mediated - The Non-Bank-Mediated category includes properties that have not been indicated as Foreclosure (REO) or Short Sale in the MLS database. Might also be referred to as "non-distressed" or "standard sales".

Number of Auctions (TAX) - The number of auction notices filed during the period.

Number of Distressed (Combined) - The combined number of filings recorded for any stage of foreclosures (Pre-foreclosure, auction or REO) during the period.

Number of Pre-foreclosures (TAX) - The number of pre-foreclosure notices filed during the period.

Number of REO (TAX) - The number of REO notices filed during the period.

Number of Sales (TAX) - The total number of home sale transactions as recorded in public records, including non-MLS transactions.

Original List Price - Original list price is the initial price the listing was put on the market at.  While a price can be reduced over the time a property is for sale, the original list price is used in all calculations and graphs.

Pending - Pending properties are when a contract has been submitted and is ratified or in the process of being ratified.  It includes the statuses of Contingent and Contract

Short Sale - Short Sale represents a property where the sale price of the property falls short of the balance owed on the property's loan.  In some jurisdictions, this piece of information is not required to be disclosed.

Single Family – Indicates homes that are detached.  Some MLSs do not differentiate home type and all properties are located in the single family classification.  The other classifications are Townhouse, Condo and Mobile Home.

Sold Listings – Refers to those listings that went to settlement and closed during the time period.  

Sales Price - Sales price is the gross sales price.  It is the price the seller accepted from the buyer in the contract.  It excludes seller concessions.  This is also called the Gross Sales Price.

Total Active Inventory- Total Active Inventory includes those properties that were active at the end of the time period.

Townhouse – Indicates a property where the homes are attached but are not part of condo/coop buildings.   Townhouses may include rowhouses or other attached or semi-attached properties.  The MLS provides this indicator to differentiate the homes from Single Family, Condo/Coop or Mobile Homes.

YoY - Year-Over-Year is the percent change for a given statistic from the same period in the prior year.