Stats & Numbers: Single Family Home Sales 09/07 vs. 09/08
October 21, 2008 – 6:44 am | by thefrontsteps
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NUMBER OF UNITS is the equivalent of number of sales/transactions. For condominiums, each unit is treated as a sale. For 2- to 4-unit buildings, the “building” is treated as a sale.
NUMBER SOLD is the number of properties in the market segment that closed escrow during the month.
NUMBER FOR SALE is the number of active properties on the market for one day or more during the month.
MEDIAN PRICE (SOLD) reflects the “middle” price point of a group of properties that have successfully closed escrow on a monthly basis, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good indicator of the direction market forces are moving.
If the percentage change is positive between the two periods then there is upward pressure on prices in that market segment. If the percentage change is negative between the two periods then there is downward pressure on prices in that market segment.
AVERAGE DAYS ON MARKET (DOM) reflects how long it has been taking (on average) to draw an offer on a reasonably priced property exposed to the market. The AVERAGE DAYS ON MARKET is defined as: The average number of days it took all of the properties that went under contract during the period to accept a first position offer.
MONTH’S SUPPLY OF INVENTORY (MSI) is a measure of how long it would take, in months, to sell the existing inventory at the current sales rate for the specific neighborhood and property type. The MONTH’S SUPPLY OF INVENTORY is defined as: The number of active properties on the market for one day or more during the month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract during the month.
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Data provided by Terradatum. For additional information about market statistics and/or additional information about Terradatum’s products and services, please call Terradatum at 1-888-212-4793 Ext. 2 or send e-mail to info@terradatum.com.
Tags: charts, median sales prices, single family home, statistics
One Response to “Stats & Numbers: Single Family Home Sales 09/07 vs. 09/08”
By 44yo hipster on Oct 21, 2008 | Reply
di’cha check out the DQ #’s for sept…ouch! http://www.dqnews.com/News/California/Bay-Area/RRBay081021.aspx
and the #’s on this chart don’t paint a much better picture. especially with the financial/stock market/oil price melt down, man, alot (most) investors are taking a big hit on their portfolios. even kerkorian got his ass handed to him on his activist investment forays with ford motor co. and just wait, the shit is going to hit the fan big time for oil rich nations (think: russia, saudi arabia, iran.)
so…i guess taking a 10% hit on SF investment property values (while the rents have continued going up) is *really* minor. i have friends who lost 30% of their stock portfolio in 3 weeks. and others i know who lost > 30% in RE investments in so cal in the last 2 yrs. those who own in SF should thank their lucky stars, methinketh.