Check it out! As Realtors, we get a nifty little report (Advantage Online) sent to us from the very San Francisco Association of Realtors we sometimes criticize. (Hey! We’re allowed to vent.) And like countless other real estate blogs in SF, we bring some of the data to you.
Well, SFAR has teamed up with Terradatum and will be modifying the “fast facts”, and we’ll be bringing the new version to you.
Follow the break to read the details on the new “fast facts”…
As reported previously, the San Francisco Association of REALTORS® is working with Terradatum, the award-winning real estate technology solutions company, to enhance the presentation of market data appearing in the Fast Facts section of REALTOR® Advantage Online each week. Beginning with the August 12, 2008, issue of the publication, and continuing weekly thereafter, the Fast Facts section will provide a snapshot of market statistics for San Francisco and Daly City. A different property type will be featured each week (i.e., Single Family Homes, Condo, 2-4 Units) and statistics will be given for each district 1 through 11, for the city overall (Districts 1-10) and for Daly City (District 11).
NUMBER SOLD reflects 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 that 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.
MONTHS 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 MONTHS SUPPLY OF INVENTORY is defined as:
The number of active properties on the market for one day or more that month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract for the month being measured.
[We’d like to remind you, if you want real time sold properties reports, new listing reports, open house search, direct access to MLS, a list of SF foreclosures, charts, data, graphs, and so much more all under one roof, sfnewsletter, has been doing exactly that for more than four years…and counting.]