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Understanding your Market Tracker

When you are trying to sell on your own it is hard to get up to date information. Most websites that promise it are relying on tax records…those are usually at least 3 months behind. My data is straight from the MLS, which requires the agents to post updates within 4 days.
 
The Market Tracker Report tells you what is happening within your specific zip code, providing trends and sale statistics for last month, Year to Date, and even back three years.  It even breaks much of the information into price levels, which can make it very relevent to your particular situation!  Let's examine the various parts of the report.

Market Summary Section:

  1. Date Column – Lists the past calendar month and the same month last year; the current Year To Date (YTD) and the previous year’s YTD
  2. New Listings Column – Compares how many new residential listings came on the Market Last Month vs. the Previous Year’s same month, and the Current and Past Year’s YTD
  3. % Change Column – If more homes came onto the market last month than the same month last year, the percentage will be a positive number; the same logic works for the YTD lines – this column has nothing to do with price, just how many listings were available to buyers
  4. Closed Sales Column – How many homes were actually sold and closed last month and the same month last year, and how many were sold and closed the current year to date and last year’s YTD
  5. Average Price – For last month, it’s the total sold dollars of homes that were sold divided by the total number of homes sold. Use the same logic for each of the other three lines and you’ll see if the average price is rising or falling
  6. % Change – If the percentage is positive, average home prices rose; if the percentage is negative, they dropped. The same logic applies for the calculation comparing the current YTD with Last Year’s YTD.
  7. Median Price – This is the closed sale price of the middle property (sorted least to most expensive) that actually sold and closed. If 100 homes sold last month, what was the closed sale price of home # 50?
  8. Days on Market – This is the average number of days a home was for sale from the time the home was listed until the owner accepted an offer. It does not include the time the home was in escrow after the owner accepted the offer. It also cannot tell if a home was for sale and didn’t sell, and the owner then put it back on the market. This number only represents the days on market for the current listing.

Four Graphs:

Average Sales Price – This line shows the general price trend of the past 3 years

Rate of Appreciation – This breaks up the homes into price groups, so the seller of a home for $300,000 isn’t having the appreciation/depreciation rate affected by $1,000,000 homes.

Average Sale Price per Square Foot – Again this graph is broken into price groups. It compares the past 12 months to the past 12 – 24 months.

Sales Units – Divided into the price groups, how many homes actually sold the past 12 months compared to the previous 12 months?