When you click on my “Real Estate Market Reports“ tab on my website, you will be taken to the latest report for any of the cities that I have chosen to review. (I will probably add more cities in the next few months.) Although I have been working with these for a few years, I realized that it isn’t obvious to everyone how much information is actually provided by them, so this is to give a brief lesson on how to read them.
Average Price or Median Price Charts
Select the “Average Price” or “Median Price” tab.
The graph will show the last 12 months of average list price or median price, along with average or median sold price.
Select a month to view the details
You can review the asking price and the sale price for each of the last 12 months.
Number of Listings
Select the “Number of Listings” Tab
For each month, you can see how many homes came on the market (“New”), and how many closed escrow (“Sold”).
On this report, you can see that except for January, there have been more sold properties than new listings each month since October. When this happens, the supply of homes is decreased and buyers have less choices of homes. This results in many buyers trying to buy the same house! (We are currently experiencing multiple offers on almost all homes priced under $500,000!)
The # of Days on the Market does not look like it has decreased much, but this is mostly due to the inconsistency of how agents report sales. (See my post about it here.)
Monthly Details
The list of homes sold during any month may be sorted by “Asking Price” or “Sold Price”. Click on the column heading to sort it the way you like.
For any home listed, click on the address line, and it’s location will be shown on the map. You can get more details by clicking again on the popup form and see the # bedrooms, # baths, and square feet.
If you have any questions or would like me to prepare a report of a different area, please contact me!
Vicki Lloyd, MBA, Realtor®