In early 2016, a new set of Market Statistics reports were added to REsearch 6 for MLS and MLS of Choice customers. These are based on monthy “snapshots” of sales data. The “classic” Market Statistics, which are updated daily throughout the month, will remain available.
The new Market Statistics includes four reports (12 Month Summary, 12 Month Charts, Monthly Comparison, Year to Date) across three report sets (Hawaii Island & Kauai, Hawaii Island, Kauai).
Market Statistics Data
Statistics are based on a specific point in time. Data is pulled just after midnight on the first day of each month, with changes updated daily for the first seven days, then “frozen.”
For example, in mid-January 2016, the current report would cover month ending 12/31/2015.
- Sales Data: Status = Sold, Sale Date <= 12/31/2015
- Actives and Under Contract: Listings with the status A,U,C at 11:59 pm 12/31/2015.
12 Month Summary
- Sales Volume: Sold date between 1/1/2015 – 12/31/2015
- Sales: Number of sales between 1/1/2015 – 12/31/2015
- Median Price: Sorted by Sales Volume ascending, Median price calculated
- Average Days on Market: Each sale DOM added together and then divided by the number of sales
12 Month Summary & Charts
- % of List Price: Sum of Sales Volume / Sum of Original Price
- Active Listings: # of listings active on 12/31/2015
- Months of Inventory: On the 12 Month Summary report it shows sales for the last 12 months. The Active Inventory number is the number of active listings at the end of the day on 12/31/2015. To calculate months of inventory you divide the number of sales by 12 (this gives you an average number of sales per month). Next you divide the Active Listings by the average the number of sales per month. This number tells you at the current average monthly sales rate it will take X months to sell the current Active Inventory.
- Under Contract: # of listings under contract (U or C status) on 12/31/2015
- 12 Month Charts: Uses the same data and charts the sales data
For a visual overview of the new Market Statistics in REsearch, click here for a PowerPoint presentation deck.
4 Responses to “How are the new Market Statistics calculated?”
John F. Friedman2016-02-09T17:43:00-10:00
please confirm that “Under Contract” includes both under contract and contingent listings
That is correct. Within the Market Statistics Under Contract includes both U and C statuses.
(guide has been updated)
Love the new changes, thank you.
In its current format, it’s not very usable though, unless I do not understand it?
So please correct me.
It needs to be split up by districts, and by Homes, Land, Condos. So to lump all the Big Island districts together as one, would be like lumping New York and Kauai together.
Land sales for instant, an acre in Puna cost $5,000. and sell by the hundreds, when an acre in Kona sells for $350,000. and sells about 10 a month, so it makes it the stats useless at this point.
Don’t get me wrong, if you do, what you have done already, but put into individual districts, broken down by Homes, Land, Condos – this would be a tremendous feature.
The Market Statistics do include various area and listing type breakdowns. On the default page being displayed (12 Monty Summary) be sure to scroll down to see all the data. You can also click through the tabs above to view the other reports.
Hopefully the solution is to scroll to see the rest of the offerings but if I am mistaken please let us know.
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