Choosing Median vs Average for metrics
Some stats programs give the user the choice between using Median or Average aggregations for metrics. Domus typically does not offer that choice, and the reason is simple. The decision to choose between Median and Average for any aggregation is mathematically determined by the distribution curve of the data. In other words, it isn't a "choice" the end user should be tasked with making. In some situations, Median is more accurate. In others, Average is preferred. And in some situations, they both converge to the same result, so having a choice is redundant. Making the user of a dashboard choose which aggregation to use may seem like a "feature" on the surface, but it leads to unnecessary complexity, and can result in the agent conveying inaccurate economics to their clients. So rather than putting that burden on the user, we just give you the correct answer.
The difference between Median Price and Average Price
Median Price and Average Price are commonly reported metrics in the real estate market, but they are very different. Let’s step back to college statistics class to revisit them both, and learn why Median is preferred for housing prices. Average: the ...
What are Seasonal metrics?
Some metrics are discussed in terms of being "Seasonal" or not, so what does that mean? Put simply, a seasonal metric has some type of observable and consistent pattern that repeats over several time periods. The best examples of this tend to be ...
The Difference between Year to Date and Annualized metrics
In Market Insights, choosing the 'By Year' time period gives you the additional option of choosing 'Year to Date' or 'Annualized' as the aggregation against which to compare the current year results. Note that the current year on the chart AND the ...
The Lifecycle of Listing Metrics
There are lots of metrics that can be used to evaluate the real estate market, and they're all related to specific dates in the listing lifecycle. For example "Number of New Listings" are counted based on the Listing Date, and "Number of Closed ...
Active Inventory is the number of properties available for sale.in an active status at the end of the month, based on the purchase contract date. Absorption Rate or Months Supply of Inventory is the number of months it would take to sell through the ...