Why do real estate metrics change over time?
One month, a market report shows 300 homes for sale, and the next month the report shows only 298 homes for sale. Yep, that happens. Real estate data, by its very nature, is always changing. Maybe an agent entered a status change a few days late, or didn't enter a new listing for several days after it was active - any number of things can happen in a given month that impact the data. It doesn't mean the first number reported was wrong, it means that the system received new information that it didn't have before. One of the benefits of an interactive platform like Domus Analytics is that it accounts for all that new data, to always present the true picture of what happened in the market.
Even so, some users would prefer that the data never change. Well, not only is this not really feasible in a real-time database, but it would be wrong. Just because a report didn't display all of the New Listings on a given date, doesn't mean that they didn't exist. Market reports, when they're done right, should accurately reflect the state of the Market, and not be artificially locked in to the state of the data on a given date.
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 ...
Why use a 13 month time period?
Market Review displays a 13-month spark line for each metric. If you're wondering why it isn't just set to one year, you're not alone. The first thing to understand is that metrics are only interesting in relation to something else. If you read a ...
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 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 ...
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 ...