David Rathgeber's
Market Report
LOCAL MARKET SUMMARY - METHODOLOGY
I began compiling data for the Monthly Market Report in 1990. Since that time, I have personally collected data from the Realtors’ MLS system early in the morning on the 1st day of every month. As you know, the most important statistic is the months supply of homes on the market: the Market Index. To obtain this, the number of homes on the market is divided by the number of contracts that were entered in the previous month. The Report’s focus is resale homes: Rental properties and new homes are excluded from the calculations as both are very different markets. Separate data are collected for detached homes, townhomes, and condominiums and for various geographical areas. Results are promptly emailed to several hundred friends.
Why do I do this? To provide my active clients with the very best and timely information anywhere. Many other market reports are two to four months out-of-date because they are based on closings, not contracts entered and are generally not published in a timely manner. Some reports may be distorted by rental and new home information, none of which is pertinent. Over the years, some very interesting facts have been uncovered. The most important of these is that the best month for home sellers is March, not June to August as the others keep telling us. What they are saying sounds right, but the data prove otherwise. Finally, it bears repeating (again and again) that although data can be collected and averages can be calculated, there is no national real estate market. To know what is happening in our area, we must use data only from our area. As always, your comments and questions are welcomed. Enjoy! David Your Friend in Real Estate |