Market Tracker is just what the name implies. It is a Prudential Northwest Properties tool that automaticly emails you a monthly report based on up to ten zip codes. The one linked above is for 97210 for February. The cousin to Market Tracker is Property Investment Profile (PIP) which is address specific where Market Tracker is zip code based.
The first Market Tracker after sign up normally goes out within a few minutes of being created, a new Market Tracker report will be received by the client for each zip code on the first Sunday of succeeding months. You can sign up for either by emailing me, sending me a message from of Meebo, or from TurnerRealtors.com. I need a name, up to 10 zip codes and an email address. We do not share your information.
The report contains:
i. New Listings – Actual # for last month, same month last year, Current Year to Date (YTD), and same period Previous Year’s YTD.
ii. % Change – Were there more new listings last month than the same month last year? If so, the percent change will be positive; if not, it will either be zero or negative. Are there more new listings for the current YTD than last year’s same period YTD? That will display either a positive or negative figure, reflecting the percentage increase or decrease in the number of listings. Note: This column has nothing to do with price.
iii.Closed Sales – Home many closed sales were there last month compared to the same month a year ago? How many closed sales have there been for the current YTD and how many for the previous “same period” YTD?
iv. % Change – If there were more closed sales last month versus the same month last year, there will be a positive number, representing the increase of sales over last year for that month. The same logic applies to the Year To Date lines. Note: This column has nothing to do with price.
v.Avg. Price – This column reflects the average price for homes last month, the same month last year, the current YTD and last year’s same YTD.
vi. Median Price – What was the middle closed sales price of all homes sold last month. That is the figure displayed. What was the middle closed sales price of all homes sold the same month last year? What is the middle closed sale price of all homes closed this current YTD, and what was the middle closed sale price of all homes sold during last year, same period YTD?
vii. Days on Market – This number is the average DOM only under the current RMLS number
There are four graphs:
Average Sales Price – This graph provides a one line trend of the average closed sales price for that zip code the past 36 months. Since it is tracking all residential units (not just single family detached houses) many factors can impact on that line. A rising line could mean more expensive homes were sold than modestly priced homes or it could mean the prices of most homes are increasing. It does tell you the average sale price is increasing, is stable, or decreasing.
Rate Of Appreciation – Notice the numbers on the left edge of the graph – those divide the data for that zip code into “Home Price Groups,” such as $200k – 299k, or $500k – 749k. The bottom figures show percentage of change. The two color graphs allow the viewer to then see how residential properties within certain price groups have perform the past 12 months (1 Year) and the past 36 months (3 Years).
Average Sales Price per SF – The numbers on the left side of the chart divide the data for that zip code into “Home Price Groups.” The dollar values along the bottom of the graph displays the $/SF of sold properties. The color coded lines have been labeled “Now” and “Last Year,” but it is somewhat misleading and will be changed very quickly. “Now” actually means the “Previous 12 Months” and “Last Year” really means the “Previous 12 – 24 months.” The data in this chart helps the homeowner better understand the market value of homes within that zip code.
Sales Units – This may be my favorite graph. The numbers along the left edge of the graph still divide the data into “Home Price Groups.” The same color coded lines refer to the same “Previous 12 Months” and “Previous 12 – 24 Months.” The numbers along the bottom of the graph represent the number of actual closed sales there were. As an example, I would find it interesting to know that within the zip code, in the past 12 months, 5 homes sold for over 1.5 million dollars, while 650 sold for between $200k and 299k. Also, comparing the past year with the previous year to that is revealing.