METHODOLOGY

The charts you see on these pages were created by Apple Appraisal, Inc.

We have, combined, over 50 years in appraisal expertise and analysis among our staff and contractors.

These statistics are based on averages or medians, of information gathered from many Multiple Listing Services. They are presented here for informational purposes of current trends only and should not be considered an exact count. These statistics should not be relied upon for any portion of any basis of any financial or any other decisions. Actual statistical data and analysis that applies to an individual property can only be properly determined and analyzed by a licensed real estate appraiser, contracted for such a purpose. If you have any statistics that you would like to see included here or errors you would like corrected, please contact us.

To find the average sales prices in an area, we calculate the total value of sales in an area, over a three month time period, and divide that sum by the total number of sales during that three month time period. The intersection of "Date" and "Price" represents the average sales price for the three months prior to that date.

To find the  average number of sales in an area, we calculate the total number of sales in an area, over a three month time period. The intersection of "Date" and "Number" represents the average Number of Sales for the three months prior to that date.

To find the Average List Price to Sales Price Ratio, We calculate the total value of sales over a three month period. We then calculate the total value of the listing prices of these sales, effective at the time of their sales, and divide the sum into the total value of the sales for the three month period. The intersection of "Date" and "Average LP/SP Ratio" represents the average LP/SP Ratio for the three months prior to that date.  

It should be noted that it is getting to be a more common occurrence that Realtors will list a property and it will sit at a list price for a few months. Then the listing agent will "Re-List" the property at a lower price on a different MLS number. The net result is that you now have more than one listing for the same property and the listing that is for the sale of the property, will not reflect the true days on market or days to sell and will not reflect the true list price to sales price ratio. It is not uncommon for us to find up to 4 or 5 listings for the same property in a short period of time.

Please keep this in mind when reviewing the "Days to Sell" charts and the Average LP/SP Ratio charts. The actual figures for each are skewed, with Average Days to Sell being more than what is indicated and the Average LP/SP Ratio is lower than what is indicated.

The average Days to Sell is calculated by averaging the Days on Market (DOM) for the listing effective at the time of sale for a closed sale. This number does not take into account previously withdrawn, cancelled or expired listings. The intersection of "Date" and "Days" represents the average Days to Sell for the three months prior to that date.

The results of these calculations are then charted in a graphical form for easy comprehension by the reader.

Other statistics are completed in some areas, based on the information provided by a given local Multiple Listing Service.