New market indicators added above the fold

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January 31, 2007

market_indicators.gif I added some interesting (to me anyway) real estate market indicators to the top of the Front Page. I won't go into a lengthy explanation here; the definitions are at the bottom of the Northern Virginia Daily Market by the Numbers tables.

One of the most interesting is what I might call the Leading Price Indicator (Price ↑↓). This is simple the percentage increase in the list price compared to the list price of current solds (30 day average prices) adjusted by the list to sold percentage. It stands to reason as the average contract list price increases, the average sold price will follow in the short term as those contracts go to closing. This is a short term indicator only.

The other is Backlog. It is simple how many months it would take to sell the current inventory at the current sold rate.

I'll have all these charted in the next few days or so as I have time. Market watchers: enjoy!

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Comments

David Dickinson made the following comment on February 7, 2007 9:42 AM

This is a great daily indicator. Is it just me, or are the numbers for Loudoun, and moreso for Fairfax, getting better by the day?


Merv made the following comment on February 4, 2007 12:41 PM

Alex, Thanks for the comment. Fairfax is only Fairfax County. I spend at least an hour every morning extracting this data from the MLS. I would love to do Arlington and Alexandria too but, just don't have the time. Maybe in the future.

Thanks again.


Alex made the following comment on February 3, 2007 10:56 AM

Love the tables. Is Alexandria/Arlington included in Fairfax? If not, could you make entries for them as well?


Alby [TypeKey Profile Page] made the following comment on January 31, 2007 12:39 PM

Its good to see Loudoun's Intensity has fallen 10%-15%. But its still a LONG road back to to positive numbers.


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