By Eric Berman, MAR Communications Director
Both local and national news outlets turn to MAR for housing data about Massachusetts each month. But did you know that the media only has access to a fraction of the data that members do?
In fact, MAR produces a comprehensive 11-page Monthly Indicators Report that combines all the sales data from the three Realtor®-affiliated MLSs in Massachusetts (Berkshire County Board of Realtors® MLS, Cape Cod & Islands Association of Realtors®, Inc., and MLS Property Information Network, Inc.) for members only. Each report is chock full of data that you can use to not only be better educated about what is going on in the market, but it can also be used in your initial client presentations.
The following is a page-by-page breakdown of what is available in the Monthly Market Indicators report for you to easily find what you are looking for and make the best use of the report:
• Page 1: Written commentary on the market by the research manager of 10K Research and Marketing, Inc. a few “quick fact” and a table of contents of what is included in the report.
• Page 2 &3: These pages are what would be considered an executive summary of the entire report. Page 2 is focused on single-family sales and page 3 is focused on condominium sales. There are small line graphs, monthly year-over-year data and year-to-date comparisons.
• Page 4: Closed Sales – A count of the actual sales that have closed in a given month. The formats of pages 4-12 are identical. They each include bar charts, 12 months of data including year-over-year change and 12-year historical line graph.
• Page 5: Median Sales Price – Median price point for all closed sales in a given month (not accounting for seller concessions).
• Page 6: Housing Affordability Index - The index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates.
• Page 7: Inventory of Homes for Sale - The number of properties available for sale in active status at the end of a given month.
• Page 8: Months of Supply of Inventory - The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
• Page 9: Days on Market until Sale – The average number of days between when a property is listed and when an offer is accepted in a given month.
• Page 10: Percent of Original List Price Received – The percentage found when dividing a property’s sale price by its original list price, then taking the average for all properties sold in a given month (not accounting for seller concessions).
• Page 11: New Listings – A count of the properties that have been newly listed on the market in a given month.