New Format for Market Updates
by Steve Leung | Contact Steve Leung w/ Questions
My previous market updates have focused on analysis of year-over-year statistics, particularly with respect to medians around Silicon Valley cities. The numbers are useful, but what I really want to provide my clients with is an intuition of how far that money goes and what the snapshot of today’s market looks like.
With that goal in mind, I’ve added some information to my market updates. I think, as of today at least, that this site is the only place you’ll find this information.
The first addition I call "The Median Home", literally the home that is the statistical median for that period in that area. (Sometimes there will be more than one.) I’ll also add representative homes and multi-family interests that cover the spectrum of completed sales in that city. Condominium complexes and many communities have their own micro-climates which I also cover individually in my Neighborhood Notes.
The second addition I call the "Active CDOM". DOM is days-on-market and I have some opinions about its usefulness. The CDOM, or continuious days-on-market, is an improvement which takes into account "rolling back the odometer". The Active CDOM is a snapshot of how long the properties currently for sale have been on the market (as opposed to the ones that sold). When compared to the CDOM, it gives a rough indication of the quality of the properties on the market.
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August 29, 2007 | Filed under: Market Updates
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Steve - Great addition to your market reports. We are a visual society — and by painting a picture of what they’ll get for their money should help you close more clients. i might “borrow” it for our site ;-) - Toby