GLOSSARY
SINGLE-FAMILY A stand-alone house is a free-standing residential building. It is sometimes referred to as a single-family home, as opposed to a multi-family residential dwelling. CONDO A condominium, often shortened to condo, is a type of living space similar to an apartment but independently sellable and therefore regarded as real estate MEDIAN LIST PRICE The median list price is the price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more. We refer to the median list price rather than the average list price because it is less affected by outliers or properties that skew the perceived values in a particular housing market. MEDIAN SALES PRICE (MSP) The median sales price is the price in the very middle of a data set, with exactly half of the houses sold for less and half sold for more. We refer to the median sold price rather than the average sold price because it is less affected by outliers or properties that skew the perceived values in a particular housing market. DAYS ON MARKET (DOM) Days on market is defined as the total number of days a listing is active before an offer is accepted or the listing is pulled off the market.
CLOSED SALES Figures for the current quarter are based on known closings recorded at the time the report is prepared.
QUARTERS Q1 January 1 – March 31 Q2 April 1 – June 30 Q3 July 1 – September 30 Q4 October 1 – December 31
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