GLOSSARY
TWO-FAMILY A two-family property includes attached and free-standing two-family properties. THREE-FAMILY A three family property includes attached and free-standing three-family properties. GROSS SALES VOLUME The gross sales volume is the total amount of sales closed within a data set/neighborhood, within the given time period. PRICE PER-SQUARE-FOOT (PPSF) The price per square foot is defined as the average selling price per-square-foot within the data set. SALE-LIST PRICE Sale-List price is defined as the selling price divided by the listing price. This listing price is defined as the last asking price listed on the MLS. CLOSED SALES Figures for the year are based on closings recorded on the MLS. Years are defined as January 1st-December 31st. OMITTED SALES: A small number of sales were omitted (less than 1%). These includes properties that were fire damaged, unihabitable, or sales where the value of land exceeded the value of the property. WEIGHTED AVERAGE: The weighted average provides an accurate average across data sets, and allows some data sets to be weighed more than others. If there are ten results at 300 and one result at 200 the weighted average looks at 11 datapoints (not 2) for a weighted average of 291, not 250. How the weighted average should be used to measure different data sets is open to interpretation. The weighted average should be used with other data to provide context of data sets.
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