Terminology

Active - Properties in Active status are available for sale and have no ratified contracts pending. The count represents Active Listings at the end of the time period.

All Pendings - This represents the number of listings that were under Contract at the end of the time period, regardless of when the listings were contracted. 

Attached/All - This facet encompasses any listing that falls into the categories of Attached.  This may include townhouses, rowhouses, condos or coop properties.  Properties that are Single Family are part of the Detached grouping.

Attached/Condo-Coop - Condo/Coop indicates a listing that is part of a Condo or Coop building.  This grouping does not include townhouses, row houses or single family homes.

Attached/TH - Indicates any attached home, shares a partial or entire wall with another property, that is not part of a Condo or Coop building.  This grouping does not include condo/coop or single family homes.

Average - Average is the mean value of the dataset.  The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold.  The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below.  Sometimes the Median Sales Price is a better indication of the market than the Average Sales Price, especially when a few sales may distort the Average Sales Price.  Example:  Ten sales are in an area. One was for $1,000,000 and nine were for $250,000.  The Average Sales Price would be $325,000 and the Median Sales Price would be $250,000.  

Average Sold Price to Original List Price Ratio - This represents the average of the ratios for the gross sales price to the original list price for individual listings.  Example scenario to help illustrate:

Listing A: List Price = 100,000; Sold Price = 90,000; Ratio = 90%
Listing B: List Price = 200,000; Sold Price = 150,000; Ratio = 75%
Listing C: List Price = 1,000,000; Sold Price = 700,000; Ratio = 70%

In this scenario, the SP to OLP Ratio is ((90+75+70)/3) = 78.3%.  To further clarify, we do not take the aggregate list price and divide by the aggregate OLP.

Contract - Properties in Contract status have a ratified contract and are pending settlement.

Detached - Detached listings are properties where there is no wall shared partially or entirely with another property.  This refers to listings that are in the Single Family property type.

Foreclosure - Foreclosures are real estate owned (REO) properties. The property is in the possession of a lender as a result of foreclosure or forfeiture.   While some information is available in the MLS regarding foreclosures, this information is primarily available from lending institutions.

Financing - On the Detailed Report, this section counts the number of sold listings by the type of new financing obtained when the listing sold.

Home Type - Detached properties (single family) are those that do not share a partial or complete wall with another property. Attached properties share a partial or complete wall with another property.   Attached is further delineated to indicate whether it is a condo or coop building vs. a townhouse, row house or similar.

Inventory - Inventory indicates the number of homes for sale with Active status.

List Price - List price is the current price or last price a property was offered at.

Living Area Sqft - Living Area Square Feet is the interior finished floor area (square footage) of the property.

Median - Median is the middle value of the dataset.  The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold.  The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below.  Sometimes the Median Sales Price is a better indication of the market than the Average Sales Price, especially when a few sales may distort the Average Sales Price.  Example:  Ten sales are in an area. One was for $1,000,000 and nine were for $250,000.  The Average Sales Price would be $325,000 and the Median Sales Price would be $250,000.  

MoM - Month-Over-Month is the percent change for a given statistic from the preceding month.

New Listings - New listings represents the number of new properties placed for sale during the time period.

New Pendings - New Pendings is a count of listings that changed to Contract during the month.

New Under Contracts - New Under Contracts is a count of listings that changed to Contract during the time period.

Original List Price (OLP) - Original list price is the initial price the listing was put on the market at.  OLP is used in the ratios such as OLP to Sales Price Ratio.

Pending - Pending properties are when a contract has been submitted and is ratified or in the process of being ratified.  It includes the statuses of Contingent and Contract

Ratio of Average Sold Price to Average List Price - This is the ratio of the aggregated average gross sold price to the aggregated average original list price of the listings.  (See also - Average Sold Price to List Price Ratio.)

Solds - Solds represents the number of units sold for the time period indicated.

Sales Price - Sales price is the gross sales price.  It is the price the seller accepted from the buyer in the contract.  It excludes seller concessions.  This is also called the Gross Sales Price.

Single Family - Any property belonging to the Single Family property type, whether detached or attached, are included in the Detached grouping for Home Type.  See the explanations for Detached and Attached properties for further explanation.

Total Active Inventory - Total Active Inventory includes those properties that were active at the end of the time period.

Total Pendings - Total Pendings includes those properties that were pending at the end of the time period.

YoY - Year-Over-Year is the percent change for a given statistic from the same month in the prior year.