I have been tracking numbers for probably close to three years now and have gone through tons of changes in what I track and how I track it. Just this last year eliminating an emphasis on the distressed market as we are no longer in a heavily distressed market (though, I do still track distressed activity).
The biggest change however has come recently in starting to track all 13 individual RMLS “Areas” that make up the Portland Metro real estate market in addition to the overall Portland Metro market. This change has been a difficult one at best as I am often finding a need to fine tune things; then it must be fine tuned 14 times (13 markets plus the 1 overall Portland market).
As an example, in preparing this post I realized I was taking a daily “snapshot” of the previous week worth of sales activity to generate the portion of my reports that show:
- Inventory in days
- Average days on market for sold homes
- Average price per square foot for solds
- Average list price when sold
- Average sale price
- Average percent of list price paid