INVENTORY: Tabulated on the number of properties that have been listed for sale at any time during the given period of time.
CONTRACTS SIGNED: Numbers for the given period of time are based on properties that have gone to contract during the given period of time as gathered from information shared by the brokerage community. The numbers do not reflect contracts that have been signed-in previous periods of time and have yet to close. The contracted price reflects the last available asking price prior to going to contract. This price may or may not be the same as the recorded sale price.
RECORDED SALES: The total number of sales for the given period of time is based on the number of confirmed sales recorded during the given period of time.
MEDIAN PRICE: The middle sales price of a given dataset.
AVERAGE PRICE: The sum of all sale prices divided by the total number of properties sold during the given period of time.
MONTHS OF SUPPLY: The estimated time it would take to sell all currently active listings based on the trailing 12-month sales rate.
DAYS ON MARKET: Represents the time frame that a property has been on the market, from the first day it was introduced to the market until the day the property closes. The continuum of time is continuous unless the property has been withdrawn from the market for 90 days or longer. The clock runs continuously no matter if multiple brokerage firms have represented the listing.
DISCOUNT: The percentage difference between the initial list price of a property and the recorded sale price.
LOFT CALCULATION: The calculation for the LOFTS category is based on whether the individual apartment is listed as a LOFT or if the building itself is listed as a LOFT building. So, if an agent lists an apartment as a loft in an individual building which is not designated as a loft building it will still be categorized as a loft for the purpose of these statistics. On the flip side if an agent lists an apartment as a traditional apartment (i.e. two-bedroom) in a building which is categorized as a loft building, it will count in the loft statistical analysis as well. At the same time, these loft apartments are all counted as traditional apartments and are categorized with the given bedroom count.
At the end of the day, the loft analysis is independent of the overall statistics for the particular time frame.