A new option for Overall Trend Stable Range has been added to the Market Conditions Addendum Report. Users will be able to add a high and low limit and save the Stable Range for use when running the report. The report has also been updated with columns displaying the Year 1 Overall Trends and Year 2 Overall Trends.
Overall Trend Stable Range
The option to use a Trend Stable Range has been added to the setup for the Market Conditions Addendum Report which allows the user to apply a High and Low Limit for the range by percentage.
Note that this is an Optional feature for the report.
Overall trends are calculated for all rows reported. The overall trend compares the latest reported period against the most current reported period. If the variance is greater than the high stable range value the trend is Increasing. If the variance is less than the low stable range value the trend is Decreasing. If the stable range is not input by the user the high and low stable range values will be 0%. If a valid comparison cannot be made due to a lack of data, the overall trend will be reported as stable.
Explanation of Results Definitions at the bottom of the report:
- The overall trend compares the latest reported period with the most current reported period. If the latest or most current reported period does not have a value it is not used in the overall trend calculation. If three or more reported periods in Year 2 have no value then the overall trend will be reported as stable. If two or more reported periods in Year 1 have no value then the overall trend will be reported as stable.
- The overall trend is reported as stable if the difference between the compared periods falls within the stable range selected by the user. All differences higher than the high limit of the stable range are increasing. All differences lower than the low limit of the stable range are decreasing.
- The overall trend for Total # Comparable Sales and the Absorption Rate use the same calculation. The overall trend for both values will be the same.
- The Total # of Comparable Active Listings is determined using data from a single date in the reported time period. There is no need for further calculations to determine the intermediate trend for this value.
- The Median Sales Price/List Price ratio is calculated independently for each listing in the reported time period and the median of those values is reported. The value cannot be calculated using any of the data in the report form above.
