FANNIE MAE MARKET CONDITIONS

 

This report provides the inventory analysis, median sales & list price, DOM, and list/sale ratio statistics required in Fannie Mae Form 1004MC (Nov.  2008).

 

To illustrate the boundaries of the three reporting periods, if the "lookback date" is set to Jan 16, 2009, then the three periods are defined as follows:

 

 

Note that the database used for this report does not contain a snapshot of the market per day.  Instead, data are updated continually.  For instance, if a property comes on market and remains active for 6 months, but is reduced in price over that period, only the final List Price is retained.

 

With this in mind, analysis metrics are defined as follows:

 

Total Number of Comparable Sales:  A property is included in this metric if its Closing Date fell within the period of interest.

 

Total Number of Comparable Active Listings:  A property is included in this metric if it was active for even one day during the period of interest and if its ultimate status was either Sold or Active.  Properties that went off market but did not sell (e.g., expired, withdrawn, rented, etc.) are ignored.  A property is considered active within a time period if its Off Market Date is greater than the first day of the period and its Listing Date is less than or equal to the last day of the period.

 

Median Comparables Sales Price:  If a property sold during the time period of interest (i.e., Closing Date falls between the first and last day of the period), then its Selling Price is included to compute the median for the period.

 

Median Comparables Sales Days on Market:  If a property sold during the time period of interest, its days on market (DOM) is the difference between its List Date and its Off Market Date.

 

Median Comparables List Price:  If a property was active in a given time period, then its List Price is included in this figure.  Note, our database retains only the final LP value.  If List Price had been reduced either during or after the time period of interest, only the final List price value is available.

 

Median Comparables Listings Days on Market:  Days on Market (DOM) for a given property is the difference between List Date and Off Market Date for Solds, and between List Date and the final day of the period for actives.  Properties that went off market but did not sell (e.g., expired, withdrawn, rented, etc.) are ignored.

 

Median List-to-Sale Price (SP/LP ratio):  This metric is computed only for solds, and is the Selling Price/List Price ratio.  As noted above, had the listing seen a number of price reductions while active, our database contains only its final List Price.

 

Median Seller Concession Percent (for SC > 0):  This value is computed using only sold properties that have a non-zero seller concession value.  Consequently, many fewer listings than actually were sold in a given time period may contribute to this median, assuming many sellers offered no concession.

 

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