Hello, just wondering what timeframe the sold to for sale ratio covers? 3 months, 6 months, 12 months? In other words, if the Sold to for Sale ratio is "1", for every property for sale 1 property has sold in the last ???? amount of time?
I aksed this question a while back. Here's the re...
You're very welcome, John! I'm glad I could help. Also, both ratios are calculated the same, however, the difference is that our sold to for sale ratio uses all of the comps in our database, whereas our sold to listed ratio uses comps in our database only within a certain timeframe (i.e. all, 12 months, 6 months, or 3 months).
So for our sold to for sale ratio, the for sale comps may vary because it's everything that is currently listed on the market during our last update and then we currently look at sold comps that go back 12 months for all of our sources, except for Lands of America (LoA). The only reason why we don't do this for LoA is because they don't provide us with sale date information.
However, if you want to use our sold to for sale ratio within only a certain time frame, I would recommend using our sold to listed ratio instead as a potential option (i.e. 12 months, 6 months, 3 months). Below is a video link from our YouTube Channel that highlights this ratio!
I aksed this question a while back. Here's the re...
You're very welcome, John! I'm glad I could help. Also, both ratios are calculated the same, however, the difference is that our sold to for sale ratio uses all of the comps in our database, whereas our sold to listed ratio uses comps in our database only within a certain timeframe (i.e. all, 12 months, 6 months, or 3 months).
So for our sold to for sale ratio, the for sale comps may vary because it's everything that is currently listed on the market during our last update and then we currently look at sold comps that go back 12 months for all of our sources, except for Lands of America (LoA). The only reason why we don't do this for LoA is because they don't provide us with sale date information.
However, if you want to use our sold to for sale ratio within only a certain time frame, I would recommend using our sold to listed ratio instead as a potential option (i.e. 12 months, 6 months, 3 months). Below is a video link from our YouTube Channel that highlights this ratio!
Link: Sold to Listed Ratio Map Example
Love to know this, too!