Median Sale Price as % of List Price

[Anthem]

The guy at fannie that deals with the software company specifically said that it should not be calculated by dividing the Median Comparable Sale Price by the Median Comparable Listing Price OF ACTIVE UNSOLD LISTINGS? Obviously appraisal software could figure this once you entered the numbers.

HH is wrong

 

[John Adams]

2 things
1) FNMA addresses this question (#8) in their latest FAQ found on efanniemae.com. Do not divide Median Sale Price by Median List Price. Analyze SP vs. LP for each settled comp.
2) Run your ACI WebUpdates since they updated their software 03/27/09 and removed SP as % of LP calculation since they realized it was incorrect.

 

[Phil Snyder]

I am still confused on this, even though I probably shouldn't be.

So, it's NOT median sales price divided my MEDIAN list, correct?

And, since it is not, what is the median SP divided by to get the percentage?

 

[Phil Snyder]

Other reason I ask this is because my cell preferences seem to want to be set at "Round to 1" in order to keep it from adding ".00" or other numerals to the cell.

This is confusing me because somehow when I import the data I get "100" for the first cell a lot of the time.

 

[Phil Snyder]

This is confusing me because somehow when I import the data I get "100" for the first cell a lot of the time.

Which, is I guess because in some data sets, the LIST price is something less than the sales price (for whatever reason)

 

[The Bob]

....what is the median SP divided by to get the percentage?

The list price. Take every closed sale and divide by the last list price, that is your SP:LP ratio for each CLOSED sale. Now calculate the Median of those numbers.

Its confusing the way its worded, It should say "Median of the SP/LP"

 

[Phil Snyder]

The list price. Take every closed sale and divide by the last list price, that is your SP:LP ratio for each CLOSED sale. Now calculate the Median of those numbers.

Its confusing the way its worded, It should say "Median of the SP/LP"

The median of those PERCENTAGES.

??

 

[Mike Garrett RAA]

That God we are all in agreement! LOL. I always took it to mean the median of the LP/SP of the sales used in the analysis. Those numbers are readily available for all three periods.

 

[Phil Snyder]

That God we are all in agreement! LOL. I always took it to mean the median of the LP/SP of the sales used in the analysis. Those numbers are readily available for all three periods.

Sure, getting those numbers is one thing. But, I guess if you are doing it manually (god help ya) you are then supposed to divide every single LP/SP to get a percentage, then find the median of THAT?

I am using George Hatch's .EXL form, it just looks odd the way it is doing it. I'm not getting any decimal numbers, in other words, just 97%, not 97.25%.

Seems like it should be showing me two more decimal places.

 

[Em Tee]

Sure, getting those numbers is one thing. But, I guess if you are doing it manually (god help ya) you are then supposed to divide every single LP/SP to get a percentage, then find the median of THAT?

I am using George Hatch's .EXL form, it just looks odd the way it is doing it. I'm not getting any decimal numbers, in other words, just 97%, not 97.25%.

Seems like it should be showing me two more decimal places.

REALLY? Are you kidding? A quarter of a percent? That's like the people who measure GLA down to the inch. We aren't rocket scientists. :Eyecrazy: