MLS statistics

[J Grant]

You can clean up the data as it is generally corrupted to some degree (see attached). You then make your own chart within excel.
(did not intend to circle last date at bottom of sheet)

I already reviewed the data and excluded some sales before populating the data for the trend graph.

 

[BRCJR]

I already reviewed the data and excluded some sales before populating the data for the trend graph.

Unless you are looking at input on every datasheet you are probably using some corrupted info.

Do it both ways and see if the results are the same.

Your way and the excel export and cleaning up the data.

Create two charts. I bet they are different. They may be close but one will be utilizing some corrupt data.

 

[J Grant]

What do you mean by corrupted info?

 

[BRCJR]

What do you mean by corrupted info?

Did you look at my attachment? That is from the MLS datasheet entries exported to Excel. That information would be in your chart if you do not scrub the information populated within the MLS software program.

I circled the corrupted data in red. I inadvertently circled the last date at bottom.

Sold prices, DOM and dates sold are skewed from direct MLS usage of the information.

 

[alebrewer]

If anyone has Flex MLS ( which seems a system common in many areas )
I can save people pain if interested cause it took hours to find the simplest way to run a statistical chart for trend line market conditions-
1) do a quick search area, property type etc ( as you normally would search) for sales or listings or whatever you want
click view results
go up to the upper left click Menu
scroll down to statistics, click it , and it will give choices of a chart or different options and when it shows it you can refine it by lower part check median price or average or both etc

you can print the chart and save it to pdf and add it to the report or export it to wherever -

Good stuff, J, and thank you for sharing with others.

 

[alebrewer]

To BRC's point, dropping the data into Excel just gives you a few more options WRT 'perking up' the chart (see below for an example). That said - what you've laid out herein is a really great starting point - and IMO would be sufficient for graphical representation of the data that you're analyzing.

 

[alebrewer]

J mentioned Flex, but for those using CL/Matrix, similar functionality is here:


Then here:



Then add your parameters and click 'Customize' here:



Then click 'Past 12 Months' and 'Generate' here:



And it will generate a chart like this:



This chart can be used as a standalone in your report (along with your commentary/analysis), or you could (to BRC's point) drop to Excel here:

 

[Terrel L. Shields]

What is the advantage of exporting it to Excel?

The trendline function in Excel allows me to straight line (which above I did manually, therefore it is not accurate, maybe close but not so) But I can also apply a running average, log scale, or power law. Power law is extremely important when running numbers on lot size. If you use say, large acreages (100 plus acres) then down to 10 then 1 or less acres, those smallest units will need something besides a straight line. They increase at exponential rates.

 

[Mejappz]

Unless you are appraising in a very homogenous housing market, single variable regression is useless, regardless of what Fannie or anyone at True Footage says. You may as well check stable.

 

[alebrewer]

Unless you are appraising in a very homogenous housing market, single variable regression is useless, regardless of what Fannie or anyone at True Footage says. You may as well check stable.

How would adding other independent variables to a model that models time and price make that model a better model?