REcolorado understands the value that brokers, and agents bring to the client’s experience by sharing accurate and reliable market statistics. To help ensure you are well equipped with the proper knowledge, we have compiled the most frequently used terms in our Market Stats reports. Utilize this glossary to showcase your market expertise!
Sort the data points from high to low, count the total number of data points and then find the middle of that total. The median tells us the middle value or, what is most commonly occurring in the market. This metric is preferred because it’s not affected by outlying data at the tail ends of the market.
Add up all data points and then divide by the total number of data points. This metric is not considered the most accurate gauge since outlying data can easily skew the results.
Days in MLS (DIM)
Days in MLS counts the number of days a listing has been in an Active status in REcolorado Matrix. It does not accumulate days while the listing is in Coming Soon, Pending or Withdrawn status.
Weeks of Inventory
A measure of how long it would hypothetically take to sell through all available homes currently for sale, given current levels of home sales. A balanced market ranges from four to six months of supply. A buyer’s market has a higher number, reflecting fewer buyers relative to homes for sale. A Seller’s market has a lower number, reflecting more buyers relative to homes for sale.
Year Over Year
Compares one month of data for the current year as compared to the same month of data one year prior. Example: January 2021 vs January 2020
Month Over Month
Compares one month of data to the previous month’s data. Example: January 2021 vs February 2021
Year to Date
A sum of all data points from the start of the year, January 1, to the current date. This becomes a more reliable metric as the year progresses and there is more data to compare. It is useful when analyzing trend lines from one year to the next.
Denver Metro Area
Greater Denver Metro area includes the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park.
Data used for REcolorado Market Watch reports comes from REcolorado Matrix and includes residential listings including single-family residences, condos, townhomes, and multi-family homes.