Sold Homes Ratio or Odds of Selling Homes in Middlesex County, New Jersey
You may have heard of Sold Homes Ratio or Odds of Selling Homes as statistical tools used in the real estate industry. Those numbers are fairly easy to calculate with source data from multi listing systems. As you know, not all homes listed through a listing agreement are actually selling. Basically a sold homes ratio provides the number of listings that successfully sold during a time period within a specific area versus the number of listed homes.
Middlesex County NJ Sold Homes Ratio - Example
Lets say we want to calculate the Sold Homes Ratio or Odds of Selling Homes for 2012 for a specific area (city, zipcode or neighborhood). We would run a query to return all listed homes during that time period (i.e 20 homes listed) and the homes that sold (i.e, 15 homes sold). The percentage ratio (15/20*100) would be 75%. For this example, 75% of homes listed during that year and that area have sold.
Pretty simple isn't it? Actually, it is a bit more complicated. The sold homes ratio in most cases when the data is pulled from a MLS refers to listing contracts rather than individual homes, meaning the same home could have been listed more than once during a year. Consequently the ratios below are for sold listings.
Sold Homes Ratio or Odds of Selling by City in 2012* (Middlesex County)
|Middlesex County Cities||Number of Homes Sold||Number of Listings||Sold Listing Ratio or Odds of Selling (2011)|
* Data from Middlesex County Multi Listing System. Calculated on 01/16/2012. Please read our disclaimer