We are going to define some of the basic statistics on real estate that are thrown around on a regular basis. For this, we will use one market for real estate, located in Hood County Texas. In addition is the use of single family home numbers in Granbury Tx, a small town with a population of around 8,000 which has seen substantial property growth over the last 12 months kingdom valley location map. It is crucial when looking at the statistics of real estate to choose the numbers of a set that is large enough for consistency, but adequate enough to be able to tell your story.

The numbers we'll be using are accurate and correct for the year which will be discussed, but are being used to describe the real estate statistic as a whole.

We've chosen Granbury Tx as our example because the expansion of the property market in the area makes the statics stand out.

If you're looking at data, particularly in the field of housing, the sources of the data is very vital. In most cases the MLS (Multiple Listing Service) offers the most accurate data when it comes to the subject of real estate. This is because they have the entire listings of all local real estate brokers within their databases. For the sake of explanation of the information, we will examine the data for homes sold within Granbury Tx, directly from the MLS. These numbers are designed to serve as an example of how to understand the statistics for the data. When you are analyzing the real estate market, it is essential to pay to the way the numbers are calculated. In this case we will utilize only single-family properties within the city of Granbury.

Basic Real Estate Statistics

• Number of sales The Number of Sales pretty self explanatory. It's the sum of single-family homes sold in a specific month. In the month of January, 2015, they had 51 single family homes sold. One aspect to be aware of when looking at this statistic is are they using the under Contract date or the day the property actually went to closing. These two dates are usually somewhere between 30- and 60-days apart therefore it is vital that you understand which is being used. Additionally, many of the homes counted, even if you're applying"under contract "under contract" number, will not shut down! In our instance we're taking the total number of properties that have actually shut. In January of 2016 they saw an increase of more than 49% which brought the total to 77 from 51. Growth of that level is rarely seen.
• Sales Volume - Sales Volume is simply the total amount of money spent on single family housing during the month. In reviewing this number, it's important to keep the type of property identical. If you're comparing two areas to see which one is growing more and you include vacant land for one area, you must also include that land on the other too. As previously mentioned that our examples are only for single-family homes. Based on the Number of Sales on the individual units one might expect the Sales Volume to increase accordingly however in this case it increased greater than what the homes (by percentage). The total Sales Volume of single family houses in Granbury as of January was $15,191,500 as against the January 2015 figure of $9,281,915. This is an increase of more than 63 percent. Since the sales volume was increasing at a faster rate than the total number of units sold, this indicates the average house sale being much larger in 2016 than it was in 2015.
• months of inventory The Months of Inventory is a commonly referred to figure when looking at a real estate market. This figure is used to determine at the current sales rate, how long will it be to sell out the inventory level currently in place. This is a reflection of the demand and supply of the market. In the example above, in January of 2015 the inventory levels were 9 months , and by January of 2016 it been reduced to 6 months. This is a decrease of 33% in inventory! That means that if you're trying to purchase a home that is located in Granbury Tx, it will be a little more difficult in 2016 because there is less inventory available for purchase.
• Median Days to Sell - This stat simply indicates how long it takes for single-family properties to go under contract. Don't let the "to sell" be a source of confusion. In order to accurately gauge the need for homes that are active, you really want to keep track of the time it takes to go "under contracts". The process of acquiring final approval from the lender, obtaining insurance and completing the closing can vary on various factors. In January of 2015 it was reported that the Median Days to Sell was the number 88. This number decreased by over 30 percent to 61. Again, this is a warning to anyone looking for homes in Granbury TX, you better make offers quickly because the best homes are going fast!