Market Data Metrics and Calculations

Overall Methodology

RPR’s Market Data metrics are based on property records (parcels) and are derived from complex processes that remove duplicate listing information that is received from multiple sources, as well as augments listing data with additional information from public records. This allows RPR to produce accurate metrics and to provide a broader view of distressed properties, by supplementing listing data with public recordings of distressed properties. 

For example, if a Broker provides its listings to three MLSs, RPR will receive three listings for the same property—one from each MLS. It would be inaccurate to report on the three listings as separate events; this would result in triple the listing count and volume. By tracking and recording those activities at the property level, the tool reports metrics based on all activities, uniquely, for a property. This methodology provides accurate metrics at the office, broker and brand levels for Brokers (as well as for MLSs and Associations). 

Since most reporting tools communicate real estate metrics as listing and sales activities, our charts use this terminology, but they are actually reporting counts of properties that have listings whose status dates indicate when the listing became active, pending or sold.

The metrics that are calculated by RPR may show the same general trends as those published by other sources (i.e. MLSs, Associations or vendors), but because of our processes and parcel-centric approach, some variation will occur. Variations can be due to a variety of factors, including data scrubbing or cleansing in which obviously erroneous data is removed, other filters that have been developed to remove outliers (data far out of the norm that cause metrics to be skewed), or data load dates.


Metrics and Calculations

Absorption Rate

Similar to “Months of Inventory,” the “Absorption Rate” charts indicate supply and demand. While “Months of Inventory” may indicate more clearly if the market is favoring sellers or buyers, the “Absorption Rate” directly indicates the relationship between supply and demand. This metric indicates the percentage of listings that are being sold each month.

Absorption Rate = previous month’s sold count / current month’s active listing count. Displayed as a percent. 

Average (Mean)

These charts indicate the central tendency of a given set of numbers. 

Average = sum of elements / number of elements.   

Closed Sales

These charts reflect listings that have been sold, including both buyer-side and seller-side sales. They are based on RPR receiving a listing with a status of S (Sold). 

Days in RPR

These charts are determined from the number of days between when residential properties are first displayed as active listings in RPR and when accepted offers have been noted in RPR. 

Distressed Listings & Sales

RPR determines if a property is distressed either from the listing data sent from the MLS or by searching public records for Deed or Notice of Default (NOD) documents for that property. These charts reflect listings that the properties are/were in one of several distressed statuses:

  • Foreclosure/REO
  • Pre-foreclosure/Auction
  • Short Sale

Estimated Value

The estimated value in the charts is based on the Realtors Valuation Model® (RVM®) or another AVM estimate. A basic AVM (automated valuation model) uses public data only. The RVM® is an AVM produced by RPR that also takes MLS data into account in producing the estimates. RVMs® are more accurate since the MLS sales data is more frequently updated than the sales information available from local recorder offices. RPR’s charts include the property’s RVM® estimates first. If RVMs® are not available, the AVM estimate is used.  

Listings for properties that are rented, leased or foreclosed are not used to compute estimates. Listings for properties that are bank owned or short sales may be used as well as arms-length sales in producing an estimate.


These charts indicate the middle value of a set of numbers.

The median value is obtained by listing all the numbers in order and identifying the number that is in the middle (there is the same count of values above and below). If there is an even number of values in the set (there is no exact middle value) the middle two values are averaged to come up with the median. 

Medians are also included in the Key Metrics table, an optional summary of report content. The Key Metrics Table’s YTD median calculations are calculated using a weighted average of the median values for each month that is included.

Months of Inventory

Similar to “Absorption Rate,” these charts indicate a measurement of supply and demand in the housing market. This metric indicates how many months it would take to sell the current inventory at the present monthly sales rate. Six months’ supply is considered a balanced market, when the number of listings roughly equals the number of buyers. Numbers over six represent a buyers’ market and those below a sellers’ market.

Months of Inventory = current month’s active listing count / previous month’s sold count. Displayed as a number of months. 

New & Active Listings

New Listings charts include listings that became active each month; their List Date is used to determine the month that the listing was “New” to the market during the month.

Active Listings charts include all listings that are active at the end of each month. RPR determines a listing to be active unless an update has been received indicating that the listing is no longer active. 

New Pending Sales & Pending Sales

Pending home sales is a leading indicator of future home sales. Pending sales are listings in which a contract has been signed, but the sale has not yet closed.

The New Pending Sales charts include listing counts and volumes of listings that became a new pending on any day throughout the month.

The Pending Sales charts include listing counts and volumes of all of the listings that are/were pending at the end of each month, regardless of when they became pending.

RPR populates a Pending Date field to determine when a listing went into pending status. The date field is updated in various ways, depending on the listing statuses and dates that are received from the MLS. Most MLSs send the pending date, and that date is used to determine when the listing should be counted as pending. Some MLSs do not supply a pending date; in those instances, the off-market date is used as the pending date. If neither of those result in a pending date, the latest date that the listing is changed to one of these statuses is used as the pending date:

  • B - Accepting Backup Offers
  • C - Contingent
  • F - First Right of Refusal
  • O - Under Contract
  • P - Pending

A listing will be considered pending until RPR receives a change of that listing to an off-market status. To limit the impact of listings that RPR never receives a status update on beyond pending, listings that have been pending for too long will not be flagged as pending.

If a listing becomes pending several times within the same month, it will be counted as a “new pending” once during that month. If the same listing becomes pending, then withdrawn in the same month and then becomes pending again the next month, it would be counted as a “new pending” in both of the months.

Price Per Square Foot

These charts indicate a measure of the value of a home, most commonly used for comparison reasons. Listings and sales with a small amount of living area or with no list price/sale price are excluded from these calculations.

Listing Price Per Sq Ft = the sum of the list price of the listings active at month end / the living square footage of the same listings.

Sales Price Per Sq Ft = the sum of the sales price for each of the properties sold throughout the month / the living square footage of the same properties.