Active listings: The total number of listings of homes for sale that were active at any point during a given time period.
Age of inventory: The typical (median) number of days that active listings of homes for sale have been on the market during a given time period.
Average sale-to-list price ratio: A measurement of how close the typical home’s final sale price was to its original list price. It’s calculated as an average of the ratio of each home sold during a given period price divided by its list price. A sale-to-list price ratio of 99%, for instance, means a home sold for 1% under its list price. A sale-to-list price ratio of 101% means a home sold for 1% over its list price. This excludes properties with a sale price 50% or more above the listing price or 50% or more below the list price.
Bidding war: Redfin’s bidding-war rate is the percentage of home offers written by Redfin agents that face competition. An offer is considered to face competition if a Redfin agent reported that it received at least one competing bid.
Home sales: The total number of closed home sales.
Homes delisted: The total number of unsold home listings that were removed from the market during a given time period.
Home-purchase cancellations: The number of home-purchase agreements that were canceled after the seller had accepted an offer from a buyer. This metric is typically expressed as a percentage; i.e. “15% of homes that were under contract in March were canceled.” Homes that fell out of contract during a given month didn’t necessarily go under contract the same month; for instance, a sale that was canceled in March could have gone under contract in February.
Inventory: The total number of active listings on the market on the last day of a given time period. Inventory differs from active listings in that active listings are a snapshot of homes a buyer could have seen throughout the month, while inventory measures how many homes will be available for sale at the start of the next month.
Median: The midpoint in a sorted list of numbers. For example, a median sale price of $400,000 means that half the homes that sold during the relevant period sold for more than $400,000, and half sold for less.
Median days on market: The median number of days homes that went under contract during a given period spent on the market before going under contract, meaning the seller accepted an offer from a buyer. Excludes homes that spent more than a year on the market before going under contract.
Median days to close: The median number of days it took for a home sale to close after the home went under contract, meaning the seller accepted an offer from a buyer.
Median list price: The median asking price of homes that were listed for sale during a given time period.
Median sale price: The median final sale price of homes that sold during a given time period.
Months of supply: The length of time it would take for the existing supply of homes for sale to be bought up at the market’s current pace of sales, assuming no new homes came on the market. This is calculated by dividing inventory by home sales. It’s typically used to measure the balance between supply and demand; higher supply indicates a buyer’s market, while lower supply indicates a seller’s market.
New listings: The total number of homes listed for sale during a given time period.
Pending home sales: The total number of homes that went under contract, meaning the seller accepted an offer from a buyer, during a given time period. Excludes homes that were on the market longer than 90 days.
Share of homes off market in two weeks: The percentage of homes that went under contract, meaning the seller accepted an offer from a buyer, within two weeks of its listing date.
Share of homes sold above final list price: The percentage of homes with a final sale price higher than its most recent list price. Excludes properties with a sale price 50% above the list price or 50% below the list price.
Share of homes with a price drop: When a home seller reduces their listing price after the home is already on the market, that is considered a price drop. This metric is typically expressed as a percentage, i.e. “5% of homes for sale in March had a price drop.” Redfin’s monthly market tracker defines the share of homes with a price drop as the percentage of for-sale homes that dropped its price to one lower than the original asking price. Redfin’s weekly housing-market report defines the share of homes with a price drop as the average percentage of homes for sale each week of a four-week period that dropped its price to one lower than the original asking price
For questions or clarification, please email press@redfin.com.
United States
Canada