1004MC Service
The Calculation Process
We have carefully reviewed Fannie Mae and Freddie Mac documentation and surveyed tenured appraisers across the country to arrive at the best practices for arriving at the 1004MC results and corresponding market statistics.
Our desire is for our calculation process to be transparent – so you can be assured that our results are accurate.
To assist in this transparency we offer a Calculation Check file, which you can download and run through the 1004MC Service engine to verify the results are accurate.
Calculation Check File
Download the Calc Check file and go to the 1004MC Service in ClickFORMS. Select 1. Calculation Verification for the MLS system and upload this verification file. Make sure the effective date is 12/31/2008 when you run it through the 1004MC Service.
Calculation Check Details: Download the Calc Check file and go to the market analysis tool. Select 1. Calculation Verification for the MLS system and upload this verification file. Make sure the effective date is 12/31/2008 when you run it through the Market Analysis Tool.
The Calc Check file contains the following:
- 12 Sold Records – Each has a list date of the 10th of each month, beginning January 2008. Each sold record has sold date of the 20th of the same month it was listed. The list price is $110,000 and the Sold Price is $92,000. Each sale was on the market for 10 days (list date to sold date).
- 7 Active Records – Each record has a list date on the 5th of each month, beginning June 2008. Each active record has a list price of $110,000.
- 1 Pending Sale – the pending sale has a list date of 12/1/08, a contract / pending date of 12/10/08, and a list price of $105,000
ClickFORMS 1004MC Service will produce the following statistics:
A common question is how the listing counts are arrived at. Each sold record is not an active listing in the period it was sold.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
4
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
5.26
|
Inventory Analysis (counting 0% of Pending sales as Settled)
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
8
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
8
|
The Median Sale Price as % of List Price is determined by finding the median of Sale Price divided by List price of each Sold/Settled property in a given period.
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
Below is a row-by-row detail of the calculation process used to arrive at the results.
Total # of Comparable Sales (Settled)
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
4
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
5.26
|
This row displays all sold records that closed / settled within the given time period.
Absorption Rate
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
4
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
5.26
|
The Absorption Rate is is calculated by dividing the total number of sales for each time period by the months in the time period. This is six months in the Prior 7-12 time period and three months in the Prior 4-6 & Current – 3 Month time periods.
Total # of Comparable Active Listings
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
4
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
5.26
|
Each field represents a cumulative count of the total number of properties on the market for each time period.
This means if a property was listed during the Prior 7-12 month period and sold in the Current – 3 month period it would be counted as a Active Listing in the Prior 7-12 and Prior 4-6 Months period then as a Sale in the Current – 3 months time period.
Months of Housing Supply
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
4
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1.33
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
5.26
|
This is calculated by dividing the total number of listings by the absorption rate. The resulting number indicates how many months of inventory were on the market during each time period.
Median Comparable Sale Price
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
This field shows the median sale price for the properties that actually sold (have a sold status) during each time period. Pending prices are not a factor considered in this field.
Median Comparable Sales Days on Market
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
This field shows the median days on market for the properties that actually sold (have a sold status) in given time period. Pending days on market are not a factor considered in this field.
Median Comparable List Price (includes active)
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
This field displays the median list price for all properties in the given time period.
Median Comparable Listing Days on Market (includes active)
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
This field shows the median days on market for all Sold/Settled properties within the given time period.
Median Sale Price as % of List Price
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$92,000
|
$92,000
|
$92,000
|
|
Median Comparable Sales Days on Market
|
10
|
10
|
10
|
|
Median Comparable List Price (includes active)
|
$110,000
|
$110,000
|
$110,000
|
|
Median Comparable Listing Days on Market
|
209
|
163.5
|
117
|
|
Median Sale Price as % of List Price
|
92%
|
92%
|
92%
|
This field shows the median sale price as a % of list price for the given time period.
It is calculated by finding the median of Sale Price divided by List price of each Sold/Settled property in a given period.
Important notice: It is the responsibility of the appraiser to verify all data and calculations are true and correct. ClickFORMS is not responsible for the accuracy of your MLS data.
