Create Summary Statistical or Market Conditions Report

The Search Listing function in CTI Navigator (Desktop and Web) can be used to automatically generate special statistical reports such as Summary Statistical Reports and Market Conditions Reports.

Summary Statistical Report

To create a Summary Statistical Report, open Search Listings and set the time period of activities to be included. For Sold Listings use "Off Market Cutoff Date"; or for Active Listings use Status Date (see note 1 for Past Actives). Enter any other criteria (such as Form Type or Area) as in a regular search. In Navigator Desktop, click on the sigma symbol (Σ) at the top of the Build Query screen to show summary statistics without generating property reports. In Navigator Web (Silverlight), click the Statistics button at the bottom of the Search Criteria screen and select Summary Statistics.  In Navigator Web II, click Options in the Search Criteria toolbar and select Summary Statistics.  

Summary statistics for Non-Sold listings include the:

Summary statistics for Sold listings include the:

These summary statistics also can be displayed and/or printed at the end of property reports. To do so in Navigator Desktop, check Show CMA Statistics on the top of the Select Reports screen before clicking Preview or Print. In Navigator Web (Silverlight), click the Print button, select a report, and check "Show CMA Statistics" under Report Options before clicking a Print, View or Save button on the Print screen.  In Navigator Web II, click Print Reports in in the Search Criteria toolbar, then check "Show CMA Statistics" under Report Options before clicking the Print, Preview, or PDF button on the Print screen.

Note 1: Past Actives. Since Status always indicates the current status of a listing, searching for Status = Active only produces listings that are currently active. A listing's status may change from Active to other statuses (such as contingent, pending or withdrawn) and back to Active (or to sold, expired or other status) during any period of time. Therefore, to find all listings that were Active (at least once) within a specified period in the past (regardless of current status), include the following criteria in your Search criteria: 

  1. Use an Entry Date on or BEFORE the END of the specified period
  2. Enter a Status Date on "or AFTER" the BEGINNING of the specified date. 

Note 2: Median. The median price is the middle price when selected properties are arranged from lowest to highest price. Half the properties will be above the median and half will be below. The median is not always the same as the average, especially when some prices in the list are extremely high or extremely low. 

To create detailed CMA reports on Navigator Desktop, search listings for comparable sold properties and select the CMA icon at the top of the Search Results table. In Navigator Web (Silverlight) and Web II, click CMA in the frame menu and select either "New Comparative Market Analysis" or select "CMA Manager" to open and modify or copy an existing CMA. Creating CMA reports is described in the Help of CTI Navigator Desktop, and in the CMA Tutorials for Navigator Web (see related articles below).

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Market Conditions Report

The Market Conditions Report is designed to help real estate appraisers fill out the federally mandated Fannie Mae/Freddie Mac 1004MC/71 "Market Conditions Addendum to the Appraisal Report" form. It may also be useful to other agents interested in statistical data about the real estate market in the area served by their MLS. 

The MLS data available to complete this federal form is provided after you complete entering criteria for searching listings. Then, in Navigator Desktop, select the squiggly icon ( ) at the top of the Build Query screen. In Navigator Web (Silverlight), click the Statistics button at the bottom of the search criteria screen, and select "Market Conditions Report". In Navigator Web II, click on Options in the Search Criteria toolbar and select "Market Conditions Report". Enter the desired "Period Ending Date" on the Print screen. The report automatically calculates statistics for the 12 months prior to the Period Ending Date.

The statistical data for the Market Conditions Report is presented in the same table format used on the federal forms. Fields that are grayed out in the report are not required (because reliable requisite data is not typically available).

Usage Guidelines:

Report Calculation Criteria:

Fix Error.  If running a Market Conditions Report (1004MC) encounters an error, close the error and view the Search Results screen. To display results, the number of matches must be less than 2000. Look for any listing that is missing data it should contain (which varies by Status). This includes date fields such as List Date, Entry Date, Off-Market Date (which is the current date for Actives), Close Date (as appropriate), and Days on Market; and price fields (such as List Price, current Price, and Sale Price as appropriate). You may need to add columns to your search results table to see all of the fields that are needed for calculations used in the Market Conditions Report. Exclude any listing in your search criteria that has a blank (a "null" value) in any field used in 1004MC calculations, and then re-run your 1004MC report. 

Note: To finds listings with blank (null) data, progressively sort each of the key columns (Status, Dates, Prices) in ascending order. Blank fields will come to the top of a column when sorted ascending.

FannieMae "Market Conditions Addendum to the Appraisal Report (Form 1004MC)" Announcement SEL-2010-09 

In Form 1004MC, in order to provide the most accurate depiction of the "Months of Housing Supply" as of the effective date of the appraisal, the "Total # of Comparable Active Listings" should be based on a specific point in time. For example, when completing the "Current 3 Months" column for "Total # of Comparable Active Listings," the number should reflect the listings on the most recent date in the 3-month period (which is also the effective date of the appraisal), and not the cumulative number of listings for the entire 3-month time period. Then, when completing the "Months of Housing Supply," the number for the "Total # of Comparable Active Listings" is divided by the absorption rate, which provides an accurate depiction of the existing housing stock as of the effective date of the appraisal. (Using a cumulative number of listings during the "Current 3 Month" time period may result in an artificially high number for the "Months of Housing Supply.")

If data is available for the previous time periods, such as "Prior 4 - 6 Months" and "Prior 7 - 12 Months," the "Total # of Comparable Active Listings" should be based on the most recent day in each of those time periods. For example, in the "Prior 4 6 Months" column, the "Total # of Comparable Active Listings" should reflect the listings on the last (most recent) day in that time period. Likewise, in the "Prior 7 12 Months," the "Total # of Comparable Active Listings" should reflect the listings on the last (most recent) day in that time period.  

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Related articles and Internet Links:

To return to CTI's on-line Menu of Help & Tutorials for CTI Navigator Desktop and Navigator Web (Silverlight), click the back arrow in the top menu of your Internet browser or click here.

To go to the Index of Tutorials and Usage Guideliines for CTI Navigator Web II, click here.

 

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