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Monday, October 02, 2006

HouseJockey.com to start releasing sales metrics

I need your help!

I'd like to start collecting and releasing housing data based on our database of listings and sales. I think our dataset is unique enough that it warrants being done.

The data: Every person who lists gets an email sent to them once per week asking them to click if the listing is still up for sale, sold, or no longer on the market. Each listing also has a contact form where questions can be sent.

Data series:

1. The first statistic we could release is the simple "days on the market". This would be calculated by taking all of the sales for a given month, and finding the median (or mean?) number of days they had been listed for sale. I believe this number *should* always be below the NAR/MLS reported number (since about 80% of our listings are also on the MLS)... but MLS listings are often removed and re-added after 45 or 60 days and this may be giving them artificially low reports. Perhaps the HouseJockey metric could be broken down into 2 series based on if the listing is also on the MLS?

2. Another dataset could be the "Realtor’s demand index". It would be based on how many realtor spam emails we see (and block) which get sent through our seller contact forms. The metric would be a little complicated and would likely have to be something like "Realtor spams per 100 unique IP visists" to keep the scale normalized as the web page grows.

I used our database and ran the “days on the market” metric for August and September. August was based on 61 sales and the median was 26.8 days. September was based on 84 sales and the median was 27.4 days.

Any help or feedback on any of this is appreciated. It is difficult for me to put myself in the shoes of the readers/media/general public to decide what type of stuff might interest them. What series should be added? Should I setup tracking for new data? All comments are welcome!

Thanks!!!

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