Comparables - Statistics Section Description
Statistics About Comparable Properties
The section Statistics About Comparable Properties provides additional context and analysis based on the group of comparable properties matching your criteria and listed below. This section displays the calculated values for 5 parameters: Sale Price, Building SF, Market Value, $/SF, MV Ratio. Each parameter includes high, low, median and average numbers. Sale Price is a real amount of money which was paid for the properties*, it is displayed as price ranges (high-low, median, average). The data for this parameter is taken from properties sales information, which is available for the items from Comparable Properties list at the bottom of the report. Building SF is a living area** of the property in square feet, so you can see what is the living area for the properties with these price ranges. Market Value shows the ranges which indicate the value estimates created by the county appraiser's office (sometimes called Just value or Just Market Value). This is the price the county thinks the property should sell for on the open market and it is used as part of calculating property tax levies (the accuracy of these vary, some appraisers might undervalue all properties by a predictable ratio). $/SF stands for the price (real amount of money) paid in USA dollars per square feet, and is determined as Sale Price/Building SF***. MV Ratio, or Market Value Ratio, is calculated taking into account Sale Price (sold) and Market Value (county): Sale Price/Market Value. For example, a MV Ratio below 0.950 signifies that the property sold for less than the county’s Market Value. A ratio of over 1.0 indicates it sold for more than the county would have indicated. A very high Value Ratio may indicate a property that has been split, or improved since the County Assessor's office assigned the market value.
* The numbers are only for market based sales (not inheritance, family members purchase, or other transfers)
** If there is no data available for living area in the county, the SF of total area is taken
*** If it is a Vacant land (i.e. there is no building on the land), the $/SF is calculated as Sale Price/Land square feet
The statistics values adjust to your the changes in Comparison Criteria and in Comparable Properties sections: if you add/remove properties from the list in Comparable Properties section or/and specific characteristics in Comparison Criteria, the Statistics will be re-calculated immediately. Use these settings to get more precise price predictions for your specific property. Click “Update Criteria” to ensure the Statistics and Comparables list have been regenerated.
