This post will describe the steps required to complete a Statistical CMA.
The following instructions start after you have performed a search and are looking at the listing results found. From a search results page, you can choose to perform your CMA using all the results found, or select specific listings using the check boxes along the left side. If your intention is to use all results, listings need not be selected.
1. After performing your search and/or making your listing selections, click CMA in the top right of the page. Then click on either Use All Results or Use Selected depending on whether you want to use all the listings in the search or specific listings.
2. On the following page, select Statistical CMA and choose a "Statistical Average Field" at the bottom if necessary. The Statistical Average field provides a Price Per calculation explained later on in this posting. In this example, SqFt - Total has been selected. Once selected, clickNext Step at the bottom of the page.
Note: The Statistical Average option field, and the selections within it, will vary per market and is regulated by your MLS office.
3. The next page provides options to control what will display in your Statistical CMA. Each option is explained in detail below.
Total Statistics
The Total Statistics box is checked by default and controls the use of the Statistical CMA as a whole. If you want to use the page to also perform a Fannie Mae 1004MC report, please uncheck the Total Statistics as calculations are performed differently in this mode.
The Include total row at bottom of statistical analysis option will provide a grand totals row for each column in the CMA and will appear as a row labeled Overall.
The next check box allows you to remove the "Statistical Average Field" chosen in the previous section. For the purposes of this posting, the field SqFt - Total calculations would not be shown if this option were checked.
Individual Listing Information
This section allows you to include the listings from your search and display these listings individually based on the data columns that are present in your selected View, much the same listings appear on the List tab of a search results page. If this option is selected, you can select the option to separate these listings from the Statistical CMA page when printing. Additionally, you will be able to select the View that you would like to use to display these listings. For more information about Views, please see this forum posting.
Fannie Mae 1004MC
Though not required to complete a Statistical CMA, the ability to also perform a Fannie Mae 1004MC report also exists on this page. If creating a Fannie Mae 1004MC, place a check in the box. For more information about the Fannie Mae 1004MC, please click here.
Median Calculation
If a Median Calculation is required for the fields in the report, select the check box next to that option. Definition of a median calculation is as follows: If there are an odd number of data values, then the median will be the value in the middle number when the numbers are arranged from least to greatest. If there are an even number of data values, the median is the value half way between the two middle numbers when the numbers are arranged from least to greatest. For example, in the data set 1, 1, 2, 5, 6, 6, 9 the median is 5. For the data set 1, 1, 2, 6, 6, 9 the median is 4.
Please note: checking this option can result in much longer wait times to generate the report.
Group this Statistical CMA by
Next, select how you would like to group the CMA. If, for example, you select Status, the results page will show the listings grouped by their current Status.
4. Finally, when all choices have been made, select to either E-mail CMA, View CMA, or PDF to create a PDF of the CMA.
The final result will look similar to the example below, depending on the selections you've made as explained in section 3 in this post. Each data column that is displayed in your CMA is individually calculated and does not necessarily use data from other data columns.
Please Note: the fields circled below are determined by your choice in section 2 (above) when choosing a Statistical Average Field.
The first column will show the choice made in section 3 under the Group this Statistical CMA by option. In our example, Status was chosen, so the results are grouped by Status.
The # Listings column shows the number of listings from the search results within each group with an Overall number of listings shown at the bottom, as the option to Include total row at bottom of statistics analysis was checked in this example.
The List Volume column shows the sum of the last known List Price for the listings in each group, and the Overall row shows the sum of the list prices for all the listings at the bottom of the column.
Sold Volume shows the the sum of the last known Sold Price for the listings with sold/closed status.
The remaining columns show a Low, Average, Median and High row for the particular data column. These rows are calculated using the listings in the CMA and each column is calculated independently from the other columns. In other words, the listing that provides the Low List Price may not be the same listing that provides the Low Days on Market figure.
The Low and High rows will display the lowest and highest figures present in the applicable data column. No calculations are being made for the two rows as the data is taken directly from the listings. The Average and Median (when selected) rows are calculated using the listings in each group to determine the average or median figures. The same method of determining these figures is used for each column.
For example, the Sale/List Price column shows the ratio of Sold Price to List Price. This ratio is calculated across all applicable sold listings used in the CMA and provides a figure for Low, Avg, Med, and High rows. To find these ratios, Flexmls calculates each listing's Sale to List price ratio by dividing the Sold Price by the List Price for each sold/closed status listing. The Low and the High rows reflect the lowest and highest Sale to List price ratio respectively. The Avg and Med rows use all individual Sale to List Price ratios for all the sold/closed listings to calculate the average and median figures respectively.
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