When are Market Reports updated?

If you are looking for and tracking market reports for a certain area, you might have wondered when the reports get updated. What day of the month do the new reports get posted? I can't answer for others. This is how our market report updating is done (on monthly market reports). Let's take March for instance.

In March we will post a report including numbers for the previous month - February. We would like to post this as soon as March arrives - but
If we do this, we will be missing some sold data.

For example.
I am ready to post Highlands Ranch Market Tracker for Feb 09. And it is 21st of March. I pulled the sold figures from the local MLS for Highlands Ranch, which I do manually,
on March 10th # sold in Feb 49
on March 15th # sold in Feb 54
on March 20th # sold in Feb 61

Had I done the report on the first week I would have missed quite a few sales.

Why don't the sold numbers for the previous month show up instantly in the beginning of the following month?
For two reasons (again for us):

1. Each listing agent or somebody from their staff, has to enter sold information into the system manually, after the closing. Depending on the schedules, availability of information, and remembering to do it (yes it can occasionally happen) it can take up to a few days. The closed sales affected are especially the ones closing at the very last days of the previous month.
2. After waiting to make sure at least most of the data is in, the agent (that would be me) may be swamped with other work or a sick baby, or ... to post the report instantaneously

It also takes time to put the report together - some larger area reports are autogenerated, but doing certain cities and any neighborhood reports - all have to be handpicked. I hope it doesn't sound like I'm making excuses. I'm not. I simply wanted to shed light to something that I certainly had thought about when I was looking for similar information.

So, what you can expect from us/me.

Reports for cities: Lone Tree, Highlands Ranch, Greenwood Village and Cherry Hills Village - around 20th of the month (for the previous month)
Reports for neighborhoods: select neighborhoods in Lone Tree and Highlands Ranch - around 2nd week of the month (10th -15th)

I am usually able to do neighborhood reports earlier as there are far less sales per month, sometimes none.

Other reports: (foreclosures, active listings, etc.) when somebody requests them, when we notice something noteworthy or activity picking up and so on

If you ever have any questions about my market reports please don't hesitate to contact me and ask questions.

Sincerely,

Rita Burke

Disclaimer: Kenna Real Estate Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate Blog represent the opinions and ideas of the author. Kenna Real Estate Blog does not express the views of Kenna Real Estate or those of the broker.

Copyright 2009.© Kenna Real Estate Rita Burke. Denver CO real estate. All Rights Reserved. Mar 21st 2009. "What day of the month are market reports updated?"