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RESIDENTIAL SALES DATA METHODOLOGY CY2023 (Prepared August 2024) The Sales data for calendar year (CY) 2023 are derived from the MdProperty View1 Sales Databases created for Marylands 23 counties
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How to fill out residential sales data methodology

01
Gather all necessary residential sales data, including property details, sale prices, and dates.
02
Identify the geographical area for which the sales data will be analyzed.
03
Organize the data into categories such as property type, listing price, and sales price.
04
Calculate key statistics like median sale price, average days on the market, and price per square foot.
05
Interpret trends by comparing current data with historical data to identify patterns.
06
Ensure data accuracy by cross-referencing with public records and multiple MLS sources.
07
Document the methodology used for analysis for transparency and replication.

Who needs residential sales data methodology?

01
Real estate agents and brokers seeking to understand market trends.
02
Homebuyers looking to assess property values.
03
Investors analyzing potential investment opportunities.
04
Appraisers needing to determine property value for financing.
05
Researchers studying housing market dynamics.
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Residential sales data methodology refers to the systematic approach and guidelines used to collect, analyze, and report data related to residential property sales. This methodology ensures consistency and accuracy in reporting sales transactions, which can include various elements such as sale price, property type, and buyer demographics.
Real estate agents, brokers, and organizations involved in residential property transactions, as well as local county offices and assessors, are often required to file residential sales data methodology to maintain accurate property records and market assessments.
To fill out residential sales data methodology, individuals or organizations must provide detailed information about the property sale. This typically includes the property address, sale price, date of sale, and information about the buyer and seller. Specific forms and guidelines provided by local authorities should be followed.
The purpose of residential sales data methodology is to provide a structured framework for reporting property sales, which assists in property valuation, market analysis, tax assessments, and informs both buyers and sellers about market trends and property values.
The information that must be reported includes the property address, sale price, date of sale, property type, details of the buyer and seller, mortgage information if applicable, and any additional data required by local jurisdictions for assessment and statistical purposes.
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