We have carefully reviewed Fannie Mae and Freddie Mac documentation and surveyed tenured appraisers across the country to arrive at the best practices for arriving at the 1004MC results and corresponding market statistics.
Our desire is for our calculation process to be transparent – so you can be assured that our results are accurate.
To assist in this transparency we offer a Calculation Check file, which you can download and run through the 1004MC Service engine to verify the results are accurate.
Download the Calc Check file and go to the 1004MC Service in ClickFORMS. Select California as the state, then scroll all the way down and select 1123 - 1004MC - Calculation Verification File for the MLS system, then upload this verification file. Make sure the Effective Date (Listing Search Date) is 12/31/2020 when you run it through the 1004MC Service.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Median Comparable Sale Price
|
$715,000
|
$715,000
|
$715,000
|
|
Median Comparable Sales Days on Market
|
5
|
5
|
5
|
|
Median Comparable List Price (includes active)
|
$710,000
|
$710,000
|
$710,000
|
|
Median Comparable Listing Days on Market
|
25
|
72
|
117
|
|
Median Sale Price as % of List Price
|
102%
|
102%
|
102%
|
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
This row displays all sold records that closed / settled within the given time period.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
The Absorption Rate is is calculated by dividing the total number of sales for each time period by the months in the time period. This is six months in the Prior 7-12 time period and three months in the Prior 4-6 & Current – 3 Month time periods.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
Each field represents the number of Active Listings on the Last Day of the period.
This means if a property was listed during the Prior 7-12 month period and sold in the Current – 3 month period it would be counted as a Active Listing in the Prior 7-12 and Prior 4-6 Months period then as a Sale in the Current – 3 months time period.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Total # of Comparable Sales (Settled)
|
6
|
3
|
3
|
|
Absorption Rate (Total Sales/Months)
|
1
|
1
|
1
|
|
Total # of Comparable Active Listings
|
1
|
4
|
7
|
|
Months of Housing Supply (Total Listings/Ab. Rate)
|
1
|
4
|
7
|
This is calculated by dividing the total number of listings by the absorption rate. The resulting number indicates how many months of inventory were on the market during each time period.
| Prior 7-12 Months | Prior 4-6 Months | Current-3 Months | |
|---|---|---|---|
|
Median Comparable Sale Price
|
$715,000
|
$715,000
|
$715,000
|
|
Median Comparable Sales Days on Market
|
5
|
5
|
5
|
|
Median Comparable List Price (includes active)
|
$710,000
|
$710,000
|
$710,000
|
|
Median Comparable Listing Days on Market
|
25
|
72
|
117
|
|
Median Sale Price as % of List Price
|
102%
|
102%
|
102%
|
This field shows the median sale price for the properties that actually sold (have a sold status) during each time period.
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$715,000
|
$715,000
|
$715,000
|
|
Median Comparable Sales Days on Market
|
5
|
5
|
5
|
|
Median Comparable List Price (includes active)
|
$710,000
|
$710,000
|
$710,000
|
|
Median Comparable Listing Days on Market
|
25
|
72
|
117
|
|
Median Sale Price as % of List Price
|
102%
|
102%
|
102%
|
This field shows the median days on market for the properties that actually sold (have a sold status) in given time period.
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$715,000
|
$715,000
|
$715,000
|
|
Median Comparable Sales Days on Market
|
5
|
5
|
5
|
|
Median Comparable List Price (includes active)
|
$710,000
|
$710,000
|
$710,000
|
|
Median Comparable Listing Days on Market
|
25
|
72
|
117
|
|
Median Sale Price as % of List Price
|
102%
|
102%
|
102%
|
This field displays the median list price for all properties in the given time period.
|
|
Prior 7-12 Months | Prior 4-6 Months | Current-3 Months |
|---|---|---|---|
|
Median Comparable Sale Price
|
$715,000
|
$715,000
|
$715,000
|
|
Median Comparable Sales Days on Market
|
5
|
5
|
5
|
|
Median Comparable List Price (includes active)
|
$710,000
|
$710,000
|
$710,000
|
|
Median Comparable Listing Days on Market
|
25
|
72
|
117
|
|
Median Sale Price as % of List Price
|
102%
|
102%
|
102%
|
This field shows the median days on market for all Sold/Settled properties within the given time period.
The Median Sales Price to List Price Ratio is measured by calculating the median from the list of ratios for the sold comparables chosen for analysis and NOT by dividing the overall Median Sales Price by the overall Median List Price on the form.
Pending sales can be counted as sold, active, or ignored if neither option is selected. If you choose “Count pending sales as settled sales” the 1004MC service will consider the Pending Date to determine when the sale happened. If you choose “Count pending sales as active listings” the 1004MC service will consider the Sold Date to determine when the sale happened. you don’t select either option, the Pending Sales in your export file will be ignored. This will have an impact on the number of settled sales and active listings you see for each period.
The three periods for the 1004MC are divided up by deducting calendar months. So if today was June 9th, three months back would be March 10th. This means sometimes the 0 – 3 month period could be 89, or 91 days, not necessarily 90 days. This same rule applies to the 4 – 6 month period and 7 – 12 month period.
Sold DOM: Pending Date (-) Listing Date
IF PENDING = ACTIVE: Listing DOM in current period = Effective Date 'Listing Search Date' (-) Listing Date
IF PENDING = SOLD: Pending Date (-) Listing Date
Listing DOM Last Day of that Period (-) Listing Date
Important notice: It is the responsibility of the appraiser to verify all data and calculations are true and correct. ClickFORMS is not responsible for the accuracy of your MLS data.