Results are filtered primarily based on location - there is also the additional option to customize by property type and status. If no specific property types are selected, the default is to include residential and land listings and exclude land listings. By default, we display data based on the “Active” statuses. There is also a toggle for the client to decide whether or not to include commercial data.
To filter out illegitimate results, the results only account for listings with a minimum sale price ($100) and minimum square footage (10 sq. ft).
There are 2 different timestamps for the data:
1. Comparisons/Date Ranges
The data comparisons (increase/decrease trends) are based on the previous month’s data (note: month, as opposed to 30 days). There is also a default cutoff date of the 8th of each month that prior to reaching that date, we would use comparison data from 2 months ago.
2. Data Refresh
We refresh the data only when that page is hit by a user, and in 6 day intervals (since the last update). This is not based on individual user page load, but rather site page load. This means that if a user has used that page, another user will also see refreshed data as of the most recent update following the 6-day rule.
If a user refines that report, it is considered a new report that will follow its own refresh timestamps but with the same logic.
- Users can specify a property type for their report when they go to edit that specific report. This can be reached through Content > Market Insights > Edit > Make Market Insights Property Type Specific.
- Admins can also set their preference to include commercial data within the results. This can be reached through Settings > Configuration > Market Insights > MLS Data > check Market Insights Includes Commercial Data.
- Admins can also choose to specify which statuses to include in the report results within Settings > Configuration > Market Insights > MLS Data > Exclude Certain Statuses. This will apply to all the market insights reports for that site.
For a Market Insights page for Los Angeles is generated on October 3, the data will remain as is and in an unrefreshed state prior to anyone accessing it.
- Data Refresh: User A reaches that Market Insights page, and the data is refreshed as it has been more than 6 days since the last update.
- Comparison Data: As of this date, the comparison data is based on Oct 4, 2018 as it is before the cutoff date of the 8th of the month, and thus is comparing to two months prior.
- Data Refresh: User B accesses that page and will be seeing data from the 4th, since it is within 6 days since the last refresh.
- Comparison Data: would be the same as the 4th due to the date before the cutoff but also the same as the 4th because the data has not been refreshed in this case.
- Data Refresh: User C then navigates to that page and refines the report to include additional criteria for properties with a certain number of beds and baths. This is considered a new report.
- Comparison Data: Since it is after the cutoff date, the comparison data will be based on Nov 14th, a month ago.
- User B searches for that same report based on the refined criteria and sees data from the 14th, when User C generated this report, as that is when this was last accessed and the data last refreshed.
Q: My comparison data for sold properties says "No Comparison". Why is that?
A: This is most likely due to this page not having data from the previous month to compare to. For example, if the page has not been accessed since 6 months ago, we do not have data from the previous month for sold properties.
Q: How frequently do Market Insights get sent?
A: Emails are sent in the morning (around 5am EST)
Weekly are sent on Monday.
Monthly are sent on the 1st of the month.
Quarterly are sent 1/1, 4/1, 7/1, 10/1