What do the percentage values mean on the listing cards?
What do the percentage values mean on the listing cards?
You will notice that in some cases, a little percentage value is shown on the listing cards (In this example: -4.92%).
This article explains how this percentage is calculated. First, this percentage indicator will only be displayed if the CMA report includes a market value.
Here is how the value of -4.92% is calculated :
- Market Value Range : In this case, where a ranged market valuation is used, we will first need to calculate the median value.We can calculate the median value by using the following formula :
(v1 + v2) / 2 = {median value} (1,295,000 + 1,605,000) / 2 = 1,450,000
In this case, our Market Valuation of $1,450,000 is 4.92% lower than the property in this exhibit, which is valued at $1,525,000. - Single Market Value : In this case, we do not need to calculate the median.
Our Market Valuation of $1,450,000 is 4.92% lower than the property in this exhibit, which is valued at $1,525,000.