Annual Turnover and Prior Year Price Change Formulas Explained

Choosing the right building for you is so important I try to provide as much information as I can to assist my clients in making that decision. After breaking new ground by providing reviews from the residents living in these buildings, in 2007 I added some useful statistics, “annual turnover” and “price change prior year”. I want to share with you how these are calculated.

Annual turnover; is the number of units sold in the last calendar year divided by the number of units in the complex. All sold data is pulled (only) from the MLS. 

Price change prior year; is calculated by comparing the complexes average sold price per square foot in the last two calendar years. I believe this is the most accurate way to compare the time periods as opposed to the median price number always quoted in the mainstream media. Again all of the data I used came from sales reported through the MLS. Data can be skewed sometimes, if for example, in one year most of the sales were on penthouse floors with great views and the next year the only sales were very low floors with no views.