GLOSSARY & METHODOLOGY

Average Sale it is calculated based on the twelve month moving average using geometric mean.

Days on Market is the number of days the property has been actively marketed for sale or for rent. It is calculated from the last listing date to the contract date. Note that some properties are listed multiple times before they are sold.

General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.

Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.

Bedroom definition may vary from jurisdiction to jurisdiction and building code with exemptions. You may want to refer to your local town officials for their interpretation and requirements. Our assumption of a bedroom is as reported by a licensed broker and/or information provided by the State of New Jersey Department of the Treasury in the property tax record.

Square Feet measurement is information reported by a licensed broker and/or provided by the State of New Jersey Department of the Treasury in the property tax record.

Number of Sales is the number of properties sold in a particular district in a specified period.

Discount Rate is the difference between the last listing price and the selling price. Average rate is calculated based on the twelve month moving average using geometric mean.

Original Discount Rate is the difference between the original listing price and the selling price. Average rate is calculated based on the twelve month moving average using geometric mean.

Absorption Rate is the number of months required to sell the entire inventory of properties that are currently available for sale. For example if there are currently 80 properties on the market for sale and in the past 12 months there have been 60 sales, the absorption rate would be 16 months: (60/12= 5 sales per month, 80/5=16).

Maintenance is calculated based on information reported at the time the property was marketed. It is calculated per square foot per annum. For example if the monthly maintenance is $600 and the unit size 850 square feet the calculated maintenance would be $8.47 per square foot ($600 * 12 / 850 = $8.47).

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