Similarly to net absorption rate, the turnover rate can help you find more data about home sales. The turnover helps you calculate all of the movement of homes bought and sold in a specific neighborhood or area within a specific time frame. The best way to calculate this is to use the Monsoon Tax System to ensure you find all properties and sales.
Calculate Turnover Rate
1. Find the total number of properties in a given area.
Start by doing a tax search in Monsoon, drilling down by the specific area you want to search. We’ll search by the subdivision and property type (property type ensures that you are removing commercial properties from your search).
We get 949 properties
2. Add the sales date.
When we go back 1 year (07/02/18 – 07/02/19) we get 44 properties.
3. Divide the two.
44 ÷ 949 = .0463. This means that homes in this neighborhood had a turnover rate of 4.6%.