Monthly Indicators % % - 3.5%

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1 Monthly Indicators 2017 New Listings were up 6.3 percent for the category but decreased 33.1 percent for the category. Pending Sales increased 5.0 percent for but decreased 1.3 percent for. The Median Sales Price was up 2.8 percent to $730,000 for the category and 10.6 percent to $429,000 for the category. Days on Market decreased 5.8 percent for and 12.5 percent for. Monthly Snapshot % % - 3.5% One-Year in Closed Sales All Properties One-Year in Active Listings All Properties One-Year in Median Sales Price All Properties Residential real estate activity in Vail Board of REALTORS MLS, comprised of single-family homes, duplexes, townhomes and condominiums. Percent changes are calculated using rounded figures. Although the unemployment rate remains unchanged at its favorable national 4.3 percent rate, wage growth has not been rising at the steady clip that would be expected in an improving economy. Sales activity manages to keep churning along despite looming shortages in new construction. Lower price ranges are starting to feel the effects of the supply and demand gap, as first-time buyers scramble to get offers in at an increasing pace. Activity Overview Activity Overview New Listings Pending Sales Closed Sales Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Active Listings Months Supply of Inventory All Properties Activity Overview Closed Sales and Inventory by Price Range Glossary of Terms Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime.

2 Activity Overview Key metrics for Single Family and properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings % % Pending Sales % % Closed Sales % % Median Sales Price $710,000 $730, % $681,188 $728, % Average Sales Price $1,254,171 $1,137, % $1,122,913 $1,394, % Pct. of List Price Received 97.0% 96.3% - 0.7% 95.9% 96.2% + 0.3% Days on Market Until Sale % % Housing Affordability Index % % Inventory of Active Listings % Months Supply of Inventory % Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 2

3 Activity Overview Key metrics for Townhouse and properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings % % Pending Sales % % Closed Sales % % Median Sales Price $388,000 $429, % $485,000 $492, % Avg. Sales Price $858,484 $766, % $872,092 $975, % Pct. of List Price Received 96.2% 97.5% + 1.4% 96.1% 96.6% + 0.5% Days on Market Until Sale % % Affordability Index % % Active Listings % Months Supply % Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 3

4 New Listings A count of the properties that have been newly listed on the market in a given month. Year to Date % -8.2% + 6.3% % % % % -1.9% + 2.7% + 8.1% + 3.9% -6.9% New Listings Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg % % Historical New Listings by Month Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 4

5 Pending Sales A count of the properties on which offers have been accepted in a given month Year to Date % % + 5.0% + 7.1% + 2.7% -1.3% % -3.7% % + 1.7% % + 5.4% 388 Pending Sales Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg % % Historical Pending Sales by Month Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 5

6 Closed Sales A count of the actual sales that closed in a given month Year to Date % % + 7.1% % % % % -9.0% % + 4.4% % + 0.5% Closed Sales Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg % % Historical Closed Sales by Month Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 6

7 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. Year to Date $710,000 $730,000 $728,500 $681,188 $650,000 $600,000 $550,000 $485,000 $492,500 $429,000 $399,000 $388, % % + 2.8% -6.6% -2.8% % + 8.5% + 4.8% + 6.9% + 3.8% % + 1.5% Historical Median Sales Price by Month $2,000,000 Median Sales Price Aug-2016 $790, % $456, % Sep-2016 $998, % $509, % Oct-2016 $820, % $455, % Nov-2016 $795, % $535, % Dec-2016 $899, % $550, % Jan-2017 $782, % $505, % Feb-2017 $605, % $540, % Mar-2017 $768, % $495, % Apr-2017 $850, % $475, % May-2017 $828, % $590, % Jun-2017 $604, % $465, % Jul-2017 $730, % $429, % 12-Month Avg* $785, % $490, % * Median Sales Price for all properties from August 2016 through This is not the average of the individual figures above. $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 7

8 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. Year to Date $1,254,171 $1,370,529 $1,394,596 $1,137,544 $1,052,552 $1,122,913 $858,484 $975,021 $934,026 $766,971 $872,092 $683, % % -9.3% % % % + 4.5% % % % -6.6% % Historical Average Sales Price by Month $3,000,000 Avg. Sales Price Aug-2016 $1,163, % $598, % Sep-2016 $1,770, % $808, % Oct-2016 $1,160, % $715, % Nov-2016 $1,048, % $706, % Dec-2016 $1,942, % $811, % Jan-2017 $2,674, % $812, % Feb-2017 $1,188, % $1,049, % Mar-2017 $1,239, % $998, % Apr-2017 $1,654, % $1,056, % May-2017 $1,375, % $1,134, % Jun-2017 $1,068, % $928, % Jul-2017 $1,137, % $766, % 12-Month Avg* $1,383, % $850, % * Avg. Sales Price for all properties from August 2016 through This is not the average of the individual figures above. $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 8

9 Percent of List Price Received Percentage found when dividing a property s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 97.0% 97.0% 96.3% 97.1% 96.2% 97.5% + 1.7% 0.0% -0.7% + 0.8% -0.9% + 1.4% + 0.2% + 0.1% + 0.3% + 1.2% 0.0% + 0.5% Historical Percent of List Price Received by Month 100.0% Year to Date 95.8% 95.9% 96.2% 96.1% 96.1% 96.6% Pct. of List Price Received Aug % -0.2% 96.8% +0.3% Sep % +0.3% 96.6% -0.6% Oct % +0.2% 96.5% +0.8% Nov % +2.6% 96.0% +0.5% Dec % +2.2% 95.8% +0.4% Jan % +1.0% 96.6% +0.5% Feb % 0.0% 96.7% +1.2% Mar % +1.0% 96.0% -0.1% Apr % +1.4% 97.0% +1.4% May % +0.2% 95.7% -1.0% Jun % +0.8% 96.7% +0.8% Jul % -0.7% 97.5% +1.4% 12-Month Avg* 96.1% +0.6% 96.5% +0.4% * Pct. of List Price Received for all properties from August 2016 through This is not the average of the individual figures above. 95.0% 90.0% 85.0% 80.0% 75.0% 70.0% Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 9

10 Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. Year to Date Historical Days on Market Until Sale by Month % % + 8.5% -7.8% 0.0% % -1.2% % + 5.1% % + 8.6% % Days on Market Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg* % % * Days on Market for all properties from August 2016 through This is not the average of the individual figures above Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 10

11 Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. Year to Date Historical Housing Affordability Index by Month % % -5.8% % + 6.7% % -3.5% 0.0% % + 1.6% % -5.2% Affordability Index Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg* % % * Affordability Index for all properties from August 2016 through This is not the average of the individual figures above Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 11

12 Inventory of Active Listings The number of properties available for sale in active status at the end of a given month % + 2.7% % + 1.5% -3.3% % Active Listings Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg % % Historical Inventory of Active Listings by Month 1, Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 12

13 Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months Historical Months Supply of Inventory by Month % + 1.6% % -7.3% -8.9% % Months Supply Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % Feb % % Mar % % Apr % % May % % Jun % % Jul % % 12-Month Avg % % * Months Supply for all properties from August 2016 through This is not the average of the individual figures above Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 13

14 All Properties Activity Overview Key metrics for All Properties by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings % 1,271 1, % Pending Sales % % Closed Sales % % Median Sales Price $606,500 $585, % $586,500 $605, % Average Sales Price $1,054,000 $940, % $983,484 $1,177, % Pct. of List Price Received 96.6% 96.9% + 0.3% 96.0% 96.4% + 0.4% Days on Market Until Sale % % Housing Affordability Index % % Inventory of Active Listings 1, % Months Supply of Inventory % Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 14

15 Closed Sales Actual sales that have closed in a given month. By Price Range All Properties Rolling 12 Months By Property Type ,274 1, % % % % % - 4.2% % % % % + 6.2% % < $300K $300K to $599K $600K to $999K $1.0M to $1.4M $1.5M to $1.9M $2.0M to $2.5M $2.5M to $4.9M $5.0M to $9.9M $10.0M+ Singe Family- All Properties Rolling 12 Months Compared to Prior Month Year to Date By Price Range YTD 2015 YTD 2016 YTD 2015 YTD 2016 $299,999 and Below % % % % % % $300,000 to $599, % % % % % % $600,000 to $999, % % % % % % $1,000,000 to $1,499, % % % % % % $1,500,00 to $1,999, % % % % % % $2,000,000 to $2,499, % % % % % % $2,500,000 to $4,999, % % % % % $5,000,000 to $9,999, % % % % % % $10,000,000 and Above % % % % % All Price Ranges % % % % % % Inventory of Active Listings A measure of the number of homes available for sale at a given time. By Price Range All Properties By Property Type , % % - 8.8% % % % % - 3.1% % % % % < $300K $300K to $599K $600K to $999K $1.0M to $1.4M $1.5M to $1.9M $2.0M to $2.5M $2.5M to $4.9M $5.0M to $9.9M $10.0M+ Singe Family- All Properties Year over Year Compared to Prior Month Year to Date By Price Range $299,999 and Below % % % % $300,000 to $599, % % % % $600,000 to $999, % % % % $1,000,000 to $1,499, % % % % $1,500,00 to $1,999, % % % % $2,000,000 to $2,499, % % % % $2,500,000 to $4,999, % % % % $5,000,000 to $9,999, % % % % $10,000,000 and Above % % % % All Price Ranges % % % % There are no year-to-date figures for inventory because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months. Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 15

16 Glossary of Terms A research tool provided by the Colorado Association of REALTORS New Listings A measure of how much new supply is coming onto the market from sellers. Pending Sales A count of all the listings that went into Pending during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand. Closed Sales A measure of home sales that were closed to completion during the report period. Median Sales Price A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point. Average Sales Price A sum of all home sales prices divided by total number of sales. Percent of List Price Received A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period. Days on Market Until Sale A measure of how long it takes homes to sell, on average. Housing Affordability Index A measure of how affordable a region s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county. Inventory of Active Listings A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices. Months Supply of Inventory A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale. Current as of August 6, All data from the Vail Board of REALTORS MLS. Report 2017 ShowingTime. 16