Monthly Indicators - 6.1% + 6.6% + 4.3% Activity Overview New Listings. Closed Sales Median Sales Price

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1 Monthly Indicators 2017 The number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers. New Listings were down 0.8 percent to 2,631. Pending Sales decreased 4.2 percent to 2,566. Inventory grew 4.3 percent to 20,242 units. Prices moved higher as the Median Sales Price was up 6.6 percent to $437,000. Average Sales Price increased 7.0 percent to $532,960. Months Supply of Inventory was up 1.7 percent to 6.0 months. Unemployment rates have remained low throughout 2017, and wages have shown improvement, though not always to levels that match home price increases. Yet housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase further in Home building and selling professionals are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism, with or without new federal tax legislation. Activity Snapshot - 6.1% + 6.6% + 4.3% One-Year Change in Closed Sales One-Year Change in Median Sales Price Activity Overview New Listings Closed Sales Median Sales Price Average Sales Price Pending Sales Median Contract Price Average Contract Price Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory One-Year Change in Homes for Sale Residential activity in Nassau, Queens and Suffolk counties, comprised of single-family homes, townhomes and co-ops combined. Percent changes are calculated using rounded figures Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime.

2 Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent Change YTD 2016 YTD 2017 Percent Change New Listings 2,652 2, % 58,549 59, % Closed Sales 3,387 3, % 37,746 38, % Median Sales Price $410,000 $437, % $400,000 $430, % Avg. Sales Price $498,268 $532, % $494,630 $523, % Pending Sales 2,678 2, % 39,176 40, % Median Contract Price $410,000 $439, % $400,000 $430, % Average Contract Price $499,845 $535, % $496,702 $525, % Affordability Index % % Homes for Sale 19,414 20, % Months Supply % Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 2

3 New Listings A count of the properties that have been newly listed on the market in a given month. 2,996 62,293 58,549 59,226 2,652 2, % - 0.8% - 6.0% + 1.2% New Listings January ,387 4, % February ,482 4, % March ,072 6, % April ,667 6, % May ,390 6, % June ,996 5, % July ,452 5, % August ,032 4, % September ,787 4, % October ,535 4, % November ,795 3, % ,631 2, % 12-Month Avg 4,936 4, % Historical New Listings by Month 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 3

4 Closed Sales A count of the actual sales that closed in a given month. 3,271 3,387 37,746 38,797 3,182 34, % - 6.1% + 9.7% + 2.8% Closed Sales January ,812 2, % February ,469 2, % March ,907 2, % April ,505 2, % May ,141 2, % June ,726 3, % July ,537 3, % August ,357 4, % September ,471 3, % October ,489 3, % November ,201 3, % ,182 3, % 12-Month Avg 3,233 3, % Historical Closed Sales by Month 5,000 4,000 3,000 2,000 1,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 4

5 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. $437,000 $430,000 $410,000 $382,500 $387,000 $400, % + 6.6% + 3.4% + 7.5% Median Sales Price January 2017 $418,000 $385, % February 2017 $395,000 $382, % March 2017 $403,988 $373, % April 2017 $415,000 $380, % May 2017 $410,000 $393, % June 2017 $440,000 $407, % July 2017 $449,000 $415, % August 2017 $445,000 $419, % September 2017 $430,995 $415, % October 2017 $439,000 $412, % November 2017 $432,250 $400, % 2017 $437,000 $410, % 12-Month Avg $430,000 $400, % Historical Median Sales Price by Month * Median Sales Price for all properties from January 2017 through This is not the average of the individual figures above. $500,000 $475,000 $450,000 $425,000 $400,000 $375,000 $350,000 $325,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 5

6 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $532,960 $523,130 $498,268 $467,071 $478,570 $494, % + 7.0% + 3.4% + 5.8% Avg. Sales Price January 2017 $507,780 $479, % February 2017 $491,647 $481, % March 2017 $489,350 $469, % April 2017 $497,889 $461, % May 2017 $511,094 $494, % June 2017 $538,655 $514, % July 2017 $547,751 $503, % August 2017 $545,120 $507, % September 2017 $530,021 $500, % October 2017 $532,732 $517, % November 2017 $520,174 $483, % 2017 $532,960 $498, % 12-Month Avg* $523,130 $494, % Historical Average Sales Price by Month * Average Avg. Sales Price of all properties from January 2017 through This is not the average of the individual figures above. $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 6

7 Pending Sales A count of the properties on which offers have been accepted in a given month. 2,739 2,678 2,566 39,176 40,252 36, % - 4.2% + 7.9% + 2.7% Pending Sales January ,308 2, % February ,758 2, % March ,671 3, % April ,542 3, % May ,222 3, % June ,004 3, % July ,534 3, % August ,855 3, % September ,252 3, % October ,453 3, % November ,087 2, % ,566 2, % 12-Month Med* 3,354 3, % Historical Pending Sales by Month 5,000 4,000 3,000 2,000 1,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 7

8 Median Contract Price Point at which half of the contracts were signed for more and half were signed for less, not accounting for seller concessions, in a given month. $439,000 $430,000 $410,000 $385,000 $389,000 $400, % + 7.1% + 2.8% + 7.5% Median Contract Price January 2017 $420,000 $385, % February 2017 $395,000 $385, % March 2017 $405,000 $375, % April 2017 $415,000 $381, % May 2017 $415,000 $395, % June 2017 $441,500 $409, % July 2017 $449,000 $415, % August 2017 $445,000 $420, % September 2017 $434,450 $415, % October 2017 $439,350 $414, % November 2017 $435,000 $400, % 2017 $439,000 $410, % 12-Month Avg* $430,000 $400, % Historical Median Contract Price by Month * Median Contract Price of all properties from January 2017 through This is not the average of the individual figures above. $460,000 $440,000 $420,000 $400,000 $380,000 $360,000 $340,000 $320,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 8

9 Average Contract Price Average contract price for all pending sales, not accounting for seller concessions, in a given month. $535,205 $525,148 $499,845 $468,751 $480,665 $496, % + 7.1% + 3.3% + 5.7% Average Contract Price January 2017 $509,933 $480, % February 2017 $492,998 $483, % March 2017 $490,788 $471, % April 2017 $500,328 $463, % May 2017 $514,699 $497, % June 2017 $540,400 $515, % July 2017 $549,644 $505, % August 2017 $547,086 $509, % September 2017 $531,931 $502, % October 2017 $535,015 $519, % November 2017 $521,350 $485, % 2017 $535,205 $499, % 12-Month Avg* $525,148 $496, % Historical Average Contract Price by Month * Average Average Contract Price for all properties from January 2017 through This is not the average of the individual figures above. $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 9

10 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 % - 1.0% - 7.3% -3.0% Affordability Index January % February % March % April % May % June % July % August % September % October % November % % 12-Month Avg % Historical Housing Affordability Index by Month Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 10

11 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 21,646 19,414 20, % + 4.3% Homes for Sale January ,964 22, % February ,567 22, % March ,688 22, % April ,593 23, % May ,345 23, % June ,939 23, % July ,393 23, % August ,996 23, % September ,821 23, % October ,139 22, % November ,192 21, % ,242 19, % 12-Month Avg 22,490 22, % Historical Inventory of Homes for Sale by Month 60,000 50,000 40,000 30,000 20,000 10,000 Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 11

12 Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % + 1.7% Months Supply January % February % March % April % May % June % July % August % September % October % November % % 12-Month Avg % Historical Months Supply of Inventory by Month Current as of January 10, All data from the Multiple Listing Service of Long Island. Provided by the New York State Association of REALTORS. Report 2018 ShowingTime. 12