HOUSING REPORTS. Mountain District Single Family and Condo. Quarter 2, Colorado Association of REALTORS

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1 HOUSING REPORTS Research tools provided by the Colorado Association of REALTORS Mountain District and Quarter 2, Colorado Association of REALTORS

2 Total Market Overview Key metrics by report quarter and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Q YTD-2013 YTD-2014 New Listings 3,149 3, % 5,160 5, % Pending / Under Contract 1,335 1, % 2,570 2, % Sold Listings 1,438 1, % 2,436 2, % Median Sales Price $359,900 $415, % $360,000 $416, % Average Sales Price $668,214 $873, % $663,122 $841, % Pct. of List Price Received 95.2% 95.1% - 0.1% 95.1% 94.9% - 0.2% Days on Market % % Affordability Index % % Active Listings Not enough historical data for chart -- 6, Months Supply Not enough historical data for chart MOUNTAIN REGION: Residential real estate activity comprised of single-family properties, townhomes and condominiums from the Aspen Board of REALTORS, Glenwood Springs Association of REALTORS, Gunnison Country Association of REALTORS Inc, Steamboat Springs Association of REALTORS, Summit Association of REALTORS, Telluride Association of REALTORS and Vail Board of REALTORS. Percent changes calculated using rounded figures and year-over-year comparisons. Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 1

3 Market Overview Key metrics by report quarter and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Q YTD-2013 YTD-2014 New Listings 1,796 1, % 2,779 2, % Pending / Under Contract % 1,293 1, % Sold Listings % 1,205 1, % Median Sales Price $404,250 $495, % $405,000 $495, % Average Sales Price $800,839 $1,054, % $794,583 $1,025, % Pct. of List Price Received 95.3% 95.0% - 0.3% 95.2% 94.8% - 0.4% Days on Market % % Affordability Index % % Active Listings Not enough historical data for chart -- 3, Months Supply Not enough historical data for chart Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 2

4 Market Overview Key metrics by report quarter and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Q YTD-2013 YTD-2014 New Listings 1,324 1, % 2,332 2, % Pending / Under Contract % 1,271 1, % Sold Listings % 1,225 1, % Median Sales Price $325,000 $370, % $326,250 $375, % Average Sales Price $535,254 $702, % $534,149 $680, % Pct. of List Price Received 95.2% 95.3% + 0.1% 94.9% 95.1% + 0.2% Days on Market % % Affordability Index % % Active Listings Not enough historical data for chart -- 2, Months Supply Not enough historical data for chart Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 3

5 New Listings to Date 1,888 2,830 1,796 2,779 2,780 1,709 2,374 2,332 2,391 1,430 1,365 1,324 Q Q Q Q Q Q Q Q % + 5.1% + 5.1% - 3.1% - 3.0% + 8.0% - 4.1% - 1.8% + 0.0% - 6.9% - 1.8% + 2.5% New Listings Q , % 1, % Q % 1, % Q , % 1, % Q , % 1, % Q , % 1, % Q % % Q % 1, % Q , % 1, % Q , % 1, % Q % % Q % % 1, % 1, % Historical New Listings by Quarter 2,250 2,000 1,750 1,500 1,250 1, Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 4

6 Pending / Under Contract to Date 1,339 1,293 1,302 1,271 1,156 1,452 Q Q Q Q Q Q Q Q % - 5.9% % % % % % - 3.4% + 0.7% % + 9.9% % Pending / Under Contract Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % % % Historical Pending / Under Contract by Quarter Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 5

7 Sold Listings to Date 1,215 1,205 1,225 1,091 1,077 1,267 Q Q Q Q Q Q Q Q % + 2.0% - 6.7% % % + 2.0% % - 0.8% - 9.5% + 9.2% % + 3.4% Sold Listings Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % % % Historical Sold Listings by Quarter Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 6

8 Median Sales Price to Date $495,000 $495,000 $395,000 $404,250 $405,000 $370,000 $385,000 $375,000 $315,000 $325,000 $303,375 $326,250 Q Q Q Q Q Q Q Q % + 2.3% % - 1.6% + 3.2% % - 6.1% + 5.2% % % + 7.5% % Median Sales Price Q $388, % $299, % Q $375, % $299, % Q $371, % $295, % Q $395, % $315, % Q $393, % $300, % Q $440, % $320, % Q $405, % $330, % Q $404, % $325, % Q $433, % $337, % Q $480, % $330, % Q $497, % $380, % $495, % $370, % Historical Median Sales Price by Quarter $600,000 $500,000 $400,000 $300,000 $200,000 Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 7

9 Average Sales Price to Date $1,054,258 $1,025,779 $919,985 $902,502 $800,839 $794,583 $702,775 $680,943 $510,282 $535,254 $555,813 $534,149 Q Q Q Q Q Q Q Q % % % % + 4.9% % % % % % - 3.9% % Average Sales Price Q $782, % $514, % Q $854, % $529, % Q $878, % $614, % Q $919, % $510, % Q $870, % $493, % Q $956, % $538, % Q $785, % $532, % Q $800, % $535, % Q $852, % $551, % Q $935, % $541, % Q $980, % $651, % $1,054, % $702, % Historical Average Sales Price by Quarter $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 8

10 Percent of List Price Received 93.3% 95.3% 95.0% 94.8% 95.2% 95.3% Historical Percent of List Price Received by Quarter 96.0% to Date 93.1% 95.2% 94.8% 94.4% 94.9% 95.1% Q Q Q Q Q Q Q Q Q Q Q % 95.0% + 2.1% - 0.3% + 1.0% + 2.8% + 0.4% + 2.1% + 0.1% + 0.7% 94.8% + 2.2% - 0.4% 95.2% + 2.1% + 0.5% 95.3% + 0.2% Pct. of List Price Received Q % +0.7% 92.8% +0.5% Q % +1.3% 93.0% +1.6% Q % +0.2% 93.9% +1.2% Q % +1.0% 94.8% +2.8% Q % +1.1% 94.2% +1.5% Q % +1.6% 94.5% +1.6% Q % +2.4% 94.6% +0.7% Q % +2.1% 95.2% +0.4% Q % +1.2% 95.3% +1.2% Q % +1.3% 94.9% +0.4% Q % -0.6% 94.8% +0.2% 95.0% -0.3% 95.3% +0.1% * Pct. of List Price Received for all properties from Q through. This is not the average of the individual figures above. 94.0% 92.0% 90.0% 88.0% 86.0% Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 9

11 Days on Market Until Sale Average b f to Date Historical Days on Market Until Sale by Quarter 280 Q Q Q Q Q Q Q Q % - 6.8% - 1.7% + 1.0% - 8.7% - 2.1% - 3.4% % + 0.6% - 3.8% - 9.8% + 4.9% Days on Market Until Sale Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % % % * Days on Market for all properties from Q through. This is not the average of the individual figures above Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 10

12 Housing Affordability Index to Date Historical Housing Affordability Index by Quarter 140 Q Q Q Q Q Q Q Q % - 9.9% % % % - 8.8% % % % % % - 9.9% Housing Affordability Index Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % Q % % % % Q Current as of July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 11

13 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 (e.g., Q3 New Listings are those listings with a system list date from July 1 through September 30). Pending/Under Contract A count of all the listings that went into Pending / Under Contract during the reported period. Pending / Under Contract listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending / Under Contract, out of Pending / Under Contract, then back into Pending / Under Contract all in one reported period, this listing would only be counted once. This is the most realtime 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. Sold Listings 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 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. 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 Listings 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 July 11, All data from the multiple listing services in the state of Colorado. Powered by 10K Research and Marketing. 12