500 Q Q Q Q Q Q Q Q Q Q Q Q1-2015

Transcription

1 A QUARTERLY UPDATE ON THE ROLE OF FORECLOSURES IN THE REGION PROVIDED BY THE METROPOLITAN INDIANAPOLIS BOARD OF REALTORS Number of Available for Sale 2,250 2,000 1,750 1,500 1,250 1, Q Update The slight uptick in foreclosures seen last quarter seem to be old forgotten memories this quarter. The number of active foreclosures for Q is down 3.6 percent. Inventory of Traditional listings is down 6.0 percent, and as a whole market inventory is down 5.9% to 12,857 units. As the inventory of foreclosure properties continue to dry up, so does the market share of foreclosure sales, which is down to just 8.5% for the quarter. Recovery continues to drive forward. As supply continues to give-way to demand, prices are rising in all aspects of the market. Median sales price of foreclosures grew 8.5 percent, which outpaced the growth of traditional listings at 6.7 percent. We can expect to see prices increase through the rest of the summer. Table of Contents New Listings, Closed Sales and Market Share of Inventory of Homes for Sale by Property Type and Price Range Median Sales Price and Percent of Original List Price Received Inventory, Closed Sales and Median Sales Price by Area Click on desired metric to jump to that page Explanation of Methodology To provide a detailed look at the foreclosure phenomenon and its effect on our local housing market, we have harnessed the data available in the Broker Listing Cooperative (BLC ). Whenever the field called Disclosure is listed as "Foreclosure," "Bank Owned" or "HUD-Owned" we have separated that property from those that do not contain these markers. This gives us the ability to view the housing market as two distinct segments: foreclosure and traditional. The following pages dig into foreclosure and traditional trends with greater detail. Data obtained from the Broker Listing Cooperative (BLC ). Powered by 10K Research and Marketing.

2 New Listings and Closed Sales New Listings 1, % 11,825 12,639 13, % 13,233 13,516 13, % 10.6% 6.5% 5.9% Closed Sales 1, % 7,750 7,747 8, % 9,166 8,603 9, % 15.4% 10.0% 8.5% 15.4% 10.6% 6.5% 5.9% 10.0% 8.5% New Listings Closed Sales Historical New Listing Activity Traditional 17,500 15,000 12,500 10,000 7,500 5,000 2,500 0 Historical Closed Sales Activity Traditional 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Data obtained from the Broker Listing Cooperative (BLC ). Powered by 10K Research and Marketing. 2

3 Inventory by Property Type (most recent month) Single-Family % 11,372 11,911 11, % 12,138 12,523 11, % 6.3% 4.9% 5.1% Townhouse-Condo % 1,228 1, % 1,265 1, % 2.9% 4.1% 2.9% All Properties % 12,600 12,997 12, % 13,403 13,656 12, % 6.0% 4.8% 4.9% Foreclosure Inventory by Property Type Single-Family Townhouse-Condo All Properties Inventory by Price Range (most recent month) $75,000 and Below % 2,098 2,058 2, % 2,562 2,356 2, % 18.1% 12.6% 13.4% $75,001 to $120, % 3,141 2,945 2, % 3,354 3,137 2, % 6.4% 6.1% 7.0% $120,001 to $175, % 2,677 2,558 2, % 2,745 2,670 2, % 2.5% 4.2% 3.3% $175,001 to $200, % 1,745 1,952 1, % 1,778 1,987 1, % 1.9% 1.8% 1.3% $200,001 to $350, % 1,162 1,417 1, % 1,175 1,428 1, % 1.1% 0.8% 0.9% $350,001 to $500, % 866 1,066 1, % 874 1,073 1, % 0.9% 0.7% 0.7% $500,001 to $750, % % % 0.7% 0.2% 0.8% $750,001 to $1,000, % % % 0.6% 1.3% 0.4% $1,000,001 and Above % % % 0.0% 0.5% 0.4% All Prices % 12,600 12,997 12, % 13,403 13,656 12, % 6.0% 4.8% 4.9% Foreclosure Inventory by Price Range $75,000 and Below $75,001 to $120,000 $120,001 to $175,000 $175,001 to $200,000 $200,001 to $350,000 $350,001 to $500,000 $500,001 to $750,000 $750,001 to $1,000,000 $1,000,001 and Above Data obtained from the Broker Listing Cooperative (BLC ). Powered by 10K Research and Marketing. 3

4 Median Sales Price Single-Family $68,900 $65,000 $70, % $150,000 $153,000 $163, % $139,000 $144,900 $155, % Condo-Townhome $58,000 $67,725 $68, % $124,000 $130,000 $133, % $118,875 $125,000 $130, % All Properties $68,000 $65,000 $70, % $148,500 $150,000 $160, % $137,500 $142,900 $153, % Median Sales Price for All Properties $148,500 $160,000 $150,000 $153,000 $137,500 $142,900 $68,000 $65,000 $70,311 Percent of Original List Price Received Single-Family 87.0% 91.0% 89.3% - 1.8% 93.5% 94.7% 95.0% + 0.4% 92.6% 94.3% 94.5% + 0.3% Condo-Townhome 81.2% 86.0% 86.5% + 0.5% 91.1% 93.3% 94.7% + 1.5% 90.1% 92.9% 94.3% + 1.5% All Properties 86.7% 90.7% 89.2% - 1.7% 93.3% 94.5% 95.0% + 0.5% 92.4% 94.2% 94.5% + 0.4% Percent of Original List Price Received for All Properties 90.7% 89.2% 93.3% 94.5% 95.0% 94.2% 94.5% 92.4% 86.7% Data obtained from the Broker Listing Cooperative (BLC ). Powered by 10K Research and Marketing. 4

5 Inventory and Closed Sales by Area Total represents all traditional and lender-mediated activity. Share represents the market share of lender-mediated sales for each area. Inventory for Q Closed Sales for the Last 12 Months Q Total Share Total Share Boone County % 1, % Brown County % % Decatur County % % Hamilton County 2, % 6, % Hancock County % 1, % Hendricks County % 2, % Johnson County % 2, % Madison County % 1, % Marion County 5, % 12,566 1, % Montgomery County % % Morgan County % % Putnam County % % Shelby County % % Median Sales Price by Area Traditional Q Q Q Q Boone County $73,000 $99, % $224,000 $228, % Brown County $78,275 $54, % $151,850 $155, % Decatur County $39,500 $42, % $121,750 $115, % Hamilton County $129,000 $138, % $219,000 $225, % Hancock County $89,451 $88, % $146,900 $153, % Hendricks County $93,100 $97, % $157,612 $165, % Johnson County $76,500 $86, % $140,000 $150, % Madison County $35,000 $35, % $92,000 $92, % Marion County $55,034 $61, % $124,000 $125, % Montgomery County $40,000 $38, % $107,000 $105, % Morgan County $79,155 $65, % $135,500 $144, % Putnam County $56,799 $51, % $119,900 $114, % Shelby County $50,110 $50, % $118,000 $120, % Data obtained from the Broker Listing Cooperative (BLC ). Powered by 10K Research and Marketing. 5