ly Market Detail - January 216 Summary Statistics January 216 January 215 Paid in Cash 32 351-8.8% 15 16-34.4% New Pending Sales 483 578-16.4% 817 798 2.4% $172, $141,9 21.2% Average Sale Price $182,155 $151,357 2.3% Median Days on Market 34 36-5.6% Average Percent of Original List Price Received 94.7% 94.9% -.2% Pending Inventory Inventory (Active Listings) 829 1,935 954-13.1% 1,843 5.% s Supply of Inventory 4.2 3.8 9.1% The number of sales transactions which closed during Economists' note : are one of the simplest yet most important indicators for the residential real estate market. When comparing across markets of different sizes, we recommend using the year-over-year percent changes rather than the absolute counts. Realtors and their clients should also be wary of month-to-month comparisons of because of potential seasonal effects. January 216 32-8.8% December 215 463.2% November 215 384 October 215 496 September 215 472 August 215 467 July 215 539 June 215 51 May 215 478 April 215 555 March 215 515 February 215 381 January 215 351-13.3%.4% -4.3% -5.3% 7.4% -7.9% -19.8% 12.1% 3.8% -9.5%.% 7 6 5 4 3 2 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - January 216 Cash Sales The number of during in which buyers exclusively paid in cash Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care. Cash Sales January 216 15-34.4% December 215 171-15.8% November 215 158-21.% October 215 174-19.1% September 215 162-24.3% August 215 18-25.3% July 215 22-1.6% June 215 169-34.5% May 215 166-42.2% April 215 22-7.9% March 215 233-4.9% February 215 165-26.% January 215 16-22.7% 4 3 2 Cash Sales as a Percentage of The percentage of during which were Cash Sales Economists' note : This statistic is simply another way of viewing Cash Sales. The remaining percentages of (i.e. those not paid fully in cash) each month involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc. Percent of Closed Sales Paid in Cash January 216 32.8% -28.% December 215 36.9% -15.9% November 215 41.1% -8.9% October 215 35.1% -19.4% September 215 34.3% -2.9% August 215 38.5% -21.2% July 215 37.5% -16.8% June 215 33.7% -28.9% May 215 34.7% -27.9% April 215 39.6% -17.9% March 215 45.2% -8.4% February 215 43.3% -18.2% January 215 45.6% -22.7% 72% 62% 52% 42% 32% 22% Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Pending Sales ly Market Detail - January 216 New Pending Sales The number of property listings that went from "Active" to "Pending" status during Economists' note : Because of the typical length of time it takes for a sale to close, economists consider Pending Sales to be a decent indicator of potential future. It is important to bear in mind, however, that not all Pending Sales will be closed successfully. So, the effectiveness of Pending Sales as a future indicator of Closed Sales is susceptible to changes in market conditions such as the availability of financing for homebuyers and the inventory of distressed properties for sale. January 216 December 215 November 215 October 215 September 215 August 215 July 215 June 215 May 215 April 215 March 215 February 215 January 215 New Pending Sales 483 39 45 57 527 589 575 67 56 635 682 59 578-16.4% -17.9% -23.7% -26.8% -16.2% -12.2% -13.4% -16.7% -31.3% -18.7% -15.% -.5% -5.7% 1, 8 6 4 2 The number of properties put onto the market during Economists' note : In a recovering market, we expect that new listings will eventually rise as sellers raise their estimations of value. But this increase will take place only after the market has turned up, so New Listings are a lagging indicator of the health of the market. Also be aware of properties which have been withdrawn from the market and then relisted. These are not really. January 216 December 215 November 215 October 215 September 215 August 215 July 215 June 215 May 215 April 215 March 215 February 215 January 215 817 527 647 689 669 645 697 699 646 675 75 665 798 2.4% 1.% 15.1% -2.5% -1.9% -3.9% -2.% 3.1% -8.9% -15.% -4.6% -1.9% -1.8% 9 8 7 6 5 4 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Average Sale Price ly Market Detail - January 216 The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) Economists' note : is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. January 216 $172, 21.2% December 215 $173,25 19.2% November 215 $155, 1.8% October 215 $163,5 14.1% September 215 $166, 15.3% August 215 $155,5 13.5% July 215 $161, 2.1% June 215 $16, 18.6% May 215 $154,5 18.2% April 215 $156, 2.9% March 215 $15, 15.4% February 215 $142,25 15.2% January 215 $141,9 23.4% $18K $16K $14K $12K $K $8K Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) Economists' note : As noted above, we prefer over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses particularly when it is analyzed alongside the. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area. Average Sale Price January 216 $182,155 2.3% December 215 $191,722 16.4% November 215 $176,5 17.2% October 215 $178,595 16.1% September 215 $182,34 15.6% August 215 $165,992 9.7% July 215 $173,82 17.3% June 215 $175,875 18.9% May 215 $17,562 13.1% April 215 $179,252 25.8% March 215 $171,944 2.3% February 215 $158,15 18.9% January 215 $151,357 17.9% $2K $18K $16K $14K $12K $K Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - January 216 Median Days on Market The median number of days that properties sold during were on the market Economists' note : Median Days on Market is the amount of time the "middle" property selling this month was on the market. That is, 5% of homes selling this month took less time to sell, and 5% of homes took more time to sell. We use the median rather than the average because the median is not particularly sensitive to sales of homes that took an unusually large amount of time to sell relative to the vast majority of homes in the market. Median Days on Market January 216 34-5.6% December 215 32-3.4% November 215 29-38.3% October 215 3-37.5% September 215 3-37.5% August 215 22-55.1% July 215 25-51.9% June 215 35-34.% May 215 25-51.9% April 215 38-35.6% March 215 4-36.5% February 215 37-36.2% January 215 36-35.7% 8 6 4 2 Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during Economists' note : The Average Percent of Original List Price Received is an indicator of market conditions, in that in a recovering market, the measure rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market that has shifted from down to up, and is another lagging indicator. Avg. Pct. of Orig. List Price Received January 216 94.7% -.2% December 215 95.1%.5% November 215 96.% 1.2% October 215 96.1% 1.1% September 215 96.% 1.8% August 215 96.8% 1.5% July 215 95.9% 1.5% June 215 94.9% 1.3% May 215 96.2% 4.2% April 215 94.7% 3.% March 215 94.8% 2.8% February 215 95.3% 2.4% January 215 94.9% 2.8% % 95% 9% 85% Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
s Supply of Inventory Inventory ly Market Detail - January 216 Inventory (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to calculate Inventory, so these numbers may not match up to others you see in your market. We calculate Inventory by counting the number of active listings on the last day of, and hold this number to compare with the same month the following year. Inventory January 216 1,935 5.% December 215 1,754.3% November 215 1,75-2.5% October 215 1,675-8.6% September 215 1,598-14.2% August 215 1,559-17.3% July 215 1,594-16.7% June 215 1,572-2.4% May 215 1,59-21.9% April 215 1,67-23.4% March 215 1,733-22.4% February 215 1,827-21.3% January 215 1,843-14.3% 3,9 3,4 2,9 2,4 1,9 1,4 s Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates Economists' note : This is an indicator of the state of the market, whether it is a buyers' market or a sellers' market. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 s of Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. s Supply January 216 4.2 9.1% December 215 3.8 3.7% November 215 3.7.3% October 215 3.6-7.7% September 215 3.4-14.7% August 215 3.3-19.8% July 215 3.4-2.1% June 215 3.3-24.2% May 215 3.3-27.2% April 215 3.4-31.8% March 215 3.6-3.3% February 215 3.8-29.5% January 215 3.8-24.4% 1. 8. 6. 4. 2. Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Median Days on Market ly Market Detail - January 216 by Sale Price The number of sales transactions which closed during Economists' note : are one of the simplest yet most important indicators for the residential real estate market. When comparing across markets of different sizes, we recommend using the year-over-year percent changes rather than the absolute counts. Realtors and their clients should also be wary of month-to-month comparisons of because of potential seasonal effects. 12 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 9-3.8% $5, - $99,999 31-64.% $, - $149,999 77-2.6% $15, - $199,999 8.7% $2, - $249,999 54 8.% $25, - $299,999 29 61.1% $3, - $399,999 11.% $4, - $599,999 7 25.% $6, - $999,999 2.% $1,, or more N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 12 8 6 4 2 Median Days on Market by Sale Price The median number of days that properties sold during were on the market Economists' note: Median Days on Market is the amount of time the "middle" property selling this month was on the market. That is, 5% of homes selling this month took less time to sell, and 5% of homes took more time to sell. We use the median rather than the average because the median is not particularly sensitive to sales of homes that took an unusually large amount of time to sell relative to the vast majority of homes in the market. 18 16 14 12 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 32-15.8% $2, - $249,999 44-27.9% $25, - $299,999 Median Days on Market Less than $5, 33 17.9% $5, - $99,999 21-32.3% $, - $149,999 21-25.% 95-8.7% $3, - $399,999 59-43.3% $4, - $599,999 85-4.1% $6, - $999,999 161 16.% $1,, or more (No Sales) N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 18 16 14 12 8 6 4 2 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Inventory ly Market Detail - January 216 by Initial Listing Price The number of properties put onto the market during Economists' note: In a recovering market, we expect that new listings will eventually rise as sellers raise their estimations of value. But this increase will take place only after the market has turned up, so New Listings are a lagging indicator of the health of the market. Also be aware of properties which have been withdrawn from the market and then relisted. These are not really. 25 2 15 5 January 215 January 216 Initial Listing Price Less than $5, 7-66.7% $5, - $99,999 49-53.3% $, - $149,999 145-29.3% $15, - $199,999 22 13.5% $2, - $249,999 159 47.2% $25, - $299,999 121 4.7% $3, - $399,999 69 53.3% $4, - $599,999 24-31.4% $6, - $999,999 28 25.% $1,, or more 13 85.7% 25 2 15 5 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more Inventory by Current Listing Price The number of property listings active at the end of Economists' note: There are a number of ways to calculate Inventory, so these numbers may not match up to others you see in your market. We calculate Inventory by counting the number of active listings on the last day of, and hold this number to compare with the same month the following year. 45 4 35 3 25 2 15 5 Less than $5, January 215 January 216 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 21-56.3% $5, - $99,999 16-49.8% $, - $149,999 239-29.9% $15, - $199,999 39 16.4% $2, - $249,999 37 3.3% $25, - $299,999 32 4.5% $3, - $399,999 214 42.7% $4, - $599,999 14.7% $6, - $999,999 18 52.1% $1,, or more 45-8.2% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 45 4 35 3 25 2 15 5 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
ly Distressed Market - January 216 January 216 January 215 Traditional 263 228 15.4% $175,95 $15,725 16.7% Foreclosure/REO 47 14-54.8% $152,9 $124,25 23.1% Short Sale 1 19-47.4% $128,45 $129, -.4% % 9% 8% 7% 6% 5% 4% 3% 2% 1% % $2, $18, $16, $14, $12, $, $8, $6, $4, $2, $ Traditional Foreclosure/REO Short Sale Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.