REL ESTTE RKET REPORT INTERIOR RKET REPORT Su Tu W 2 3 4 5 9 2 6 7 8 9 23 24 25 26 3 3 Th F Sa Sunday, December 9 28 6 7 8 3 4 5 2 2 22 27 28 29 TBLE OF CONTENTS Charts and Commentary.. Pages -2 arket Summary Table.. Page 3 Glossary... Page 4 Somers & ssociates RELTORS, Inc. 7 Gaffney Road Suite Fairbanks, laska 997 www.tracischachle.com 97-322-228 http://www.facebook.com/alaskarealtor www.linkedin.com/in/tracischachle https://twitter.com/realestateinak http://www.youtube.com/krealestategirls Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT INTERIOR RKET REPORT Sunday, December 9, 28 Let's take a look at the real estate market. Currently there are 3 sales pending in the market overall, leaving 39 listings still for sale. The resulting pending ratio is 25.% (3 divided by 42). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked! The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. lternatively, a low ratio means there are not enough qualified buyers for the existing supply. "Current inventory is described as mildly active." Somers & ssociates RELTORS, Inc. 97-322-228 Taking a closer look, we notice that the 2K - 25K price range has a relatively large number of contracts pending sale. We also notice that the 5K - 2K price range has a relatively large inventory of properties for sale at 57 listings. The median list price (or asking price) for all properties in this market is 234,. 6 5 4 3 2 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Interior arket Report Updated 2/9/28, RealarketReports.com Copyright K 5K K 5K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K 6 4 2 Sold Off-arket Sold vs. Off-arket (Last 6 mos.) Interior arket Report Updated 2/9/28, RealarketReports.com Copyright total of 56 contracts have closed in the last 6 months with a median sold price of 237,. Breaking it down, we notice that the 2K - 25K price range contains the highest number of sold listings. 8 6 4 2 K 5K K 5K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K lternatively, a total of 385 listings have failed to sell in that same period of time. ings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The 2K - 25K price range has the highest number of off-market listings at 8 properties. Real arket Reports www.realarketreports.com arket Dashboard
REL ESTTE RKET REPORT INTERIOR RKET REPORT Sunday, December 9, 28 Somers & ssociates RELTORS, Inc. 97-322-228 Looking at the chart to the right, you might be wondering why average days on market (DO) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DO), or a seller's market (indicated by low DO). ctive listings (properties for sale) have been on the market for a median time of 9 days. 8 6 4 2 8 Sold For Sale edian Days on arket (DO) Interior arket Report Updated 2/9/28, RealarketReports.com Copyright nalysis of sold properties for the last six months reveals a median sold price of 237, and 22 days on market. Notice that properties in the 35K - 4K price range have sold quickest over the last six months. 6 4 2 K 5K K 5K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 233,5 with a DO of 38 days. Since the recent DO is greater than the median DO for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes. "The median list-to-sales ratio for this area is 98.8%." Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property. nalysis of the absorption rate indicates an inventory of 3.3 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future. 3K 25K 2K 5K K 5K K edian Sold s Interior arket Report Copyright Updated 2/9/28, RealarketReports.com Jul ug Sep Oct Nov Dec 4 35 3 25 2 5 5 edian Days on arket (Sold) Interior arket Report Copyright Updated 2/9/28, RealarketReports.com Jul ug Sep Oct Nov Dec Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT INTERIOR RKET REPORT Sunday, December 9, 28 RKET SURY TBLE 3 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 6 5, 99,999 3, 49,999 28 5, 99,999 57 2, 249,999 57 25, 299,999 57 3, 349,999 39 35, 399,999 6 4, 449,999 45, 499,999 3 5, 549,999 2 55, 599,999 6, 649,999 39 CTIVE [] Days on arket 3 Current 43,33 47,45 29,463 9 33,95 75 229,9 Pend Ratio 3 33% 8 385 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 8 275,635 33 282,3 278,729 274,297 23 29% 59 5 88 273, 2 278,9 278, 274,9 5 327,535 35 332,676 326,692 323,792 99% 7 5% 58 65 86 325, 7 329,9 325, 324,9 % 23 379,78 27 379,42 376,37 369,524 98% 7 3% 29 47 377,45 9 38, 375, 369,9 99% 429,873 5 445,354 436,262 25 425, 48 44, 434,9 427,5 98% 69 458,333 36 496,25 482,84 6 45, 2 499,45 482,4 457,5 95% 2 533,75 42 549,9 549,9 47 5 56 SOLD/CLOSED (last 6 months) [4] 2 533,75 42 549,9 549,9 549,9 % Days on arket 22 72,993 4 2% 23 27 93 7, 3 6 96 84 6 8,38 79,9 227,274 23 579, 23 579, 5 35% 48 8 24% 7 24 3% 8% 6 5 N/ 2 65, 699,999 83 3 65 5,3 4 5, 85 9,495 83,749 75,885 59 29 38 Original 84,9 84,5 23,434 7 229,9 44,6 38,4 86% 44,95 39, 34,9 3, 65 85,542 8,663 77,27 Final 228,593 Sold/ Closed - Sale Ratio 87% 9% 9,9 82,8 79, 95% 38,6 38 38,26 64 8, 649,9 Somers & ssociates RELTORS, Inc. 97-322-228 3,966 26,546 96% 96% 98% 78,5 97% 224,96 98% 229,5 226,5 99% 98% 99% 424,445 97% 463,69 96% 549,9 % 64, 98% 64 8, 649,9 64, 98% Est. os. 6.7 4. 2.3 3.3 2 5..8 2 N/ 7, + 2 Date Range (Off-arket & Sold) = 6//28 to 2/9/28 Data believed to be accurate but not guaranteed. 767, arket verages 4 236,895 arket Totals 39 3 25% 6 735, 735, 735, % 767, 6 735, 735, 735, % 385 56 45 252,62 247,997 arket edians 9 234, 22 245, 239,9 Status = [] CTIVE; [2] PENDING; [3] WITHDRWN, EXPIRED; [4] SOLD rea =, 5, 2, 22, 25, 3, 35, 4, 45, 47, 5, 6, 65 Type = SINGLE FILY Favors Sellers 243,43 98% 237, 99% Favors Buyers 2 3.3 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT INTERIOR RKET REPORT Sunday, December 9, 28. PROPERTIES FOR SLE (CTIVE) a. ber ctive: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on arket (DO): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current : The price that a property seller is currently asking. 2. CONTRCTS PENDING a. ber Pending: The number of current listings for which a contract has been signed but has not yet closed. Somers & ssociates RELTORS, Inc. 97-322-228 b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio = P (ber of Pending ings) +P (ber of ctive + Pending) (P) represents properties that buyers have chosen (+P) represents the entire pool from which they have chosen 3. OFF-RKET a. ber Off-arket: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRCT) a. ber Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on arket (DO): The marketing time it has taken properties to sell in the last 6 months. c. Original : The price at which a sold property was originally marketed. d. Final : The price at which a sold property was marketed just prior to selling. e. Sold/Closed : The price for which a property sold. f. to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. to Sales Ratio = Sold Final 5. BSORPTION RTE / ONTHS OF INVENTORY a. bsorption Rate / onths of Inventory: n estimate of how fast listings are currently selling measured in months. For example, if properties sell per month and there are 8 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market. Real arket Reports www.realarketreports.com 4 Glossary