ly Market Detail - January 217 Summary Statistics January 217 January 216 Paid in Cash 6 7-14.3% 44 42 4.8% $155,5 $137, 13.5% Average Sale Price Dollar Volume $168,836 $167,937.5% $1.1 Million $11.8 Million -13.8% Median Percent of Original List Price Received 94.6% 95.6% -1.% Median Time to Contract 64 Days 38 Days 68.4% Median Time to Sale 95 Days 83 Days 14.5% New Pending Sales New Listings 9 156 87 3.4% 148 5.4% Pending Inventory 93 Inventory (Active Listings) 423 s Supply of Inventory 5.5 93.% 325 3.2% 4. 37.5% January 217 6-14.3% December 216 71.% November 216 64 3.2% October 216 63-12.5% Economists' note : are one of the simplest yet most September 216 74.% important indicators for the residential real estate market. When August 216 75 1.4% comparing across markets of different sizes, we July 216 6-9.1% recommend comparing the percent changes in sales rather than the June 216 12 36.% number of sales. (and many other market metrics) are May 216 9.% affected by seasonal cycles, so actual trends are more accurately April 216 18-3.6% represented by year-over-year changes (i.e. comparing a month's sales March 216 95-24.6% to the amount of sales in the same month in the previous year), rather February 216 63-22.2% than changes from one month to the next. January 216 7 55.6% The number of sales transactions which closed during 15 213 214 215 216 1 5 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - January 217 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 217 44 4.8% December 216 42-16.% November 216 42 5.% October 216 44-13.7% September 216 4-16.7% August 216 49.% July 216 4-7.% June 216 62 12.7% May 216 59 1.7% April 216 59-25.3% March 216 66-26.7% February 216 49-29.% January 216 42 23.5% 12 1 8 6 4 2 213 214 215 216 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 217 73.3% 22.2% December 216 59.2% -15.9% November 216 65.6% 1.7% October 216 69.8% -1.4% September 216 54.1% -16.6% August 216 65.3% -1.4% July 216 66.7% 2.3% June 216 6.8% -17.1% May 216 65.6% 1.9% April 216 54.6% -22.6% March 216 69.5% -2.7% February 216 77.8% -8.7% January 216 6.% -2.6% 1% 8% 6% 4% 2% % 213 214 215 216 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Average Sale Price ly Market Detail - January 217 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. Keep in mind that median price trends over time are not always solely caused by changes in the general value of local real estate. Median sale price only reflects the values of the homes that sold each month, and the mix of the types of homes that sell can change over time. January 217 $155,5 13.5% December 216 $12, -7.7% November 216 $15, 6.% October 216 $116, -17.7% September 216 $148,725 1.8% August 216 $118, -1.1% July 216 $143,5 28.7% June 216 $134,75 7.8% May 216 $139, -5.1% April 216 $15, 1.1% March 216 $145, 7.8% February 216 $141, 22.6% January 216 $137, 2.2% $2K $15K $1K $5K $K 213 214 215 216 Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) Economists' note : Usually, 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 217 $168,836.5% December 216 $132,278-6.1% November 216 $172,519 13.9% October 216 $152,968-5.7% September 216 $155,914 5.1% August 216 $134,591-6.% July 216 $15,886 14.% June 216 $152,587 3.8% May 216 $156,777-8.4% April 216 $158,355 3.6% March 216 $145,373-2.5% February 216 $148,33 15.7% January 216 $167,937 12.% $2K $15K $1K $5K $K 213 214 215 216 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Med. Pct. of Orig. List Price Received Dollar Volume ly Market Detail - January 217 Dollar Volume The sum of the sale prices for all sales which closed during Economists' note : Dollar Volume is simply the sum of all sale prices in a given time period, and can quickly be calculated by multiplying by Average Sale Price. It is a strong indicator of the health of the real estate industry in a market, and is of particular interest to real estate professionals, investors, analysts, and government agencies. Potential home sellers and home buyers, on the other hand, will likely be better served by paying attention to trends in the two components of Dollar Volume (i.e. sales and prices) individually. Dollar Volume January 217 $1.1 Million -13.8% December 216 $9.4 Million -6.1% November 216 $11. Million 17.6% October 216 $9.6 Million -17.5% September 216 $11.5 Million 5.1% August 216 $1.1 Million -4.7% July 216 $9.1 Million 3.6% June 216 $15.6 Million 41.2% May 216 $14.1 Million -8.4% April 216 $17.1 Million -.1% March 216 $13.8 Million -26.5% February 216 $9.3 Million -1.% January 216 $11.8 Million 74.2% $2 M 213 214 215 216 $15 M $1 M $5 M $ Median Percent of Original List Price Received Med. Pct. of Orig. List Price Received The median of the sale price (as a percentage of the original list January 217 94.6% -1.% December 216 94.9% -.3% price) across all properties selling during November 216 94.8% -1.1% October 216 94.4% -1.2% September 216 95.1% 1.1% Economists' note : The Median Percent of Original List Price Received August 216 94.% -.2% is useful as an indicator of market recovery, since it typically rises as July 216 93.8% -.8% buyers realize that the market may be moving away from them and June 216 94.6%.2% 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 has shifted from down to up, so it is what we would call a lagging indicator. May 216 April 216 March 216 February 216 95.2% 94.8% 94.8% 94.6%.7% -.4% -.7% 3.1% January 216 95.6% 2.% 12% 1% 8% 6% 4% 2% % 213 214 215 216 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Median Time to Sale Median Time to Contract ly Market Detail - January 217 Median Time to Contract The median number of days between the listing date and contract date for all during Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. Median Time to Contract January 217 64 Days 68.4% December 216 31 Days -34.% November 216 49 Days 32.4% October 216 47 Days 38.2% September 216 74 Days 8.5% August 216 58 Days 7.4% July 216 62 Days -28.7% June 216 63 Days 4.% May 216 29 Days -42.% April 216 3 Days -11.8% March 216 28 Days -2.% February 216 34 Days -39.3% January 216 38 Days -19.1% 1 8 6 4 2 213 214 215 216 Median Time to Sale The median number of days between the listing date and closing date for all during Economists' note : Time to Sale is a measure of the length of the home selling process, calculated as the number of days between the initial listing of a property and the closing of the sale. Median Time to Sale 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. Median Time to Sale gives a more accurate picture than Average Time to Sale, which can be skewed upward by small numbers of properties taking an abnormally long time to sell. Median Time to Sale January 217 95 Days 14.5% December 216 65 Days -28.6% November 216 9 Days 26.8% October 216 71 Days -2.7% September 216 126 Days 48.2% August 216 96 Days 4.3% July 216 16 Days -13.8% June 216 15 Days 26.5% May 216 84 Days -8.7% April 216 75 Days 5.6% March 216 65 Days -9.7% February 216 84 Days -8.7% January 216 83 Days 5.1% 15 213 214 215 216 1 5 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
New Listings Pending Sales ly Market Detail - January 217 New Pending Sales The number of listed properties that went under contract 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. New Pending Sales January 217 9 3.4% December 216 75 19.% November 216 53-2.9% October 216 68-9.3% September 216 67-9.5% August 216 74-14.9% July 216 64-22.% June 216 76 1.1% May 216 95 3.1% April 216 16 8.2% March 216 11-15.1% February 216 112-6.7% January 216 87-17.1% 15 213 214 215 216 1 5 New Listings The number of properties put onto the market during Economists' note : New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. New Listings January 217 156 5.4% December 216 86-4.4% November 216 116 36.5% October 216 131 29.7% September 216 81 12.5% August 216 73-21.5% July 216 66-17.5% June 216 75 4.2% May 216 9 28.6% April 216 19 21.1% March 216 121-1.6% February 216 156 48.6% January 216 148.7% 2 213 214 215 216 15 1 5 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
s Supply of Inventory Inventory ly Market Detail - January 217 Inventory (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go offmarket (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. Inventory January 217 423 3.2% December 216 367 37.5% November 216 372 51.2% October 216 321 31.% September 216 268 21.8% August 216 268 17.% July 216 291 26.5% June 216 32 19.8% May 216 326 27.3% April 216 354 27.8% March 216 373 24.7% February 216 355 17.5% January 216 325.% 6 5 4 3 2 1 213 214 215 216 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 : MSI is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market. There is no single accepted way of calculating MSI. A common method is to divide current Inventory by the most recent month's count, but this count is a usually poor predictor of future due to seasonal cycles. To eliminate seasonal effects, we use the 12-month average of monthly instead. s Supply January 217 5.5 37.5% December 216 4.7 38.2% November 216 4.8 54.8% October 216 4.1 32.3% September 216 3.4 21.4% August 216 3.4 17.2% July 216 3.7 27.6% June 216 3.8 22.6% May 216 4.3 34.4% April 216 4.6 35.3% March 216 4.8 29.7% February 216 4.5 18.4% January 216 4. -2.4% 8. 6. 4. 2.. 213 214 215 216 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Median Time to Contract ly Market Detail - January 217 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 comparing the percent changes in sales rather than the number of sales. (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. January 216 January 217 25 Sale Price Less than $5, 5-16.7% $5, - $99,999 12-4.% $1, - $149,999 9-3.8% $15, - $199,999 18 2.% $2, - $249,999 4-2.% $25, - $299,999 3 5.% $3, - $399,999 8 6.% $4, - $599,999 1-66.7% $6, - $999,999-1.% $1,, or more N/A 25 2 15 1 5 2 15 1 5 Less than $5, $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more Median Time to Contract by Sale Price The median number of days between the listing date and contract date for all during Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. 3 25 2 15 1 5 Less than $5, January 216 January 217 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 83 Days 591.7% $2, - $249,999 193 Days 338.6% $25, - $299,999 Median Time to Contract Less than $5, 7 Days -9.8% $5, - $99,999 5 Days 127.3% $1, - $149,999 7 Days -93.5% 27 Days 11.9% $3, - $399,999 86 Days -4.4% $4, - $599,999 8 Days -77.1% $6, - $999,999 (No Sales) N/A $1,, or more (No Sales) N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 3 25 2 15 1 5 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
Inventory New Listings ly Market Detail - January 217 New Listings by Initial Listing Price The number of properties put onto the market during Economists' note: New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. 4 35 3 25 2 15 1 5 Less than $5, January 216 January 217 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price New Listings Less than $5, 2-5.% $5, - $99,999 32-15.8% $1, - $149,999 24-7.7% $15, - $199,999 37 2.8% $2, - $249,999 25 38.9% $25, - $299,999 13.% $3, - $399,999 13 85.7% $4, - $599,999 1 66.7% $6, - $999,999 N/A $1,, or more N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 4 35 3 25 2 15 1 5 Inventory by Current Listing Price The number of property listings active at the end of Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go offmarket (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. 1 8 6 4 2 January 216 January 217 Current Listing Price Inventory Less than $5, 3-66.7% $5, - $99,999 83 53.7% $1, - $149,999 62 6.9% $15, - $199,999 88 35.4% $2, - $249,999 67 24.1% $25, - $299,999 37 42.3% $3, - $399,999 54 74.2% $4, - $599,999 28 3.7% $6, - $999,999-1.% $1,, or more 1 N/A 1 8 6 4 2 Less than $5, $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.
ly Distressed Market - January 217 January 217 January 216 Traditional 58 64-9.4% $155,5 $14, 11.1% Foreclosure/REO 2 4-5.% $159,7 $87,75 82.% Short Sale 2-1.% (No Sales) $9,45 N/A 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $4, 213 214 215 216 Traditional Foreclosure/REO Short Sale $35, $3, $25, $2, $15, $1, $5, $ 213 214 215 216 Data released on Wednesday, February 22, 217. Historical data revised on Monday, January 16, 217. Next data release is Wednesday, March 22, 217.