ly Market Detail - January 216 Summary Statistics January 216 January 215 Paid in Cash 71 89-2.2% 41 62-33.9% New Pending Sales 13 15-13.3% 25 182 12.6% $16, $115, 39.1% Average Sale Price $189,665 $138,67 36.8% Median Days on Market 4 56-28.6% Average Percent of Original List Price Received 92.2% 91.2% 1.1% Pending Inventory Inventory (Active Listings) 167 468 195-14.4% 514-8.9% s Supply of Inventory 4.4 4.7-6.4% 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 71-2.2% December 215 111 1.8% November 215 74 October 215 1 September 215 95 August 215 89 July 215 89 June 215 132 May 215 123 April 215 134 March 215 14 February 215 19 January 215 89-18.7% -5.7% -13.6% -14.4% -11.% 36.1% -4.7% -9.5% 21.7% 4.8% 23.6% 2 15 1 5 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 41-33.9% December 215 67-1.7% November 215 54.% October 215 61-12.9% September 215 51-2.3% August 215 51-32.% July 215 56-18.8% June 215 87 31.8% May 215 88-4.3% April 215 91-7.1% March 215 15 22.1% February 215 73-5.2% January 215 62 19.2% 15 1 5 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 57.7% -17.1% December 215 6.4% -12.3% November 215 73.% 23.% October 215 61.% -7.6% September 215 53.7% -7.7% August 215 57.3% -2.5% July 215 62.9% -8.8% June 215 65.9% -3.1% May 215 71.5%.3% April 215 67.9% 2.6% March 215 75.%.3% February 215 67.% -9.5% January 215 69.7% -3.5% 93% 83% 73% 63% 53% 43% 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 13 7 99 96 1 14 18 94 115 126 16 15 15-13.3% -23.9% -5.7% -24.4% -17.4% -17.5% -1.% -9.6% 11.7% -19.2% -15.3% 8.7% 19.% 25 2 15 1 5 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 25 97 144 138 121 95 117 19 126 15 164 163 182 12.6% -25.4% 13.4% -2.1% -14.2% -25.2% -15.2% -17.4% -17.6% -6.8% -8.9% -3.6% -6.7% 25 2 15 1 5 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 $16, 39.1% December 215 $136, 27.1% November 215 $137, 18.4% October 215 $129,95 4.% September 215 $135, 13.7% August 215 $149,9 33.2% July 215 $128, 29.9% June 215 $132,238 14.5% May 215 $138, 38.% April 215 $117,75-1.1% March 215 $124,5 13.2% February 215 $13, 15.6% January 215 $115, 7.5% $18K $16K $14K $12K $1K $8K $6K 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 $189,665 36.8% December 215 $147,316 9.2% November 215 $23,755 38.2% October 215 $158,265-2.2% September 215 $168,295 1.2% August 215 $164,88 22.% July 215 $151,581 33.5% June 215 $173,968 15.8% May 215 $168,23 42.2% April 215 $143,619-5.% March 215 $151,696 7.8% February 215 $168,95 5.3% January 215 $138,67-2.2% $21K $19K $17K $15K $13K $11K $9K 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 4-28.6% December 215 4-11.1% November 215 32-59.% October 215 35-53.9% September 215 49 11.4% August 215 41-33.9% July 215 38-32.1% June 215 49-32.9% May 215 43-4.3% April 215 44-22.8% March 215 38-26.9% February 215 57-32.9% January 215 56 3.7% 12 1 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 92.2% 1.1% December 215 93.6% -.4% November 215 95.% 2.2% October 215 95.2% 4.3% September 215 9.9% -2.8% August 215 91.% -1.2% July 215 94.% 4.% June 215 92.7% 3.% May 215 91.6% 1.7% April 215 91.9% 1.1% March 215 92.5% -.4% February 215 92.% 3.8% January 215 91.2% 1.7% 1% 95% 9% 85% 8% 75% 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 216 468-8.9% December 215 411-19.3% November 215 398-18.8% October 215 373-23.4% September 215 342-33.5% August 215 337-34.6% July 215 374-3.% June 215 42-28.% May 215 424-25.% April 215 455-21.4% March 215 461-25.6% February 215 58-22.1% January 215 514-2.9% 1, 8 6 4 2 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 4.4-6.4% December 215 3.8-19.3% November 215 3.7-2.3% October 215 3.4-26.5% September 215 3.1-37.1% August 215 3.1-39.9% July 215 3.4-36.9% June 215 3.6-35.7% May 215 3.9-31.8% April 215 4.1-28.9% March 215 4.2-32.3% February 215 4.7-25.4% January 215 4.7-24.1% 12. 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. 35 3 25 2 15 1 5 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 5-37.5% $5, - $99,999 12-58.6% $1, - $149,999 12-52.% $15, - $199,999 17 7.% $2, - $249,999 13 62.5% $25, - $299,999 5 66.7% $3, - $399,999 3-4.% $4, - $599,999 1 N/A $6, - $999,999 3 2.% $1,, or more N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 35 3 25 2 15 1 5 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. 7 6 5 4 3 2 1 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 33-64.1% $2, - $249,999 81-29.6% $25, - $299,999 Median Days on Market Less than $5, 51-32.% $5, - $99,999 19-72.9% $1, - $149,999 31-6.1% 57 72.7% $3, - $399,999 14-88.6% $4, - $599,999 584 N/A $6, - $999,999 1 14.9% $1,, or more (No Sales) N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 7 6 5 4 3 2 1 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. 6 5 4 3 2 1 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 4-55.6% $5, - $99,999 41-12.8% $1, - $149,999 54 5.9% $15, - $199,999 32 39.1% $2, - $249,999 24.% $25, - $299,999 17 54.5% $3, - $399,999 1-23.1% $4, - $599,999 1 4.% $6, - $999,999 8 3.% $1,, or more 5 N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 6 5 4 3 2 1 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. 14 12 1 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 12-33.3% $5, - $99,999 71-25.3% $1, - $149,999 113-7.4% $15, - $199,999 84 2.4% $2, - $249,999 6-14.3% $25, - $299,999 36-25.% $3, - $399,999 26-23.5% $4, - $599,999 29 45.% $6, - $999,999 27 68.8% $1,, or more 1 11.1% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 14 12 1 8 6 4 2 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 65 76-14.5% $16, $124, 29.% Foreclosure/REO 5 11-54.5% $89,9 $75, 19.9% Short Sale 1 2-5.% $24, $88,75 17.4% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $35, Traditional Foreclosure/REO Short Sale $3, $25, $2, $15, $1, $5, $ Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.