REL ESTTE RKET REPORT GRDEN GROVE C Su Tu W 5 7 8 3 4 5 9 7 8 9 Th F Sa Sunday, ugust 5 3 4 8 9 7 8 3 4 5 3 3 TBLE OF CONTENTS Charts and Commentary.. Pages - arket Summary Table.. Page 3 Glossary... Page 4 Chinh ichael Tran TRNS REL ESTTE GROUP 4 Euclid, suite Garden Grove, C 984 www.transregroup.com michael@transregroup.com https://www.facebook.com/transrealestategroup www.linkedin.com/in/michaelctran www.twitter.com/michaelctran www.youtube.com/michaelctran Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT GRDEN GROVE C Sunday, ugust 5, 8 Let's take a look at the real estate market. Currently there are 79 sales pending in the market overall, leaving 87 listings still for sale. The resulting pending ratio is 47.% (79 divided by ). 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 active." Chinh ichael Tran TRNS REL ESTTE GROUP Taking a closer look, we notice that the K - 8K price range has a relatively large number of contracts pending sale. We also notice that the K - 8K price range has a relatively large inventory of properties for sale at 5 listings. The median list price (or asking price) for all properties in this market is 85,. 7 5 4 3 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Garden Grove C Updated 8/5/8, RealarketReports.com Copyright Chinh ichael Tran K K 4K K 8K...4..8...4..8 3 5 Sold Off-arket Sold vs. Off-arket (Last mos.) Garden Grove C Updated 8/5/8, RealarketReports.com Copyright Chinh ichael Tran total of 37 contracts have closed in the last months with a median sold price of 4,. Breaking it down, we notice that the K - 8K price range contains the highest number of sold listings. 5 5 K K 4K K 8K...4..8...4..8 lternatively, a total of 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 K - 8K price range has the highest number of off-market listings at 58 properties. Real arket Reports www.realarketreports.com arket Dashboard
REL ESTTE RKET REPORT GRDEN GROVE C Sunday, ugust 5, 8 Chinh ichael Tran TRNS REL ESTTE GROUP 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 5 days. nalysis of sold properties for the last six months reveals a median sold price of 4, and days on market. Notice that properties in the. -.4 price range have sold quickest over the last six months. 4 8 4 K K Sold For Sale 4K K 8K. edian Days on arket (DO)..4 Garden Grove C Updated 8/5/8, RealarketReports.com Copyright Chinh ichael Tran..8...4..8 The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 5, with a DO of 3 days. Since the recent DO is greater than the median DO for the last 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.3%." 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.4 months based on the last 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. 7K K 5K 4K 3K K K K 59K 58K edian Sold s Garden Grove C Copyright Chinh ichael Tran Updated 8/5/8, RealarketReports.com ar pr ay Jun Jul ug 4 8 4 edian Days on arket (Sold) Garden Grove C Copyright Chinh ichael Tran Updated 8/5/8, RealarketReports.com ar pr ay Jun Jul ug Real arket Reports www.realarketreports.com arket Dashboard
REL ESTTE RKET REPORT GRDEN GROVE C Sunday, ugust 5, 8 Chinh ichael Tran TRNS REL ESTTE GROUP RKET SURY TBLE 79 PENDING [] = verage Value = edian Value N/ = Not vailable Low Range High 87 CTIVE [] Days on arket Current Pend Ratio OFF-RKET (last mos) [3] BSORPTION RTE (months of inventory) 37 SOLD/CLOSED (last months) [4] Days on arket Original Final Sold/ Closed - Sale Ratio Est. os. 99,999, 399,999 4, 599,999, 799,999 5 8, 999,999 8,,,99,999,,,399,999 3 554,554 8 557,5 3 5 7 9,49 85, 899,88 4 939, 8% 47 4% 58 5 38% 4 5 4 8 37,5 374,75 373,375,389, 35,,,389,,389,,355, 98% 85,85 85,75 %,5, 5,,87,54,5,8,833 % 5%,5,,5,,5,,8, % 35,, 3 34 75, 7,5 8 848,4 55,5 5, 79,7 73,74 74,77 833,75,389, % 377, 377, 39,5 98% 54,35 55,5 548,8 548,44 % % % 7, % 799,499 847,5 %,355, 98% N/.7.,4,,599,999,,,799,999,8,,999,999,,,99,999,,,399,999,4,,599,999,,,799,999,8, + arket Totals 87 79 48% arket verages 3 7,795 Date Range (Off-arket & Sold) = /4/8 to 8/5/8 Data believed to be accurate but not guaranteed. 37 49,437 45,87 arket edians 5 85, 48, 39,9 Status = [] ctive; [] ctive Under Contract, Pending; [3] Expired, Canceled, Withdrawn; [4] Closed City = Garden Grove PropertySubType = Single Family Residence Favors Sellers 47,49 % 4, % Favors Buyers.4 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT GRDEN GROVE C Sunday, ugust 5, 8 Chinh ichael Tran TRNS REL ESTTE GROUP. 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.. CONTRCTS PENDING a. ber Pending: The number of current listings for which a contract has been signed but has not yet closed. 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 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 months. b. Days on arket (DO): The marketing time it has taken properties to sell in the last 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