Summary Statistics Q3 218 Q3 217 Paid in Cash 28,894 26,39 9.5% 14,3 13,783 3.8% $182,5 $171,945 6.1% Average Sale Price Dollar Volume $254,582 $239,736 6.2% $7.4 Billion $6.3 Billion 16.3% Median Percent of Original List Price Received 95.3% 95.%.3% Median Time to Contract 46 Days 49 Days -6.1% Median Time to Sale 86 Days 92 Days -6.5% New Pending Sales 3,293 37,82 27,732 9.2% 32,913 14.9% Pending Inventory 14,463 Inventory (Active Listings) 51,42 Months Supply of Inventory 5.3 13,687 5.7% 49,967 2.9% 5.4-1.9% 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 quarter's sales to the amount of sales in the same quarter in the previous year), rather than changes from one quarter to the next. Year-to-Date 9,562 5.7% Q3 218 28,894 9.5% Q2 218 34,623 5.1% Q1 218 27,45 2.5% Q4 217 25,573 4.8% Q3 217 26,39-3.% Q2 217 32,934 3.3% Q1 217 26,394 7.8% Q4 216 24,412-4.9% Q3 216 27,196-4.2% Q2 216 31,883-2.% Q1 216 24,48-6.2% Q4 215 25,677 -.4% Q3 215 28,388 8.1% 4, 3, 2, 1, Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Pct. of Paid in Cash Cash Sales 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 Year-to-Date 47,666 -.1% Q3 218 14,3 3.8% Q2 218 18,113.4% Q1 218 15,253-3.8% Q4 217 13,448-2.% Q3 217 13,783-7.7% Q2 217 18,46-1.3% Q1 217 15,862 3.6% Q4 216 13,726-14.3% Q3 216 14,935-11.7% Q2 216 18,284-1.9% Q1 216 15,311-13.9% Q4 215 16,23-4.6% Q3 215 16,918 -.6% 25, 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 quarter involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc. Percent of Closed Sales Paid in Cash Year-to-Date 52.6% -5.4% Q3 218 49.5% -5.2% Q2 218 52.3% -4.6% Q1 218 56.4% -6.2% Q4 217 52.6% -6.4% Q3 217 52.2% -4.9% Q2 217 54.8% -4.4% Q1 217 6.1% -3.8% Q4 216 56.2% -9.9% Q3 216 54.9% -7.9% Q2 216 57.3% -9.2% Q1 216 62.5% -8.4% Q4 215 62.4% -4.3% Q3 215 59.6% -8.% 8% 6% 4% 2% % Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Average Sale Price 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 quarter, and the mix of the types of homes that sell can change over time. Year-to-Date $185, 8.2% Q3 218 $182,5 6.1% Q2 218 $189,5 8.3% Q1 218 $18, 7.8% Q4 217 $175, 6.7% Q3 217 $171,945 7.5% Q2 217 $175, 7.4% Q1 217 $167, 9.2% Q4 216 $164, 8.5% Q3 216 $16, 6.7% Q2 216 $163, 5.2% Q1 216 $153, 5.5% Q4 215 $151,125 6.4% Q3 215 $15, 8.7% $2K $15K $1K $5K $K 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 Year-to-Date $268,476 8.% Q3 218 $254,582 6.2% Q2 218 $279,369 8.9% Q1 218 $269,374 8.7% Q4 217 $247,67 6.3% Q3 217 $239,736 7.6% Q2 217 $256,551 4.2% Q1 217 $247,816 8.1% Q4 216 $232,532 3.2% Q3 216 $222,78.2% Q2 216 $246,268 1.4% Q1 216 $229,271 -.6% Q4 215 $225,236 2.% Q3 215 $222,294 3.8% $3K $25K $2K $15K $1K $5K $K Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Med. Pct. of Orig. List Price Received Dollar Volume 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 Year-to-Date $24.3 Billion 14.1% Q3 218 $7.4 Billion 16.3% Q2 218 $9.7 Billion 14.5% Q1 218 $7.3 Billion 11.4% Q4 217 $6.3 Billion 11.3% Q3 217 $6.3 Billion 4.5% Q2 217 $8.4 Billion 7.6% Q1 217 $6.5 Billion 16.5% Q4 216 $5.7 Billion -1.8% Q3 216 $6.1 Billion -4.% Q2 216 $7.9 Billion -.6% Q1 216 $5.6 Billion -6.7% Q4 215 $5.8 Billion 1.5% Q3 215 $6.3 Billion 12.1% $12 B $1 B $8 B $6 B $4 B $2 B $ Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during Economists' note : The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically 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 has shifted from down to up, so it is what we would call a lagging indicator. Med. Pct. of Orig. List Price Received Year-to-Date 95.2%.4% Q3 218 95.3%.3% Q2 218 95.1%.4% Q1 218 95.1%.4% Q4 217 95.1%.4% Q3 217 95.%.3% Q2 217 94.7%.1% Q1 217 94.7%.3% Q4 216 94.7%.2% Q3 216 94.7%.4% Q2 216 94.6%.6% Q1 216 94.4%.6% Q4 215 94.5%.7% Q3 215 94.3%.5% 12% 1% 8% 6% 4% 2% % Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Median Time to Sale Median Time to Contract 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 Year-to-Date 46 Days -9.8% Q3 218 46 Days -6.1% Q2 218 44 Days -12.% Q1 218 48 Days -12.7% Q4 217 5 Days -3.8% Q3 217 49 Days -7.5% Q2 217 5 Days.% Q1 217 55 Days 3.8% Q4 216 52 Days -5.5% Q3 216 53 Days -8.6% Q2 216 5 Days -12.3% Q1 216 53 Days -15.9% Q4 215 55 Days -12.7% Q3 215 58 Days -7.9% 7 6 5 4 3 2 1 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 Year-to-Date 86 Days -6.5% Q3 218 86 Days -6.5% Q2 218 84 Days -7.7% Q1 218 88 Days -7.4% Q4 217 9 Days -6.3% Q3 217 92 Days -6.1% Q2 217 91 Days -3.2% Q1 217 95 Days -1.% Q4 216 96 Days -1.% Q3 216 98 Days -3.9% Q2 216 94 Days -5.1% Q1 216 96 Days -7.7% Q4 215 97 Days -5.8% Q3 215 12 Days -4.7% 12 1 8 6 4 2 Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Pending Sales 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 Year-to-Date 12,93 4.8% Q3 218 3,293 9.2% Q2 218 35,865 4.5% Q1 218 35,935 1.7% Q4 217 27,677 8.8% Q3 217 27,732-6.4% Q2 217 34,317 2.7% Q1 217 35,323 5.% Q4 216 25,436-7.3% Q3 216 29,614-5.9% Q2 216 33,415-5.8% Q1 216 33,65-1.4% Q4 215 27,435-4.1% Q3 215 31,469.5% 4, 3, 2, 1, The number of properties put onto the market during Economists' note : 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. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings. Year-to-Date 126,933 6.8% Q3 218 37,82 14.9% Q2 218 41,486 3.7% Q1 218 47,645 3.7% Q4 217 37,227 6.9% Q3 217 32,913-7.5% Q2 217 4,22 1.% Q1 217 45,938-3.3% Q4 216 34,836-3.2% Q3 216 35,566.5% Q2 216 39,645 2.9% Q1 216 47,521 6.6% Q4 215 35,988 1.3% Q3 215 35,387-1.5% 6, 5, 4, 3, 2, 1, Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Months Supply of Inventory Inventory 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 quarter the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going offmarket. Inventory YTD (Monthly Avg) 53,526-1.8% Q3 218 51,42 2.9% Q2 218 51,967-3.3% Q1 218 56,84-2.% Q4 217 51,738-4.% Q3 217 49,967-3.8% Q2 217 53,754 -.5% Q1 217 57,229 -.1% Q4 216 53,884 7.9% Q3 216 51,934 9.4% Q2 216 54,44 8.1% Q1 216 57,284 6.8% Q4 215 49,936-3.1% Q3 215 47,459-5.7% 7, 6, 5, 4, 3, 2, 1, Months 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. Months Supply YTD (Monthly Avg) 5.6-5.1% Q3 218 5.3-1.9% Q2 218 5.5-5.2% Q1 218 6. -3.2% Q4 217 5.6-6.7% Q3 217 5.4-5.3% Q2 217 5.8-1.7% Q1 217 6.2.% Q4 216 6. 13.2% Q3 216 5.7 14.% Q2 216 5.9 9.3% Q1 216 6.2 5.1% Q4 215 5.3-8.6% Q3 215 5. -12.3% 7. 6. 5. 4. 3. 2. 1.. Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Median Time to Contract 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 quarter's sales to the amount of sales in the same quarter in the previous year), rather than changes from one quarter to the next. 7, 6, 5, 4, 3, 2, 1, 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. 18 16 14 12 1 8 6 4 2 Less than $5, Less than $5, Q3 217 Q3 218 $5, - $99,999 $5, - $99,999 $1, - $149,999 $1, - $149,999 $15, - $199,999 Q3 217 Q3 218 $15, - $199,999 $2, - $249,999 $2, - $249,999 $25, - $299,999 Median Time to Contract by Sale Price The median number of days between the listing date and contract date for all during $25, - $299,999 Sale Price Less than $5, 672-23.% $5, - $99,999 3,855-9.3% $1, - $149,999 5,886 3.9% $15, - $199,999 5,651 15.4% $2, - $249,999 4,72 21.8% $25, - $299,999 2,77 17.7% $3, - $399,999 2,774 25.4% $4, - $599,999 1,712 12.% $6, - $999,999 96 19.3% $1,, or more 65 16.8% $3, - $399,999 Sale Price $5, - $99,999 37 Days -5.1% $1, - $149,999 Median Time to Contract Less than $5, 48 Days -5.9% 33 Days -8.3% $15, - $199,999 38 Days -9.5% $2, - $249,999 43 Days -14.% $25, - $299,999 56 Days -5.1% $3, - $399,999 63 Days -14.9% $4, - $599,999 81 Days -17.3% $6, - $999,999 12 Days -2.4% $1,, or more 133 Days -19.9% $3, - $399,999 $4, - $599,999 $4, - $599,999 $6, - $999,999 $6, - $999,999 $1,, or more $1,, or more 7, 6, 5, 4, 3, 2, 1, 18 16 14 12 1 8 6 4 2 Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
Inventory by Initial Listing Price The number of properties put onto the market during Economists' note: 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. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings. 8, 7, 6, 5, 4, 3, 2, 1, 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 quarter the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going offmarket. 8, 7, 6, 5, 4, 3, 2, 1, Less than $5, Less than $5, Q3 217 Q3 218 $5, - $99,999 $5, - $99,999 $1, - $149,999 $1, - $149,999 $15, - $199,999 Q3 217 Q3 218 $15, - $199,999 $2, - $249,999 Inventory by Current Listing Price The number of property listings active at the end of $2, - $249,999 $25, - $299,999 $25, - $299,999 Initial Listing Price Less than $5, 544-29.3% $5, - $99,999 4,236-5.5% $1, - $149,999 6,476 8.5% $15, - $199,999 6,86 18.9% $2, - $249,999 5,122 25.1% $25, - $299,999 3,924 23.2% $3, - $399,999 4,213 25.8% $4, - $599,999 3,57 19.3% $6, - $999,999 1,916 21.7% $1,, or more 1,454 25.9% $3, - $399,999 Current Listing Price Inventory Less than $5, 579-31.2% $5, - $99,999 3,774-15.9% $1, - $149,999 5,472-1.5% $15, - $199,999 6,511 6.6% $2, - $249,999 5,741 7.5% $25, - $299,999 5,153 4.7% $3, - $399,999 7,147 7.7% $4, - $599,999 6,934 6.3% $6, - $999,999 5,165 6.9% $1,, or more 4,944 4.9% $3, - $399,999 $4, - $599,999 $4, - $599,999 $6, - $999,999 $6, - $999,999 $1,, or more $1,, or more 8, 7, 6, 5, 4, 3, 2, 1, 8, 7, 6, 5, 4, 3, 2, 1, Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.
ly Distressed Market - Q3 218 Q3 218 Q3 217 Traditional 27,999 25,253 1.9% $185, $175, 5.7% Foreclosure/REO 732 97-19.3% $135, $118,384 14.% Short Sale 163 23-29.1% $141, $125,22 12.6% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $2, $18, $16, $14, $12, $1, $8, $6, $4, $2, $ Traditional Foreclosure/REO Short Sale Produced by Realtors with data provided by 's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, November 1, 218. Historical data revised on Thursdsay, February 21, 219. Next data release is Tuesday, February 12, 219.