Su Tu W Th F Sa 1 2 Sunday, arch 3 3 4 5 7 8 9 1 11 12 13 14 15 1 17 18 19 21 22 23 24 25 2 27 28 29 3 19 31 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page 3 Glossary... Page 4 951 E. Bogard Rd, STE 1 Wasilla, K 9954 KHomeValuation.com wilfredfernandez.com https://www.facebook.com/wilfredfernandeziii/?time https://www.linkedin.com/in/wilfred-fernandez-b @EBCRealEstateK
Let's take a look at the real estate market. Currently there are 288 sales pending in the market overall, leaving 4 listings still for sale. The resulting pending ratio is 38.5% (288 divided by 748). 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." Taking a closer look, we notice that the K - 25K price range has a relatively large number of contracts pending sale. We also notice that the 25K - 3K price range has a relatively large inventory of properties for sale at 78 listings. The median list price (or asking price) for all properties in this market is 299,. 9 7 5 3 1 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Updated 3/3/19, RealarketReports.com Copyright K 5K 1K 15K K 25K 3K 35K K 45K 5K 55K K 5K 7K 1 1 1 1 1 K Sold Off-arket 5K 1K 15K K Sold vs. Off-arket (Last mos.) 25K 3K 35K Updated 3/3/19, RealarketReports.com Copyright K 45K 5K 55K K 5K 7K total of 812 contracts have closed in the last months with a median sold price of 257,45. Breaking it down, we notice that the K - 25K price range contains the highest number of sold listings. lternatively, a total of 552 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 - 25K price range has the highest number of off-market listings at 1 properties. 1 arket Dashboard
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 55 days. 1 1 Sold For Sale edian Days on arket (DO) Updated 3/3/19, RealarketReports.com Copyright nalysis of sold properties for the last six months reveals a median sold price of 257,45 and 38 days on market. Notice that properties in the 55K - K price range have sold quickest over the last six months. K 5K 1K 15K K 25K 3K 35K K 45K 5K 55K K 5K 7K The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 259,9 with a DO of 42 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 99.1%." 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 3.4 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. 275K 27K 25K 2K 255K 25K 245K 2K 235K 23K edian Sold s Copyright Updated 3/3/19, RealarketReports.com Oct Nov Dec Jan Feb ar 5 3 1 edian Days on arket (Sold) Copyright Updated 3/3/19, RealarketReports.com Oct Nov Dec Jan Feb ar 2 arket Dashboard
RKET SURY TBLE 288 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 8 5, 99,999 28 1, 149,999 15, 199,999 52, 249,999 51 25, 299,999 78 3, 349,999 3 35, 399,999 53, 449,999 3 45, 499,999 21 5, 549,999 15 55, 599,999 13, 49,999 5 5, 99,999 7, + 11 4 CTIVE [1] arket verages 87 322,15 Date Range (Off-arket & Sold) = 9/2/18 to 3/3/19 Data believed to be accurate but not guaranteed. Status = [1] ctive; [2] Pending; [3] Expired, Withdrawn, Cancelled; [4] Closed Property Type = Borough/Census rea = 1D - atanuska Susitna Borough Days on arket arket Totals 4 288 39% 122 92 14 79,4 14 33% 28 84 79,95 33 147 84 1 85 72 279,192 59 282,9 275,44 272,9 54 41% 88 175 279,9 38 279,9 275, 271, 7 373,857 79 385,44 374,479 371,79 29 35% 9 78 44 372, 5 3, 375, 39,95 7 57 419,9 34 425, 419, 419, 1% 82 42 474,9 32 479, 479, 475, 93 525, 81 544,999 539,43 53, 98% 71 54 589,95 1 59,27 59, 587,5 1% 8 1 35, 28 45, 45,, 142 42 74,95 15, 57,5 58,5 1% 123 83 1,9,53 Current 35,15 3,475 127,725 91 125, 178,924 1, 22,598 39 229,9 95 328,157 59 329, 422,928 475,79 522,954 584,9 35,9 72,97 925, 35 % 1 57 53% 3 15 29% 3 9 3% 21 5 25% 11 32% 8 3 38% 2 25% 1 3 21% 21 552 812 arket edians 55 299, 38 25, 259,9 Pend Ratio 4 33% 1 44% 3 3% 552 OFF-RKET (last mos) [3] BSORPTION RTE (months of inventory) 12 9 1 5 38 122 1 11 37 15 11 5 2 5 812 SOLD/CLOSED (last months) [4] Days on arket 9 429,455 423,99 85 491,37 4,74 45 533,399 53,9 17 1,42 587,859 3,91 59,18 15, 57,5 155 Original 115,7 87 37, 14,92 9 145, 917,7 99,3 18 875, Final 281,315 274,595 Sold/ Closed 134,829 13,272 97% 181,5 98% 324,384 - Sale Ratio 37,37 33,1 89% 37, 37, 85,84 81,12 74,824 92% 1 85,,95 78, 9% 137, 132,75 97% 57 189,988 182,981 178,998 98% 28 59 189,7 184,9 34 234,9 234,33 33,874 228,293 224,772 98% 229,9 225, 98% 325,953 37 329, 325, Favors Sellers 1% 324, 1% 419,953 478,1 527,231 98% 584,415 38,988 97% 58,5 1% 87, 9% 849,9 81, 95% 271,27 257,45 Favors Buyers Est. os. 5.3 3.2 2. 1.7 2.7 3.7 4.1 5.8 8.4 8.2 13 18 13.2 3.4 3 arket Summary Table
1. 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. 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 1 properties sell per month and there are properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market. 4 Glossary