Summary Statistics March 215 March 214 Paid in Cash 135 95 42.1% 63 44 43.2% New Pending Sales 138 112 23.2% 161 139 15.8% $175,7 $18, -2.4% Average Sale Price $228,26 $268,711-15.1% Median Days on Market 13 122-15.6% Average Percent of Original List Price Received 9.3% 9.2%.1% Pending (Active Listings) 191 66 188 1.6% 715-7.7% s Supply of 6.9 8.5-18.2% 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. March 215 135 42.1% February 215 79 17.9% January 215 69-4.2% December 214 114 83.9% November 214 October 214 September 214 August 214 July 214 68 94 91 83 17 21.4% 23.7% -7.1% -6.7% 25.9% June 214 14 16.9% May 214 April 214 115 81.9% -24.3% March 214 95 14.5% Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
Pct. of Closed Sales 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 March 215 63 43.2% February 215 36.% January 215 32-3.% December 214 85.2% November 214 25-7.4% October 214 4 5.3% September 214 39-23.5% August 214 29-42.% July 214 52 23.8% June 214 41 5.1% May 214 61 1.7% April 214 4-29.8% March 214 44-2.2% 8 6 4 2 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 March 215 46.7%.8% February 215 45.6% -15.2% January 215 46.4% 1.2% December 214 43.9%.7% November 214 36.8% -23.7% October 214 42.6% -14.9% September 214 42.9% -17.6% August 214 34.9% -37.8% July 214 48.6% -1.6% June 214 39.4% -1.% May 214 53.%.8% April 214 49.4% -7.3% March 214 46.3% -14.6% 81% 71% 61% 51% 41% 31% 21% Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
Pending Sales 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. March 215 February 215 January 215 December 214 65 November 214 11 October 214 September 214 August 214 July 214 June 214 May 214 April 214 March 214 New Pending Sales 138 123 14 91 95 15 13 16 116 15 112 23.2% 41.4% 13.% -25.3% 4.1% -2.2% -34.5% -36.7% -34.8% -31.6% -41.1% -44.7% -36.% 2 2 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. March 215 February 215 January 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 May 214 April 214 March 214 161 171 157 13 12 158 129 136 144 128 163 153 139 15.8% 15.5% -2.7% 3.% 14.3% 2.6% -9.8% 16.2% 12.5% -7.2% 15.6% 16.8% -3.5% 2 2 Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
Average Sale Price The median sale price reported for (i.e. % of sales were above and % 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. March 215 $175,7-2.4% February 215 $173, 5.2% January 215 $173, 9.1% December 214 $181, 7.7% November 214 $18, 14.6% October 214 $162, -4.1% September 214 $155, 2.% August 214 $179, 23.4% July 214 $183, 28.% June 214 $163, -9.4% May 214 $22, 8.9% April 214 $172,2 14.8% March 214 $18, 2.% $22K $2K $18K $16K $14K $12K $K 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 March 215 $228,26-15.1% February 215 $219,938 11.4% January 215 $263,683 19.5% December 214 $228,45 4.1% November 214 $281,8 18.1% October 214 $217,866-17.4% September 214 $23, 2.7% August 214 $246,864 13.6% July 214 $23,228 12.4% June 214 $191,649-16.5% May 214 $262,434 5.8% April 214 $233,176 17.7% March 214 $268,711 29.4% $33K $28K $23K $18K $13K Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
Avg. Pct. of Orig. List Price Received Median Days on Market 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, % of homes selling this month took less time to sell, and % 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 March 215 13-15.6% February 215 17 15.1% January 215 133 31.7% December 214 11-1.6% November 214 12-21.1% October 214 94-3.1% September 214 19 5.8% August 214 124-6.8% July 214 18 31.7% June 214 96-14.3% May 214 99-19.5% April 214 11-26.7% March 214 122 -.8% 2 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 March 215 9.3%.1% February 215 91.% -2.% January 215 88.5% -.6% December 214 9.5%.4% November 214 88.% -4.5% October 214 9.2% -2.4% September 214 9.1% -.8% August 214 91.4% 2.1% July 214 9.7% 1.7% June 214 91.% -.5% May 214 91.4% 1.7% April 214 89.9% 2.5% March 214 9.2% 2.7% 95% 9% 85% 8% 75% Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
s Supply of (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate 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. March 215 66-7.7% February 215 691-7.9% January 215 71-4.% December 214 681 3.7% November 214 682-8.% October 214 77 3.2% September 214 675 8.7% August 214 711 14.5% July 214 72 13.6% June 214 722 12.6% May 214 746 16.4% April 214 723 8.9% March 214 715 5.% 1,3 1, 9 7 s Supply of An estimate of the number of months it will take to deplete the current 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. Higher numbers indicate a buyers' market, lower numbers a sellers' market. s Supply March 215 6.9-18.2% February 215 7.5-16.4% January 215 7.7-11.8% December 214 7.5-5.6% November 214 7.9-1.5% October 214 8.3 3.6% September 214 8. 1.% August 214 8.4 11.8% July 214 8.5 9.5% June 214 8.7 1.5% May 214 9.1 14.6% April 214 8.8 5.5% March 214 8.5-4.5% 2. 15. 1. 5. Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
Median Days on Market 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. 3 25 2 15 1 5 Less than $, March 214 March 215 $, - $99,999 $, - $149,999 $, - $199,999 $2, - $249,999 $2, - $299,999 Sale Price Less than $, 3-25.% $, - $99,999 24.% $, - $149,999 25 19.% $, - $199,999 26 62.5% $2, - $249,999 13 3.% $2, - $299,999 17 142.9% $3, - $399,999 13 85.7% $4, - $599,999 11 37.5% $6, - $999,999 1-87.5% $1,, or more 2.% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 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, % of homes selling this month took less time to sell, and % 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. 3 2 2 Less than $, March 214 March 215 $, - $99,999 $, - $149,999 $, - $199,999 $2, - $249,999 $2, - $299,999 Sale Price $, - $99,999 64-23.8% $, - $149,999 Median Days on Market Less than $, 182-3.7% 77-36.9% $, - $199,999 15.4% $2, - $249,999 12-24.1% $2, - $299,999 11 1.9% $3, - $399,999 84-38.7% $4, - $599,999 64-55.6% $6, - $999,999 258 148.1% $1,, or more 188 3.3% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 3 2 2 Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
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. 35 3 25 2 15 1 5 Less than $, March 214 March 215 $, - $99,999 $, - $149,999 $, - $199,999 $2, - $249,999 $2, - $299,999 Initial Listing Price Less than $, 3.% $, - $99,999 8-38.5% $, - $149,999 3 2.% $, - $199,999 28 12.% $2, - $249,999 26 136.4% $2, - $299,999 17 41.7% $3, - $399,999 27 28.6% $4, - $599,999 11-31.3% $6, - $999,999 6-4.% $1,, or more 5 66.7% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 35 3 25 2 15 1 5 by Current Listing Price The number of property listings active at the end of Economists' note: There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate 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 8 6 4 2 Less than $, March 214 March 215 $, - $99,999 $, - $149,999 $, - $199,999 $2, - $249,999 $2, - $299,999 Current Listing Price Less than $, 7.% $, - $99,999 44-27.9% $, - $149,999 91-2.9% $, - $199,999 9-1.% $2, - $249,999 79 6.8% $2, - $299,999 8 29.% $3, - $399,999 7.5% $4, - $599,999 67-26.4% $6, - $999,999 54.% $1,, or more 48-17.2% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 14 12 8 6 4 2 Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.
ly Distressed Market - March 215 March 215 March 214 Traditional 122 86 41.9% $187, $186,.8% Foreclosure/REO 9 5 8.% $83,6 $99, -15.5% Short Sale 4 4.% $159,4 $28, -23.4% % 9% 8% 7% 6% % 4% 3% 2% 1% % $1,4, Traditional Foreclosure/REO Short Sale $1,2, $1,, $8, $6, $4, $2, $ Data released on Wednesday, April 22, 215. Next data release is Thursday, May 21, 215.