Summary Statistics January 215 January 214 Paid in Cash 299 251 19.1% 172 -.% New Pending Sales 368 8.7% 648 553 17.2% $157, $133, 18.4% Average Sale Price $186,41 $169,864 9.5% Median Days on Market 42 63-33.3% Average Percent of Original List Price Received 93.5% 9.5% 3.3% Pending (Active Listings) 493 1,657 462 6.7% 1,851-1.5% s Supply of 4.8 6.2-22.6% 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 215 299 19.1% December 214 361 11.8% November 214 289 October 214 373 September 214 374 August 214 326 July 214 332 June 214 361 May 214 375 April 214 414 March 214 332 February 214 294 January 214 251 22.5% 23.9% 35.% 12.4% 4.4% 11.1% 7.1% 27.4% 6.4% 11.8% 1.6%
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 January 215 -.% December 214 195 7.7% November 214 141-1.4% October 214 192 6.7% September 214 187 28.1% August 214 172 17.% July 214 159-8.6% June 214 24 14.6% May 214 215 8.% April 214 241 22.3% March 214 212 19.1% February 214 176-2.8% January 214 172 8.9% 2 1 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 215.% -.% December 214 54.% -3.6% November 214 48.8% -19.5% October 214 51.5% -13.9% September 214.% -5.1% August 214 52.8% 4.1% July 214 47.9% -12.5% June 214 56.5% 3.2% May 214 57.3%.8% April 214 58.2% -4.% March 214 63.9% 11.9% February 214 59.9% -13.% January 214 68.5% 7.1% 8% 6% 4% 2% %
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. January 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 May 214 April 214 March 214 February 214 January 214 New Pending Sales 34 39 353 358 335 343 31 395 393 436 344 368 8.7% 13.9% 8.4% 18.1% 31.6% 11.3% 7.9% 3.1% 7.% 1.7% 2.1% 12.8%.8% 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 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 May 214 April 214 March 214 February 214 January 214 648 49 451 9 452 423 433 373 393 433 477 496 553 17.2% -6.% 2.% -1.7% 18.6% -3.9% 1.6% -7.4% 5.4% 2.6% 14.1% 9.7% 12.2% 7 6
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. January 215 $157, 18.4% December 214 $145, 3.6% November 214 $136, 13.1% October 214 $14, 12.% September 214 $135,9-1.5% August 214 $145, 9.6% July 214 $141, 6.4% June 214 $137, 9.1% May 214 $137, 3.2% April 214 $13, -3.7% March 214 $13,.1% February 214 $132,9 14.6% January 214 $133, 15.7% $17K $1K $13K $11K $9K $7K 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 215 $186,41 9.5% December 214 $175,82-2.6% November 214 $159,731 4.8% October 214 $169,11 17.5% September 214 $159,388-3.3% August 214 $165,325 7.6% July 214 $171,434-1.6% June 214 $164,73 4.7% May 214 $174,7 5.6% April 214 $164,146 1.1% March 214 $152,711-3.1% February 214 $155,634 4.7% January 214 $169,864 26.6% $21K $19K $17K $1K $13K $11K $9K
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 January 215 42-33.3% December 214 42-31.1% November 214 47 4.4% October 214 45-19.6% September 214 45-22.4% August 214 69 3.2% July 214 9 6.7% June 214 74 34.5% May 214 67 28.8% April 214 66 26.9% March 214 58-4.9% February 214 66 43.5% January 214 63 57.5% 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 215 93.5% 3.3% December 214 93.4% 2.2% November 214 93.% 2.8% October 214 92.6% 1.8% September 214 93.% 1.5% August 214 91.9% -.5% July 214 91.5% -.4% June 214 9.3% -2.6% May 214 9.8% -1.9% April 214 9.% -2.4% March 214 9.6% -.4% February 214 89.9% -1.7% January 214 9.5% -.3% 95% 9% 85% 8% 75%
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. January 215 1,657-1.5% December 214 1, -14.5% November 214 1,1-11.5% October 214 1,443-12.2% September 214 1,375-8.6% August 214 1,41-4.3% July 214 1,439 1.3% June 214 1,479 4.3% May 214 1,553 11.8% April 214 1,75 13.7% March 214 1,825 17.9% February 214 1,94 19.% January 214 1,851 19.7% 2,7 2, 1,7 1, 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 January 215 4.8-22.6% December 214 4.4-25.3% November 214 4.5-23.5% October 214 4.3-23.% September 214 4.2-19.% August 214 4.4-14.2% July 214 4.6-8.2% June 214 4.7-5.9% May 214 5. 1.7% April 214 5.5 2.4% March 214 6. 9.7% February 214 6.3 11.7% January 214 6.2 13.2% 11. 9. 7. 5. 3.
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. 8 7 6 4 3 2 1 Less than $, January 214 January 215 $, - $99,999 $, - $149,999 $1, - $199,999 $, - $249,999 $2, - $299,999 Sale Price Less than $, 18.% $, - $99,999 54-28.% $, - $149,999 71 42.% $1, - $199,999 65 38.3% $, - $249,999 28 115.4% $2, - $299,999 2 33.3% $, - $399,999 19 11.8% $, - $599,999 18 63.6% $6, - $999,999 6 2.% $1,, or more N/A $, - $399,999 $, - $599,999 $6, - $999,999 $1,, or more 8 7 6 4 3 2 1 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. 18 16 14 12 8 6 4 2 Less than $, January 214 January 215 $, - $99,999 $, - $149,999 $1, - $199,999 $, - $249,999 $2, - $299,999 Sale Price $1, - $199,999 37-58.% $, - $249,999 41 -.6% $2, - $299,999 Median Days on Market Less than $, 31-45.6% $, - $99,999 44-12.% $, - $149,999 31-46.6% 31-8.7% $, - $399,999 93 19.2% $, - $599,999 66-18.5% $6, - $999,999 63 133.3% $1,, or more (No Sales) N/A $, - $399,999 $, - $599,999 $6, - $999,999 $1,, or more 18 16 14 12 8 6 4 2
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. 14 12 8 6 4 2 Less than $, January 214 January 215 $, - $99,999 $, - $149,999 $1, - $199,999 $, - $249,999 $2, - $299,999 Initial Listing Price Less than $, 21 31.3% $, - $99,999 97-7.6% $, - $149,999 126-3.1% $1, - $199,999 12 1.1% $, - $249,999 95 66.7% $2, - $299,999 59 59.5% $, - $399,999 67 31.4% $, - $599,999 41 41.4% $6, - $999,999 19 46.2% $1,, or more 3 -.% $, - $399,999 $, - $599,999 $6, - $999,999 $1,, or more 14 12 8 6 4 2 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. 3 2 1 Less than $, January 214 January 215 $, - $99,999 $, - $149,999 $1, - $199,999 $, - $249,999 $2, - $299,999 Current Listing Price Less than $, 3 -.8% $, - $99,999 19-31.9% $, - $149,999 266-23.6% $1, - $199,999 288-9.4% $, - $249,999 21 8.2% $2, - $299,999 167 7.1% $, - $399,999 199 2.6% $, - $599,999 166-3.5% $6, - $999,999 5.3% $1,, or more 41 2.6% $, - $399,999 $, - $599,999 $6, - $999,999 $1,, or more 3 2 1
ly Distressed Market - January 215 January 215 January 214 Traditional 211 16 31.9% $167,9 $157, 6.9% Foreclosure/REO 83 77 7.8% $17, $9, 18.2% Short Sale 5 14-64.3% $16, $87,839 82.2% % 9% 8% 7% 6% % 4% 3% 2% 1% % $18, Traditional Foreclosure/REO Short Sale $16, $14, $12, $, $8, $6, $4, $2, $