Summary Statistics January 216 January 215 Paid in Cash 1,111 1,37 7.1% 432 479-9.8% New Pending Sales 1,66 1,889-15.% 2,835 2,777 2.1% $285, $273,75 4.1% Average Sale Price $437,447 $558,63-21.7% Median Days on Market 44 52-15.4% Average Percent of Original List Price Received 93.3% 92.9%.4% Pending (Active Listings) 2,929 7,67 3,337-12.2% 7,828-2.% s Supply of 5. 5.7-13.3% 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 216 1,111 7.1% December 215 1,527 6.% November 215 1,186 October 215 1,481 September 215 1,529 August 215 1,518 July 215 1,81 June 215 1,91 May 215 1,739 April 215 1,743 March 215 1,687 February 215 1,231 January 215 1,37 7.4% -.4% 12.8% 1.2% 19.5% 16.2% 6.% 17.9% 37.7% 33.7% 14.6% 2,2 1,7 1,2 7
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 216 432-9.8% December 215 566-12.2% November 215 486-6.4% October 215 558-9.3% September 215 575-2.% August 215 552-16.6% July 215 643 1.7% June 215 78 3.9% May 215 77-6.7% April 215 728 -.3% March 215 791 32.9% February 215 564 25.9% January 215 479 -.2% 9 8 7 6 4 3 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 216 38.9% -15.8% December 215 37.1% -17.2% November 215 41.% -12.8% October 215 37.7% -8.9% September 215 37.6% -13.2% August 215 36.4% -17.6% July 215 35.5% -14.8% June 215 41.% -1.6% May 215 4.7% -12.% April 215 41.8% -15.4% March 215 46.9% -3.5% February 215 45.8% -5.8% January 215 46.2% -12.9% 65% 55% 45% 35% 25%
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 216 December 215 November 215 October 215 September 215 August 215 July 215 June 215 May 215 April 215 March 215 February 215 January 215 New Pending Sales 1,66 1,381 1,471 1,743 1,66 1,729 1,847 1,98 2,23 2,212 2,277 2,48 1,889-15.% -4.8% -15.9% -8.6% -16.4% -12.1% -4.8% -3.6% -6.7% -4.1% 9.9% 29.8% 26.3% 2,8 2,3 1,8 1,3 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 216 December 215 November 215 October 215 September 215 August 215 July 215 June 215 May 215 April 215 March 215 February 215 January 215 2,835 1,833 2,157 2,594 2,275 2,256 2,429 2,433 2,324 2,54 2,74 2,465 2,777 2.1% -5.% 3.8% 4.1% -4.6% -3.1% 7.4%.6% -5.3% 1.6% 15.4% 17.2% 13.% 3,2 2,7 2,2 1,7 1,2
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. January 216 $285, 4.1% December 215 $35, 1.9% November 215 $295, 11.3% October 215 $285, 3.6% September 215 $285, 5.9% August 215 $295, 9.3% July 215 $289,25 3.3% June 215 $35, 3.4% May 215 $295,4 4.8% April 215 $3, 1.1% March 215 $279, -2.8% February 215 $27, -8.8% January 215 $273,75 -.5% $36K $31K $26K $21K $16K 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 216 $437,447-21.7% December 215 $512,187-1.2% November 215 $442,841 4.% October 215 $413,875 1.5% September 215 $425,641 4.8% August 215 $425,843 3.2% July 215 $417,79-9.4% June 215 $527,754-8.8% May 215 $462,86-15.% April 215 $534,75 19.4% March 215 $422,229-17.2% February 215 $474,764-14.9% January 215 $558,63 24.2% $69K $59K $49K $39K $29K
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, 5% of homes selling this month took less time to sell, and 5% 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 216 44-15.4% December 215 38-32.1% November 215 37-4.3% October 215 37-32.7% September 215 35-35.2% August 215 36-34.5% July 215 38-3.9% June 215 4-24.5% May 215 42-25.% April 215 46-9.8% March 215 45-18.2% February 215 53-1.2% January 215 52-5.5% 12 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 216 93.3%.4% December 215 93.3%.5% November 215 93.5%.5% October 215 94.%.% September 215 94.% 1.1% August 215 94.1% 1.% July 215 93.9%.6% June 215 93.5%.2% May 215 93.5%.9% April 215 93.1% -.4% March 215 92.8%.% February 215 93.1% -.6% January 215 92.9% -.7% % 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 216 7,67-2.% December 215 7,86-5.4% November 215 7,32-3.6% October 215 7,125-5.5% September 215 6,811-6.9% August 215 6,622-7.9% July 215 6,761-6.7% June 215 6,726-7.4% May 215 6,857-6.% April 215 7,33 -.3% March 215 7,636 7.7% February 215 7,796 11.4% January 215 7,828 18.7% 13,2 11,2 9,2 7,2 5,2 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 216 5. -13.3% December 215 4.6-16.6% November 215 4.8-15.9% October 215 4.7-17.7% September 215 4.5-2.2% August 215 4.4-21.6% July 215 4.5-21.6% June 215 4.5-21.9% May 215 4.7-21.1% April 215 5. -16.8% March 215 5.4-9.2% February 215 5.6-3.2% January 215 5.7 5.8% 13. 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. 25 2 15 5 January 215 January 216 Sale Price Less than $5, 12-25.% $5, - $99,999 6-9.1% $, - $149,999 11-8.2% $15, - $199,999 125 5.% $2, - $249,999 146 11.5% $25, - $299,999 151-1.9% $3, - $399,999 25 19.9% $4, - $599,999 159 26.2% $6, - $999,999 81 39.7% $1,, or more 71-17.4% 25 2 15 5 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 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, 5% of homes selling this month took less time to sell, and 5% 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. 14 12 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 19-52.5% $2, - $249,999 43-1.4% $25, - $299,999 Median Days on Market Less than $5, 3 57.9% $5, - $99,999 31-18.4% $, - $149,999 3-37.5% 37-24.5% $3, - $399,999 59 4.5% $4, - $599,999 7 2.9% $6, - $999,999 89-14.4% $1,, or more 14-1.3% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 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. 6 4 3 2 Less than $5, January 215 January 216 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 12-7.% $5, - $99,999 93-38.% $, - $149,999 164-25.1% $15, - $199,999 222-11.6% $2, - $249,999 264.8% $25, - $299,999 316-5.1% $3, - $399,999 52 -.4% $4, - $599,999 542 23.2% $6, - $999,999 349 24.6% $1,, or more 371 24.5% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 6 4 3 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. 2, 1, 1, January 215 January 216 Current Listing Price Less than $5, 21-67.7% $5, - $99,999 264-3.5% $, - $149,999 321-29.5% $15, - $199,999 418-14.% $2, - $249,999 481-11.7% $25, - $299,999 648-11.8% $3, - $399,999 1,225 1.% $4, - $599,999 1,44 6.4% $6, - $999,999 1,148 8.1% $1,, or more 1,74 11.% 2, 1, 1, Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more
ly Distressed Market - January 216 January 216 January 215 Traditional 924 765 2.8% $3, $33, -1.2% Foreclosure/REO 152 221-31.2% $225,5 $185,625 21.2% Short Sale 35 51-31.4% $225, $229,325-1.9% % 9% 8% 7% 6% 5% 4% 3% 2% 1% % $4, Traditional Foreclosure/REO Short Sale $35, $3, $25, $2, $15, $, $5, $