Summary Statistics April 213 April 212 Paid in Cash 1,559 1,352 15.3% 1,24 1,119 1.8% New Pending Sales 2,22 1,397 58.9% 1,951 1,974-1.2% $18, $9, 2.% Average Sale Price $24,538 $187,116 9.3% Median Days on Market 75 84-1.7% Average Percent of Original List Price Received 91.6% 89.3% 2.6% Pending 3,478 (No Data) N/A (Active Listings) 6,428 1,614-39.4% s Supply of 5.4 9.3-42.3% 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. April 213 1,559 15.3% March 213 1,474 6.6% February 213 1,88 January 213 878 December 212 1,122 November 212 1,53 October 212 1,19 September 212 1,9 August 212 1,221 July 212 1,74 June 212 1,271 May 212 1,453 April 212 1,352 4.6% 1.4% 6.% 11.2% 14.9% -8.8% -1.1% -.3% -1.2% 9.8% -5.9% 1,8 1, 8
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 April 213 1,24 1.8% March 213 1,177 2.7% February 213 873.% January 213 692-1.3% December 212 887 3.9% November 212 847 1.1% October 212 874 15.3% September 212 795-8.3% August 212 966 1.6% July 212 839.5% June 212 1,8-2.9% May 212 1,178 9.% April 212 1,119-6.8% 1, Cash Sales 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 April 213 79.5% -3.9% March 213 79.9% -3.6% February 213 8.2% -4.4% January 213 78.8% -2.6% December 212 79.1% -2.1% November 212 8.4% -.9% October 212 78.8%.3% September 212 78.8%.5% August 212 79.1% 2.7% July 212 78.1%.8% June 212 79.3% -1.7% May 212 81.1% -.8% April 212 82.8% -.9% Pct. of Closed Sales Paid in Cash 92% 82% 72% 62% 52%
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. April 213 March 213 February 213 January 213 December 212 November 212 October 212 September 212 August 212 July 212 June 212 May 212 April 212 New Pending Sales 2,22 2,197 1,992 1,816 1,41 1,574 1,495 1,282 1,312 1,21 1,221 1,416 1,397 58.9% 37.6% 52.5% 59.2% 42.1% 59.5% 52.9% 23.% 12.5% 12.9% 6.9% 13.% 2.3% Pending Sales 2, 1,9 1, 9 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. April 213 March 213 February 213 January 213 December 212 November 212 October 212 September 212 August 212 July 212 June 212 May 212 April 212 1,951 1,926 1,961 2,284 1,53 1,691 1,846 1,578 1,648 1,614 1, 1,815 1,974-1.2% -9.5%.1% 3.9% -1.2% -1.8% -3.5% -3.% -8.1% 2.6% -9.4% -5.% -4.5% 2, 2, 2,2 2, 1,8 1, 1,
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. April 213 $18, 2.% March 213 $11,25 22.7% February 213 $97,675 28.5% January 213 $9, 15.4% December 212 $98,75 34.4% November 212 $9, 14.9% October 212 $91, 24.6% September 212 $84, 9.1% August 212 $88,75 17.5% July 212 $9, 9.8% June 212 $89, 16.3% May 212 $98,425 15.8% April 212 $9, 5.9% $12K $11K $K $9K $8K $7K $6K 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 April 213 $24,538 9.3% March 213 $173,486 14.4% February 213 $185,989 34.5% January 213 $168,945 13.1% December 212 $26,54 54.3% November 212 $146,952-1.1% October 212 $181,983 49.1% September 212 $145,786 11.% August 212 $16,276 2.8% July 212 $156,62 12.1% June 212 $164,339 4.2% May 212 $188,741 17.7% April 212 $187,116 11.5% Average Sale Price $26K $21K $16K $11K
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 April 213 75-1.7% March 213 75-17.6% February 213 73-16.1% January 213 73-18.9% December 212 76-7.3% November 212 79-14.1% October 212 87 2.4% September 212 84-6.7% August 212 83-1.2% July 212 78-16.1% June 212 79-16.% May 212 89-4.3% April 212 84-11.6% Median Days on Market 15 5 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 April 213 91.6% 2.6% March 213 91.1% 2.7% February 213 92.% 3.7% January 213 92.5% 3.2% December 212 91.2% 2.7% November 212 92.1% 4.2% October 212 91.4% 3.2% September 212 9.5% 2.7% August 212 9.5% 1.8% July 212 9.5% 3.1% June 212 9.2% 3.2% May 212 89.6% 4.2% April 212 89.3% 4.% Avg. Pct. of Orig. List Price Received 95% 9% 85% 8% 75% 7% 65%
(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. April 213 6,428-39.4% March 213 6,73-38.8% February 213 7,89-37.7% January 213 7,181-37.5% December 212 7,54-37.2% November 212 6,85-41.4% October 212 8,276-28.2% September 212 8,536-25.3% August 212 8,919-24.4% July 212 9,264-23.4% June 212 9,581-23.7% May 212 1,73-23.% April 212 1,614-21.9% 18, 16, 14, 12, 1, 8, 6, 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 April 213 5.4-42.3% March 213 5.7-4.5% February 213 6.1-38.3% January 213 6.2-37.8% December 212 6.1-37.2% November 212 5.9-41.2% October 212 7.2-28.1% September 212 7.5-25.3% August 212 7.8-26.4% July 212 8.1-27.9% June 212 8.4-29.8% May 212 8.8-29.9% April 212 9.3-3.3% s Supply of 34. 29. 24. 19. 14. 9. 4.
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. 5 2 Sale Price Less than $5, 297-14.7% $5, - $99,999 446 19.3% $, - $149,999 265 25.% $15, - $199,999 164 25.2% $2, - $249,999 89 27.1% $25, - $299,999 58 56.8% $, - $399,999 75 59.6% $, - $599,999 62 12.7% $, - $999,999 54 14.9% $1,, or more 49 58.1% 5 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $, - $399,999 $, - $599,999 $, - $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. Sale Price $15, - $199,999 77-13.5% $2, - $249,999 68-48.1% $25, - $299,999 Median Days on Market Less than $5, 77 8.5% $5, - $99,999 6-2.% $, - $149,999 57-26.9% 113 5.6% $, - $399,999 129-11.% $, - $599,999 144 56.5% $, - $999,999 149 3.7% $1,, or more 147 26.7% Median Days on Market 16 14 12 8 6 4 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $, - $399,999 $, - $599,999 $, - $999,999 $1,, or more 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. Initial Listing Price Less than $5, 277-3.4% $5, - $99,999 489-13.6% $, - $149,999 34 13.% $15, - $199,999 25 4.6% $2, - $249,999 148 39.6% $25, - $299,999 111 24.7% $, - $399,999 118 25.5% $, - $599,999 126 14.5% $, - $999,999 85 14.9% $1,, or more 52 3.% 5 2 5 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $, - $399,999 $, - $599,999 $, - $999,999 $1,, or more 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. Current Listing Price Less than $5, 89-53.2% $5, - $99,999 1,164-53.6% $, - $149,999 737-47.5% $15, - $199,999 597-4.8% $2, - $249,999 498-25.7% $25, - $299,999 456-2.% $, - $399,999 595-17.1% $, - $599,999 621-18.9% $, - $999,999 53-16.6% $1,, or more 367-2.4% 1, 1,2 1, 8 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $, - $399,999 $, - $599,999 $, - $999,999 $1,, or more 1, 1,2 1, 8 2
April 213 April 212 Traditional 1,348 1,45 29.% $115, $, 15.% Foreclosure/REO 77 12-35.8% $76, $62,37 21.9% Short Sale 134 188-28.7% $78,5 $75, 4.7% % 9% 8% 7% 6% 5% 4% 3% 2% 1% % $16, Traditional Foreclosure/REO Short Sale $14, $12, $, $8, $6, $4, $2, $