ly Market Detail - May 214 Summary Statistics May 214 May 213 Paid in Cash 763 664 14.9% 532 475 12.% New Pending Sales 615 87-29.3% 636 578 1.% $23, $215,6 6.7% Average Sale Price $478,137 $411,289 16.3% Median Days on Market 61 118-48.3% Average Percent of Original List Price Received 92.8% 91.% 2.% Pending Inventory Inventory (Active Listings) 957 2,631 1,4-4.7% 3,243-18.9% s Supply of Inventory 5.2 7.2-27.4% 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. May 214 763 14.9% April 214 795 4.3% March 214 622 February 214 434 January 214 411 December 213 431 November 213 369 October 213 377 September 213 45 August 213 455 July 213 45 June 213 514 May 213 664 2.1% 3.1% 24.2% -2.3% -.5% -.5% 32.4% 2.1% 43.3% 1.4% 11.% 9 7 5 3 Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - May 214 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 May 214 532 12.% April 214 59 6.7% March 214 469 18.1% February 214 321 -.6% January 214 299 26.2% December 213 312-1.3% November 213 282 2.9% October 213 264-8.3% September 213 268 17.% August 213 32 9.% July 213 38 44.6% June 213 358-2.2% May 213 475 6.7% 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 May 214 69.7% -2.5% April 214 74.2% 2.3% March 214 75.4% -1.6% February 214 74.% -3.6% January 214 72.7% 1.6% December 213 72.4% 1.% November 213 76.4% 3.5% October 213 7.% -7.8% September 213 66.2% -11.6% August 213 66.4% -9.2% July 213 68.4%.9% June 213 69.6% -3.5% May 213 71.5% -3.9% 83% 78% 73% 68% 63% 58% 53% Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Pending Sales ly Market Detail - May 214 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. May 214 April 214 March 214 February 214 January 214 December 213 November 213 October 213 September 213 August 213 July 213 June 213 May 213 New Pending Sales 615 774 951 739 686 482 557 566 553 613 652 648 87-29.3% -21.7% -.1% -9.7% -4.5% -9.2% -3.8% 9.9% 49.9% 55.2% 96.4% 52.8% 7.3% 1, 9 7 5 3 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. May 214 April 214 March 214 February 214 January 214 December 213 November 213 October 213 September 213 August 213 July 213 June 213 May 213 636 681 793 778 1,13 591 728 79 532 472 538 535 578 1.% -1.% 2.1% -.6% -3.6% -1.5% -5.5% -15.8% -13.5% -13.6% -9.7% 2.5% -9.4% 1,3 1, 9 7 5 3 Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Average Sale Price ly Market Detail - May 214 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. May 214 $23, 6.7% April 214 $236, 7.2% March 214 $236,287 2.7% February 214 $219, 4.3% January 214 $219,5 15.5% December 213 $25, 2.5% November 213 $22, 12.8% October 213 $21, 31.3% September 213 $19, 2.1% August 213 $2, 9.3% July 213 $196, 22.5% June 213 $225, 14.1% May 213 $215,6 1.3% $27K $22K $17K $12K 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 May 214 $478,137 16.3% April 214 $44,796 6.6% March 214 $371,316-3.5% February 214 $412,919 26.1% January 214 $365,963 14.9% December 213 $334,624-4.2% November 213 $357,496 4.1% October 213 $39,152 14.8% September 213 $322,873 27.5% August 213 $383,359 31.6% July 213 $4,318 43.6% June 213 $392,343 27.1% May 213 $411,289 5.2% $51K $46K $41K $36K $31K $26K $21K Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - May 214 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 May 214 61-48.3% April 214 59-49.1% March 214 58-45.3% February 214 66-45.9% January 214 56-51.7% December 213 63-48.8% November 213 65-51.1% October 213 78-37.6% September 213 12-3.6% August 213 124-12.1% July 213 12-7.7% June 213 128-3.8% May 213 118-7.8% 2 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 May 214 92.8% 2.% April 214 93.1% 2.2% March 214 93.4% 2.2% February 214 92.8% 1.2% January 214 93.% 2.4% December 213 92.5% 3.% November 213 92.9% 2.8% October 213 92.8% 4.3% September 213 93.% 4.3% August 213 91.8% 4.3% July 213 93.% 3.3% June 213 92.% 3.1% May 213 91.% 2.2% 95% 9% 85% 8% 75% Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
s Supply of Inventory Inventory ly Market Detail - May 214 Inventory (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to calculate Inventory, so these numbers may not match up to others you see in your market. We calculate Inventory 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. Inventory May 214 2,631-18.9% April 214 2,71-22.6% March 214 2,875-22.7% February 214 2,986-24.5% January 214 3,25-24.8% December 213 3,229-18.1% November 213 3,264-17.8% October 213 3,68-25.5% September 213 2,894-29.9% August 213 2,757-34.4% July 213 2,766-37.3% June 213 2,954-35.9% May 213 3,243-34.3% 7,5 6,5 5,5 4,5 3,5 2,5 s Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory 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 Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. s Supply May 214 5.2-27.4% April 214 5.5-3.5% March 214 5.9-31.7% February 214 6.2-31.3% January 214 6.3-31.6% December 213 6.8-24.5% November 213 6.9-25.4% October 213 6.4-33.2% September 213 6.1-38.5% August 213 5.9-41.7% July 213 6. -43.8% June 213 6.6-4.9% May 213 7.2-39.8% 24. 19. 14. 9. 4. Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Median Days on Market ly Market Detail - May 214 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. 14 12 8 6 4 2 Less than $5, May 213 May 214 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 3-57.1% $5, - $99,999 61-21.8% $, - $149,999 129 22.9% $15, - $199,999 132 12.8% $2, - $249,999 9 23.3% $25, - $299,999 58 61.1% $3, - $399,999 71-4.1% $4, - $599,999 66 8.2% $6, - $999,999 78 34.5% $1,, or more 75 36.4% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 14 12 8 6 4 2 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. 18 16 14 12 8 6 4 2 Less than $5, May 213 May 214 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 57-51.7% $2, - $249,999 51-57.5% $25, - $299,999 Median Days on Market Less than $5, 3-52.4% $5, - $99,999 36-57.6% $, - $149,999 63-4.% 49-55.% $3, - $399,999 83-46.1% $4, - $599,999 71-49.3% $6, - $999,999 67-48.5% $1,, or more 77-51.9% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 18 16 14 12 8 6 4 2 Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
Inventory ly Market Detail - May 214 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. 12 8 6 4 2 Less than $5, May 213 May 214 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 6 5.% $5, - $99,999 35-47.8% $, - $149,999 66-31.3% $15, - $199,999 19 1.9% $2, - $249,999 89 43.5% $25, - $299,999 76 72.7% $3, - $399,999 54-12.9% $4, - $599,999 9 66.7% $6, - $999,999 69 56.8% $1,, or more 42 1.5% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 12 8 6 4 2 Inventory by Current Listing Price The number of property listings active at the end of Economists' note: There are a number of ways to calculate Inventory, so these numbers may not match up to others you see in your market. We calculate Inventory 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. 6 5 4 3 2 Less than $5, May 213 May 214 $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 22-18.5% $5, - $99,999 117-44.3% $, - $149,999 27-38.9% $15, - $199,999 333-31.3% $2, - $249,999 279-21.4% $25, - $299,999 244-3.9% $3, - $399,999 319-9.1% $4, - $599,999 435.5% $6, - $999,999 347-6.2% $1,, or more 265-16.1% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 6 5 4 3 2 Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.
ly Distressed Market - May 214 May 214 May 213 Traditional 688 597 15.2% $249,95 $23, 8.7% Foreclosure/REO 48 43 11.6% $129,95 $12, 27.4% Short Sale 27 24 12.5% $13, $114,5 13.5% % 9% 8% 7% 6% 5% 4% 3% 2% 1% % $35, Traditional Foreclosure/REO Short Sale $3, $25, $2, $15, $, $5, $ Data released on Monday, June 23, 214. Next data release is Tuesday, July 22, 214.