REL ESTTE RKET REPORT SIERR VIST Z RE Su Tu W 4 5 6 1 11 12 1 17 18 19 2 24 25 26 27 1 Th F Sa Sunday, December 1 2 217 7 8 9 14 15 16 21 22 2 28 29 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page Glossary... Page 4 122 N. 7th Street Sierra Vista, rizona 8565 www.sierravistahome.com www.sierravistaarketreport.com 52.452.4 facebook.com/sierravistahomes linkedin.com/in/sonnyleerealtor Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT SIERR VIST Z RE Sunday, December, 217 Let's take a look at the real estate market. Currently there are 48 sales pending in the market overall, leaving 4 listings still for sale. The resulting pending ratio is 12.4% (48 divided by 88). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked! The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. lternatively, a low ratio means there are not enough qualified buyers for the existing supply. "Current inventory is described as somewhat slow." 52.452.4 Taking a closer look, we notice that the 1K - 15K price range has a relatively large number of contracts pending sale. We also notice that the 15K - 2K price range has a relatively large inventory of properties for sale at 8 listings. The median list price (or asking price) for all properties in this market is 2,. 9 8 7 6 5 4 2 1 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Sierra Vista Z rea Updated on 12//217, www.realarketreports.com K 5K 1K 15K 2K 25K K 5K 4K 45K 5K 55K 6K 65K 7K 25 Sold Off-arket Sold vs. Off-arket (Last 6 mos.) Sierra Vista Z rea Updated on 12//217, www.realarketreports.com total of 525 contracts have closed in the last 6 months with a median sold price of 179,9. Breaking it down, we notice that the 15K - 2K price range contains the highest number of sold listings. 2 15 1 5 K 5K 1K 15K 2K 25K K 5K 4K 45K 5K 55K 6K 65K 7K lternatively, a total of 947 listings have failed to sell in that same period of time. ings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The 15K - 2K price range has the highest number of off-market listings at 24 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT SIERR VIST Z RE Sunday, December, 217 52.452.4 Looking at the chart to the right, you might be wondering why average days on market (DO) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DO), or a seller's market (indicated by low DO). ctive listings (properties for sale) have been on the market for a median time of 71 days. nalysis of sold properties for the last six months reveals a median sold price of 179,9 and 84 days on market. Notice that properties in the 4K - 45K price range have sold quickest over the last six months. 4 5 25 2 15 1 5 K 5K Sold For Sale 1K 15K 2K 25K edian Days on arket (DO) K 5K Sierra Vista Z rea Updated on 12//217, www.realarketreports.com 4K 45K 5K 55K 6K 65K 7K The recent history of sales can be seen in the two charts below. The median sold price for the last days was 185, with a DO of 82 days. Since the recent DO is less than the median DO for the last 6 months, it is a positive indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes. "The median list-to-sales ratio for this area is 99.9%." Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property. nalysis of the absorption rate indicates an inventory of.9 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future. 19K 185K 18K 175K 17K 165K 16K edian Sold s Sierra Vista Z rea Updated on 12//217, www.realarketreports.com Jul ug Sep Oct Nov Dec 12 1 8 6 4 2 edian Days on arket (Sold) Sierra Vista Z rea Updated on 12//217, www.realarketreports.com Jul ug Sep Oct Nov Dec Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT SIERR VIST Z RE Sunday, December, 217 RKET SURY TBLE 48 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 7 5, 99,999 2 1, 149,999 45 15, 199,999 8 2, 249,999 6 25, 299,999 51, 49,999 24 5, 99,999 25 4, 449,999 4 45, 499,999 5, 549,999 2 55, 599,999 1 4 CTIVE [1] Days on arket 96 11 97 77,422 8 2% 51 65 84 78,7 94 92 Current 9,264 4, 129,687 64 1, 94 72 98 176,7 175, 22,878 87 225, Pend Ratio 16 14 24% 147 7 8% 24 8 12% 185 947 OFF-RKET (last 6 mos) [] BSORPTION RTE (months of inventory) 19 274,41 15 285,25 279,414 272,668 8 14% 126 55 64 274,9 14 284,54 279,9 272, 2,94 1 2,1 12 29,5 26,46 22,727 99% 1 4% 76 1 86 24,65 7, 29,9 2, 97% 76 68,118 95 74,78 69,477 59,24 97% 2 7% 5 1 57 69,9 85 69,9 59,9 57, 99% 129 44,481 84 48,8 42,18 19 142 42, 71 44, 428,9 41, 96% 15 482,667 11 52,9 479,597 15 127 499, 126 499, 479, 455, 95% 52 527,75 16 552,975 546,225 7 52 527,75 158 57,45 56,5 522,5 97% 57 55, 172 619,9 589,45 4 1 112 129 9 5 525 SOLD/CLOSED (last 6 months) [4] Days on arket 17 8,69 9 5,5 12 89,954 84,425 8,257 57 55, 172 619,9 589,45 561, 95% 6, 649,999 4 65, 699,999 4 2 119 81 99 Original 18, 179,9 76 229,9 2,792 29,98 91%,, 14,7 1, 11 182,875 178,4 175,4 Final 228,9 Sold/ Closed - Sale Ratio 1% 95% 89,9 87,5 85, 97% 14,29 82 15,75 52.452.4 12,5 128,28 97% 97% 98% 175, 97% 222,65 98% 227,5 224, 98% 98% 97% 417,6 97% 458, 96% 525,5 96% 561, 95% Est. os..2 2.4.9.9 5.6 4.6 11.5 4.8 6 7, + Date Range (Off-arket & Sold) = 6/4/217 to 12//217 Data believed to be accurate but not guaranteed. 164 117 1,17, 1,15, arket verages 99 22,285 4 arket Totals 4 48 12% 947 525 117 198,82 194,625 arket edians 71 2, 84 185, 18, Status = [1] ; [2] P; [] L, E; [4] C Zip Code = 8565, 85616, 85615, 8565 Dwelling = Single Family Res Favors Sellers 189,84 98% 179,9 1% Favors Buyers.9 Real arket Reports www.realarketreports.com arket Summary Table
REL ESTTE RKET REPORT SIERR VIST Z RE Sunday, December, 217 1. PROPERTIES FOR SLE (CTIVE) a. ber ctive: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on arket (DO): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current : The price that a property seller is currently asking. 2. CONTRCTS PENDING 52.452.4 a. ber Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio = P (ber of Pending ings) +P (ber of ctive + Pending) (P) represents properties that buyers have chosen (+P) represents the entire pool from which they have chosen. OFF-RKET a. ber Off-arket: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRCT) a. ber Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on arket (DO): The marketing time it has taken properties to sell in the last 6 months. c. Original : The price at which a sold property was originally marketed. d. Final : The price at which a sold property was marketed just prior to selling. e. Sold/Closed : The price for which a property sold. f. to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. to Sales Ratio = Sold Final 5. BSORPTION RTE / ONTHS OF INVENTORY a. bsorption Rate / onths of Inventory: n estimate of how fast listings are currently selling measured in months. For example, if 1 properties sell per month and there are 8 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market. Real arket Reports www.realarketreports.com 4 Glossary