ly Market Detail - January 216 Summary Statistics January 216 January 215 Paid in Cash 825 922-1.5% 519 634-18.1% New Pending Sales 1,258 1,471-14.5% 2,295 2,378-3.5% $143, $13, 1.% Average Sale Price $245,749 $228,649 7.5% Median Days on Market 43 5-14.% Average Percent of Original List Price Received 92.3% 91.% 1.4% Pending Inventory Inventory (Active Listings) 2,95 6,62 2,444-14.3% 6,68 -.9% s Supply of Inventory 5.6 6. -6.4% 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. January 216 825-1.5% December 215 1,161 3.7% November 215 865 October 215 1,29 September 215 1,183 August 215 1,86 July 215 1,315 June 215 1,353 May 215 1,272 April 215 1,56 March 215 1,385 February 215 99 January 215 922 2.1% 2.9% 16.2% 1.6% 24.8% 21.9% -8.% 8.7% 9.7% -2.7% -8.1% 1,7 1,5 1,3 1,1 9 7 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - January 216 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 216 519-18.1% December 215 73-1.9% November 215 592 1.5% October 215 737-8.2% September 215 727 6.6% August 215 667-8.4% July 215 82 11.7% June 215 832 11.8% May 215 861-11.4% April 215 1,45 -.3% March 215 997 7.6% February 215 727-7.5% January 215 634-15.9% 1,4 1,2 1, 8 6 4 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 62.9% -8.5% December 215 6.6% -14.% November 215 68.4% -.6% October 215 61.% -1.8% September 215 61.5% -8.3% August 215 61.4% -9.8% July 215 61.% -1.5% June 215 61.5% -8.3% May 215 67.7% -3.8% April 215 69.4% -8.3% March 215 72.% -1.9% February 215 73.4% -5.% January 215 68.8% -8.5% 9% 8% 7% 6% 5% Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Pending Sales ly Market Detail - January 216 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 1,258 1,65 1,62 1,353 1,226 1,341 1,33 1,42 1,483 1,67 1,752 1,647 1,471-14.5% -9.% -18.5% -7.1% -1.8% -5.% -2.5% -.1% -4.1% -6.% -12.9% 2.2% -4.7% 2,4 1,9 1,4 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. 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 2,295 1,625 1,779 2,81 1,791 1,68 1,658 1,658 1,812 1,89 2,13 2,42 2,378-3.5% -.4% 6.5% 4.2% 2.8% -8.1%.4% -5.% -1.7%.3% -4.1% -7.4% -3.1% 2,6 2,4 2,2 2, 1,8 1,6 1,4 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Average Sale Price ly Market Detail - January 216 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 $143, 1.% December 215 $155, 1.7% November 215 $14, 5.3% October 215 $145, 11.5% September 215 $145,5 15.5% August 215 $138, 4.3% July 215 $145, 12.8% June 215 $149,45 8.3% May 215 $152, 12.6% April 215 $15, 15.4% March 215 $143, 19.2% February 215 $128,992 4.% January 215 $13, 1.6% $16K $14K $12K $1K $8K $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 January 216 $245,749 7.5% December 215 $223,34 4.4% November 215 $252,441 23.6% October 215 $227,377 12.2% September 215 $227,886 1.8% August 215 $211,478-2.4% July 215 $233,42 12.3% June 215 $264,37 14.5% May 215 $257,964-4.6% April 215 $269,849 13.4% March 215 $267,153 14.8% February 215 $223,93 6.8% January 215 $228,649 14.4% $32K $27K $22K $17K $12K Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - January 216 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 43-14.% December 215 39-22.% November 215 36-33.3% October 215 48-14.3% September 215 45-28.6% August 215 45-19.6% July 215 46-14.8% June 215 46-16.4% May 215 49-9.3% April 215 49-1.9% March 215 49-2.% February 215 49-9.3% January 215 5-7.4% 1 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 92.3% 1.4% December 215 92.4%.5% November 215 93.1% 1.1% October 215 92.8%.7% September 215 92.1%.9% August 215 92.4%.8% July 215 92.4%.2% June 215 92.%.2% May 215 91.2%.1% April 215 91.5%.2% March 215 91.3%.% February 215 91.9% 1.% January 215 91.% -1.8% 95% 9% 85% 8% 75% Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
s Supply of Inventory Inventory ly Market Detail - January 216 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 January 216 6,62 -.9% December 215 6,123-1.8% November 215 6,17-1.% October 215 5,818-6.1% September 215 5,465-8.3% August 215 5,297-1.5% July 215 5,484-7.3% June 215 5,68-8.8% May 215 5,859-6.% April 215 6,241-3.1% March 215 6,571-6.6% February 215 6,658-5.9% January 215 6,68.3% 13,1 11,1 9,1 7,1 5,1 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 January 216 5.6-6.4% December 215 5.2-7.4% November 215 5.2-6.8% October 215 4.9-1.6% September 215 4.6-12.7% August 215 4.5-13.3% July 215 4.7-9.5% June 215 4.9-8.1% May 215 5.2-3.% April 215 5.5.7% March 215 5.9-1.% February 215 6. 2.2% January 215 6. 9.2% 11. 9. 7. 5. 3. Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Median Days on Market ly Market Detail - January 216 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 1 5 January 215 January 216 Sale Price Less than $5, 84-34.4% $5, - $99,999 187-12.6% $1, - $149,999 165-5.2% $15, - $199,999 16-11.7% $2, - $249,999 84 6.3% $25, - $299,999 49 8.9% $3, - $399,999 47-19.% $4, - $599,999 43 13.2% $6, - $999,999 33-17.5% $1,, or more 27 3.8% 25 2 15 1 5 Less than $5, $5, - $99,999 $1, - $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. 18 16 14 12 1 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 39-2.5% $2, - $249,999 54.% $25, - $299,999 Median Days on Market Less than $5, 38-5.6% $5, - $99,999 37-15.9% $1, - $149,999 35-16.7% 51-5.6% $3, - $399,999 62-1.6% $4, - $599,999 43-6.9% $6, - $999,999 73-15.1% $1,, or more 98-42.7% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 18 16 14 12 1 8 6 4 2 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
Inventory ly Market Detail - January 216 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 5 4 3 2 1 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 151-39.4% $5, - $99,999 425-16.% $1, - $149,999 382-11.2% $15, - $199,999 341.% $2, - $249,999 247 31.4% $25, - $299,999 166 1.7% $3, - $399,999 189 12.5% $4, - $599,999 187 19.1% $6, - $999,999 99-2.% $1,, or more 18 22.7% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 6 5 4 3 2 1 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. 1,4 1,2 1, 8 6 4 2 Less than $5, January 215 January 216 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 467-28.9% $5, - $99,999 1,92-1.% $1, - $149,999 98-6.% $15, - $199,999 757 -.9% $2, - $249,999 617 15.3% $25, - $299,999 494 7.4% $3, - $399,999 599.5% $4, - $599,999 693 19.3% $6, - $999,999 468 1.5% $1,, or more 525 17.7% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 1,4 1,2 1, 8 6 4 2 Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.
ly Distressed Market - January 216 January 216 January 215 Traditional 717 732-2.% $15, $149,95.% Foreclosure/REO 95 176-46.% $15, $98,2 6.9% Short Sale 13 14-7.1% $1, $9, 11.1% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $18, Traditional Foreclosure/REO Short Sale $16, $14, $12, $1, $8, $6, $4, $2, $ Data released on Tuesday,February 23, 216. Next data release is Monday, March 21, 216.