REL ESTTE RKET REPORT L GULF COST CONDOS Su Tu W 3 5 6 1 11 12 13 17 18 19 2 2 25 26 27 Th F Sa Sunday, September 3 1 2 217 7 8 9 1 15 16 21 22 23 28 29 3 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page 3 Glossary... Page Keller Williams labama Gulf Coast 2252 Highway 98 Fairhope, L 36532 www.gulfshoreslife.com 251-923-2321 https://www.facebook.com/gulfshoreslife http://www.linkedin.com/profile/view?id=85169 http://twitter.com/gulfshoreslife http://www.youtube.com/user/gulfshoreslife Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT L GULF COST CONDOS Sunday, September 3, 217 Let's take a look at the real estate market. Currently there are 19 sales pending in the market overall, leaving 576 listings still for sale. The resulting pending ratio is 2.8% (19 divided by 766). 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 mildly active." Keller Williams labama Gulf Coast Taking a closer look, we notice that the 1K - 2K price range has a relatively large number of contracts pending sale. We also notice that the 3K - K price range has a relatively large inventory of properties for sale at 118 listings. The median list price (or asking price) for all properties in this market is 399,5. 1 12 1 8 6 2 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract L Gulf Coast Condos Updated 9/3/217, RealarketReports.com Copyright K 1K 2K 3K K 5K 6K 7K 8K 9K 1. 1.1 1.2 1.3 1. 25 2 Sold Off-arket Sold vs. Off-arket (Last 6 mos.) L Gulf Coast Condos Updated 9/3/217, RealarketReports.com Copyright total of 95 contracts have closed in the last 6 months with a median sold price of 32,. Breaking it down, we notice that the 1K - 2K price range contains the highest number of sold listings. 15 1 5 K 1K 2K 3K K 5K 6K 7K 8K 9K 1. 1.1 1.2 1.3 1. lternatively, a total of 215 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 3K - K price range has the highest number of off-market listings at 6 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT L GULF COST CONDOS Sunday, September 3, 217 Keller Williams labama Gulf Coast 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 91 days. nalysis of sold properties for the last six months reveals a median sold price of 32, and 92 days on market. Notice that properties in the 1.1-1.2 price range have sold quickest over the last six months. 35 3 25 2 15 1 5 K 1K Sold For Sale 2K 3K K 5K edian Days on arket (DO) 6K L Gulf Coast Condos Updated 9/3/217, RealarketReports.com Copyright 7K 8K 9K 1. 1.1 1.2 1.3 1. The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 379,75 with a DO of 1 days. Since the recent DO is greater than the median DO for the last 6 months, it is a negative 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 97.7%." 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 3.7 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. K 35K 3K 25K 2K 15K 1K 5K K edian Sold s L Gulf Coast Condos Copyright Updated 9/3/217, RealarketReports.com pr ay Jun Jul ug Sep 1 12 1 8 6 2 edian Days on arket (Sold) L Gulf Coast Condos Copyright Updated 9/3/217, RealarketReports.com pr ay Jun Jul ug Sep Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT L GULF COST CONDOS Sunday, September 3, 217 RKET SURY TBLE 19 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 99,999 1, 199,999 61 2, 299,999 11 3, 399,999 118, 99,999 85 5, 599,999 61 6, 699,999 28 7, 799,999 57 8, 899,999 9 9, 999,999 8 1,, 1,99,999 5 1,1, 1,199,999 9 1,2, 1,299,999 3 1,3, 1,399,999 6 1,, + 12 576 CTIVE [1] Date Range (Off-arket & Sold) = 3/5/217 to 9/3/217 Data believed to be accurate but not guaranteed. Days on arket 96 165,926 2 1% 23 5 177, 79 93 Current 256,859 63 257,75 1 6 161 352,363 39,9 58,12 116 5, Pend Ratio 2 N/ 3 3 23% 37 25 17% 6 32 27% 29 215 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 17 57,28 211 552,27 535,693 23 27% 27 7 95 59, 11 57, 53, 233 66,95 1 655,88 6,8 98% 2 2% 15 81 135 669,5 38 6, 635, 99% 196 755,85 135 765,659 738,618 96% 8 12% 5 17 23 755, 115 765, 733, 96% 12 851,656 23 86,6 2 18% 7 85, 12 829, 825,5 1% 231 95,225 266 996,81 128 99,5 21 999,125 969,5 199 1,77,98 195 1,1,818 19 1,85, 82 1,9, 1,5, 96% 21 1,156, 5 1,181,667 1 192 172 12 5 95 SOLD/CLOSED (last 6 months) [] 132 1,15, 16 1,19, 1,1, 92% 139 1,215, 1 1,2, 253 1,333,167 168 1,325, 399 156 2,19,125 1 11% 2 2 1 1% 1 2 2 arket Totals 576 19 25% arket verages 1 92,898 11 3 Days on arket 88 131 16,882 155,35 12 71 77 27 12 Original 75,36 73,29 98% 87,25 87,5 25, 2,5 16 36,33 37,959 365, 52,197 1,97,5 159 1,95, 1,82,5 9% 215 95 351 Final 65,597 Sold/ Closed - Sale Ratio 1% 16,9 159,9 256,121 27, 96% 98% 35, 96% 69, 51, 96% 1,98,75 183 372,265 arket edians 91 399,5 92 327,5 Status = [1] ; [2] P, U; [3] W, X, D, T; [] C City = Gulf Shores, Orange Beach Property Type = N Favors Sellers Keller Williams labama Gulf Coast 832,1 98% 972,125 98% 1,52,727 96% 1,118,333 95% 1,852,5 95% 36,711 32, 98% Favors Buyers Est. os. N/ 1.6 3.6.1 3.6 5.2 2.1 2.1 1.8 12 2.7 18 18 3.7 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT L GULF COST CONDOS Sunday, September 3, 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 Keller Williams labama Gulf Coast 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 3. 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.. 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 Glossary