REL ESTTE RKET REPORT Su Tu W 1 2 3 7 8 9 1 14 15 16 17 21 22 23 24 28 29 3 31 Th F Sa Sunday, January 14 4 5 6 18 11 12 13 18 19 25 26 27 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page 3 Glossary... Page 4 111 N. Causeway Blvd., Suite 11 andeville, L 7448 www.ylocalrealestate.com www.callwayneturner.com https://www.facebook.com/turnerrealestategroup http://twitter.com/nolamarketvalue http://www.youtube.com/user/wyneturnercom Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT Sunday, January 14, 18 Let's take a look at the real estate market. Currently there are 123 sales pending in the market overall, leaving 366 listings still for sale. The resulting pending ratio is 25.2% (123 divided by 489). 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." Taking a closer look, we notice that the K - 25K price range has a relatively large number of contracts pending sale. We also notice that the K - 25K price range has a relatively large inventory of properties for sale at 62 listings. The median list price (or asking price) for all properties in this market is 319,. 7 6 5 4 3 1 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Updated 1/14/18, RealarketReports.com K 5K 1K 15K K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K 1 1 Sold Off-arket Sold vs. Off-arket (Last 6 mos.) Updated 1/14/18, RealarketReports.com total of 472 contracts have closed in the last 6 months with a median sold price of 245,. Breaking it down, we notice that the K - 25K price range contains the highest number of sold listings. 8 6 4 K 5K 1K 15K K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K lternatively, a total of 156 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 7K + price range has the highest number of offmarket listings at 29 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT Sunday, January 14, 18 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 93 days. nalysis of sold properties for the last six months reveals a median sold price of 245, and 37 days on market. Notice that properties in the 15K - K price range have sold quickest over the last six months. 16 14 1 1 8 6 4 K 5K Sold For Sale 1K 15K K 25K edian Days on arket (DO) 3K 35K Updated 1/14/18, 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 3 days was 251,5 with a DO of 55 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 98.%." 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 4.7 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. 27K 26K 25K 24K 23K 2K 21K K edian Sold s Updated 1/14/18, RealarketReports.com ug Sep Oct Nov Dec Jan 6 5 4 3 1 edian Days on arket (Sold) Updated 1/14/18, RealarketReports.com ug Sep Oct Nov Dec Jan Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT Sunday, January 14, 18 RKET SURY TBLE 123 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 1 25, 299,999 29 3, 349,999 3 35, 399,999 3 366 CTIVE [1] Date Range (Off-arket & Sold) = 7/16/17 to 1/14/18 Data believed to be accurate but not guaranteed. Days on arket 9 9 Current 39, 39, 133,895 92 135, 89 225, Pend Ratio 1 5% 5, 99,999 5 N/ 1, 149,999 15, 199,999 59, 249,999 62 4, 449,999 22 45, 499,999 21 5, 549,999 7 55, 599,999 11 6, 649,999 8 65, 699,999 1 7, + 56 116 8 61 117 172,237 17, 226,93 12 38% 5 25 3% 13 32 34% 2 1 23 156 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 113 272,542 66 282,743 276,729 271,944 15 34% 16 76 95 267, 52 282,54 276,753 273,73 152 323,444 54 337,599 329,273 321,125 98% 9 23% 9 4 136 321,9 14 334,7 329,45 321,25 98% 13 375,228 91 394,341 384,515 374,423 97% 1 25% 18 41 82 375, 73 392, 385, 375, 97% 17 424,373 85 444,8 437,298 1 4% 5 79 425, 63 435,95 435, 422,5 97% 11 473,798 53 495,89 485,9 6 22% 18 11 475, 36 491, 481, 473,25 98% 148 5,571 119 584,425 543,31 1 13% 8 93 525, 88 548,7 535,675 517,5 97% 12 582,327 92 572,267 563,967 12 589, 122 574,9 565, 555, 98% 164 637,287 129 78,4 655,5 152 635, 114 689, 649,5 6, 95% 158 676,81 1 794,129 79,686 4 37 94 12 1 8 472 SOLD/CLOSED (last 6 months) [4] 148 674,95 8 75, 7, 684, 98% 25 189 1,92,424 6 1 11% 1 2 17% 3 3 5% 29 arket Totals 366 123 25% arket verages 134 432,72 3 5 7 15 Days on arket 134 71,475 49 6, 11 87,65 79,316 79,428 48 56 22 58 Original 179,95 176,5 234,875 977,5 53 849,5 849, 83, 95% 156 472 34 233,45 49,725 31,638 64% 49, 34,75 14, 138, 43 179,535 176,973 174,442 Final 229,142 Sold/ Closed - Sale Ratio 71% 1% 94,45 87, 77, 88% 143, 145, 7 875,153 87,527 64 298,542 29,159 arket edians 93 319, 37 255, 25, Status = [1] ; [2] C, U; [3] X; [4] S City Text = Dwelling Type = SGL Favors Sellers 136,519 134,134 98% 175, 225,86 226,983 225, 98% 423,45 97% 472,65 97% 521,5 96% 555,667 621,58 95% 675, 95% 835,93 96% 283, 98% 245, 98% Favors Buyers Est. os. 1.5 N/ 3.2 3.8 3.6 2.3 4.5 4.4 6.6 12.6 5.3 22 9.6 8.6 22.4 4.7 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT Sunday, January 14, 18 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 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. 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