ly Market Detail - 213 Summary Statistics 213 212 Paid in Cash 48,46 46,754 3.5% 36,647 37,291-1.7% New Pending Sales 67,314 64,686 4.1% 83,369 75,48 11.1% $129, $13, 25.2% Average Sale Price $228,235 $196,544 16.1% Median Days on Market 47 55-14.5% Average Percent of Original List Price Received 94.7% 93.2% 1.6% Inventory (Active Listings) 23,671 2,929 13.1% Months Supply of Inventory 5.9 5.4 9.2% The number of sales transactions which closed during 213 48,46 3.5% 212 46,754 -.6% 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 -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. 211 47,25 15.9% 21 4,569 25.2% 29 32,415 52.9% 28 21,199 N/A 51, 46, 41, 36, 31, 26, 21,
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - 213 Cash Sales The number of during in which buyers exclusively paid in cash 212 Cash Sales 213 36,647-1.7% 37,291 -.7% 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. 211 21 29 28 37,556 23.1% 3,5 42.7% 21,369 119.2% 9,749 N/A 39,6 34,6 29,6 24,6 19,6 14,6 9,6 Cash Sales as a Percentage of The percentage of during which were Cash Sales Percent of Closed Sales Paid in Cash 213 75.7% -5.1% 212 79.8% -.1% 211 79.9% 6.2% 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. 21 75.2% 14.% 29 65.9% 43.3% 28 46.% N/A 85% 75% 65% 55% 45% 35%
Pending Sales ly Market Detail - 213 New Pending Sales The number of property listings that went from "Active" to "Pending" status during 213 212 New Pending Sales 67,314 4.1% 64,686 1.9% 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. 211 63,499 8.1% 21 58,714 17.4% 29 49,991 38.9% 28 36,1 N/A 75,9 65,9 55,9 45,9 35,9 The number of properties put onto the market during 213 212 83,369 11.1% 75,48-5.% 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. 211 78,984-17.6% 21 95,97 6.8% 29 89,831-15.1% 28 15,829 N/A 114,9 14,9 94,9 84,9 74,9
Average Sale Price ly Market Detail - 213 The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) 213 $129, 25.2% 212 $13, 21.2% 211 $85, -3.4% 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. 21 $88, -16.1% 29 $14,9-34.4% 28 $16, N/A $17K $15K $13K $11K $9K $7K Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) 213 Average Sale Price 212 $196,544 $228,235 16.1% 19.6% 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. 211 $164,358 -.6% 21 $165,398-4.5% 29 $173,114-32.5% 28 $256,632 N/A $27K $25K $23K $21K $19K $17K $15K
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - 213 Median Days on Market The median number of days that properties sold during were on the market Median Days on Market 213 47-14.5% 212 55-17.9% Economists' note : Median Days on Market is the amount of time the "middle" property selling this year was on the market. That is, 5% of homes selling this year 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. 211 67 6.3% 21 63-19.2% 29 78-27.1% 28 17 N/A 12 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 213 Avg. Pct. of Orig. List Price Received 212 93.2% 94.7% 1.6% 3.2% 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. 211 9.3% 1.1% 21 89.3% 5.1% 29 85.% 3.4% 28 82.2% N/A 1% 95% 9% 85% 8% 75%
Months Supply of Inventory Inventory ly Market Detail - 213 Inventory (Active Listings) The number of property listings active at the end of Inventory 213 23,671 13.1% 212 2,929-24.4% 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 calculation for the following year. 211 27,685-35.% 21 42,568-6.7% 29 45,66-24.3% 28 6,229 N/A 7,8 6,8 5,8 4,8 3,8 2,8 Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates 213 Months Supply 5.9 9.2% 212 5.4-24.% 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 Months of Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. 211 7.1-43.9% 21 12.6-25.4% 29 16.9-5.5% 28 34.1 N/A 44. 34. 24. 14. 4.
Median Days on Market ly Market Detail - 213 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 -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. 16, 14, 12, 1, 8, 6, 4, 2, Less than $5, 212 213 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 5,67-32.7% $5, - $99,999 12,961-1.3% $1, - $149,999 9,173 19.9% $15, - $199,999 5,825 21.2% $2, - $249,999 3,593 3.6% $25, - $299,999 2,488 26.4% $3, - $399,999 2,931 32.% $4, - $599,999 2,568 3.8% $6, - $999,999 1,838 25.5% $1,, or more 1,422 25.2% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 16, 14, 12, 1, 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 year was on the market. That is, 5% of homes selling this year 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. 14 12 1 8 6 4 2 Less than $5, 212 213 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 39-26.4% $2, - $249,999 49-29.% $25, - $299,999 Median Days on Market Less than $5, 53-3.6% $5, - $99,999 39-7.1% $1, - $149,999 34-27.7% 59-21.3% $3, - $399,999 69-16.9% $4, - $599,999 78-12.4% $6, - $999,999 89-16.8% $1,, or more 1-21.3% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 14 12 1 8 6 4 2
Inventory ly Market Detail - 213 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. 25, 2, 15, 1, 5, 212 213 Initial Listing Price Less than $5, 7,935-3.3% $5, - $99,999 19,626-6.8% $1, - $149,999 14,626 31.7% $15, - $199,999 9,973 29.4% $2, - $249,999 6,146 34.2% $25, - $299,999 5,12 27.7% $3, - $399,999 6,563 42.5% $4, - $599,999 5,859 3.1% $6, - $999,999 3,876 21.5% $1,, or more 3,645 26.% 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 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 calculation for the following year. 4,5 4, 3,5 3, 2,5 2, 1,5 1, 5 Less than $5, 212 213 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 1,718-21.4% $5, - $99,999 4,175 4.4% $1, - $149,999 3,323 37.8% $15, - $199,999 2,511 26.8% $2, - $249,999 1,774 26.3% $25, - $299,999 1,683 18.2% $3, - $399,999 2,466 23.2% $4, - $599,999 2,461 13.2% $6, - $999,999 1,76 6.4% $1,, or more 1,854 6.3% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 4,5 4, 3,5 3, 2,5 2, 1,5 1, 5
ly Distressed Market - 213 213 212 Traditional 34,487 29,225 18.% $155, $13, 19.2% Foreclosure/REO 7,686 8,9-4.% $92, $76,229 2.7% Short Sale 6,233 9,52-34.5% $91,95 $81,37 13.% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $18, $16, Traditional Foreclosure/REO Short Sale $14, $12, $1, $8, $6, $4, $2, $