ly Market Detail - Q4 213 Summary Statistics Q4 213 Q4 212 Paid in Cash 1,571 1,253 3.1% 4,81 4,74 2.3% New Pending Sales 13,797 14,89-7.3% 17,596 14,752 19.3% $254,9 $215, 18.6% Average Sale Price $375,247 $348,169 7.8% Median Days on Market 39 56-3.4% Average Percent of Original List Price Received 95.3% 93.2% 2.3% Pending 11,447 (No Data) N/A (Active Listings) 17,748 16,112 1.2% Months Supply of 4.9 4.9 -.7% 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 quarter-to-quarter comparisons of because of potential seasonal effects. Q4 213 1,571 3.1% Q3 213 11,821 16.2% Q2 213 11,981 Q1 213 9,137 Q4 212 1,253 Q3 212 1,171 Q2 212 1,522 Q1 212 8,286 Q4 211 8,461 Q3 211 9,419 Q2 211 9,822 Q1 211 8,172 Q4 21 7,677 13.9% 1.3% 21.2% 8.% 7.1% 1.4% 1.2% 16.1% 6.9% 18.6% -9.1% 13,8 11,8 9,8 7,8 5,8
ly Market Detail - Q4 213 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 Q4 213 4,81 2.3% Q3 213 5,24 19.1% Q2 213 5,467 16.7% Q1 213 4,44 12.8% Q4 212 4,74 28.1% Q3 212 4,369 12.6% Q2 212 4,686 8.4% Q1 212 3,94 1.3% Q4 211 3,672 12.9% Q3 211 3,879 24.5% Q2 211 4,324 27.3% Q1 211 3,852 37.7% Q4 21 3,251 8.8% 5,8 Cash Sales 4,8 3,8 2,8 1,8 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 Q4 213 45.5% -.8% Q3 213 44.% 2.5% Q2 213 45.6% 2.5% Q1 213 48.2% 2.3% Q4 212 45.9% 5.7% Q3 212 43.% 4.3% Q2 212 44.5% 1.2% Q1 212 47.1%.% Q4 211 43.4% 2.5% Q3 211 41.2% 7.3% Q2 211 44.% 19.1% Q1 211 47.1% 16.1% Q4 21 42.3% 19.6% Pct. of Closed Sales Paid in Cash 5% 45% 4% 35% 3% 25%
ly Market Detail - Q4 213 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. Q4 213 Q3 213 Q2 213 Q1 213 Q4 212 Q3 212 Q2 212 Q1 212 Q4 211 Q3 211 Q2 211 Q1 211 Q4 21 New Pending Sales 13,797 16,166 18,292 16,839 14,89 14,345 15,57 14,55 11,387 12,492 13,44 12,946 1,213-7.3% 12.7% 21.5% 19.8% 3.8% 14.8% 12.3% 8.6% 11.5% 11.4% 4.8% 9.% -3.7% Pending Sales 2,1 18,1 16,1 14,1 12,1 1,1 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. Q4 213 Q3 213 Q2 213 Q1 213 Q4 212 Q3 212 Q2 212 Q1 212 Q4 211 Q3 211 Q2 211 Q1 211 Q4 21 17,596 19,71 18,353 17,768 14,752 15,893 16,486 17,29 14,83 16,47 16,612 17,846 15,774 19.3% 2.% 11.3% 2.8% -.5% -1.% -.8% -3.1% -6.% -16.4% -13.8% -7.2% -.6% 2,6 19,6 18,6 17,6 16,6 15,6 14,6
ly Market Detail - Q4 213 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. Q4 213 $254,9 18.6% Q3 213 $25, 19.% Q2 213 $245, 19.5% Q1 213 $225, 23.3% Q4 212 $215, 16.8% Q3 212 $21, 13.5% Q2 212 $25, 7.9% Q1 212 $182,5 7.4% Q4 211 $184, -3.2% Q3 211 $185, -6.6% Q2 211 $19, -7.3% Q1 211 $17, -14.6% Q4 21 $19, -7.3% $26K $24K $22K $2K $18K $16K 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 Q4 213 $375,247 7.8% Q3 213 $367,384 13.8% Q2 213 $411,199 17.2% Q1 213 $353,894 19.5% Q4 212 $348,169 15.4% Q3 212 $322,758 8.8% Q2 212 $35,863 4.6% Q1 212 $296,78.5% Q4 211 $31,721-2.2% Q3 211 $296,527-2.1% Q2 211 $335,389 5.9% Q1 211 $294,554-4.7% Q4 21 $38,368 -.9% Average Sale Price $43K $38K $33K $28K
ly Market Detail - Q4 213 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 thisquarter was on the market. That is, 5% of homes selling this quarter 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 Q4 213 39-3.4% Q3 213 38-32.1% Q2 213 46-23.3% Q1 213 58-13.4% Q4 212 56-16.4% Q3 212 56-12.5% Q2 212 6-15.5% Q1 212 67-1.7% Q4 211 67 3.1% Q3 211 64 12.3% Q2 211 71 16.4% Q1 211 75 23.% Q4 21 65.% Median Days on Market 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 Q4 213 95.3% 2.3% Q3 213 95.4% 3.% Q2 213 94.5% 3.3% Q1 213 93.6% 3.3% Q4 212 93.2% 3.1% Q3 212 92.6% 2.5% Q2 212 91.5% 2.5% Q1 212 9.6% 2.% Q4 211 9.4% 1.% Q3 211 9.3% -.3% Q2 211 89.3% -1.1% Q1 211 88.8% -1.4% Q4 21 89.5%.1% Avg. Pct. of Orig. List Price Received 1% 95% 9% 85% 8% 75%
ly Market Detail - Q4 213 (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate by counting the number of active listings on the last day of, and hold this number to compare with the same quarter the following year. Q4 213 17,748 1.2% Q3 213 16,353-2.1% Q2 213 14,854-23.% Q1 213 15,684-29.% Q4 212 16,112-31.9% Q3 212 16,7-32.3% Q2 212 19,32-26.1% Q1 212 22,91-24.4% Q4 211 23,674-23.8% Q3 211 24,668-23.% Q2 211 26,13-14.9% Q1 211 29,232-4.8% Q4 21 31,59 2.7% 44,7 39,7 34,7 29,7 24,7 19,7 14,7 Months Supply of An estimate of the number of months it will take to deplete the current 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 Months of. Higher numbers indicate a buyers' market, lower numbers a sellers' market. Months Supply Q4 213 4.9 -.7% Q3 213 4.5-15.1% Q2 213 4.3-32.% Q1 213 4.7-36.3% Q4 212 4.9-37.8% Q3 212 5.4-36.6% Q2 212 6.3-32.% Q1 212 7.4-3.4% Q4 211 7.9-32.3% Q3 211 8.4-28.4% Q2 211 9.3-16.5% Q1 211 1.6-7.8% Q4 21 11.7.4% Months Supply of 23. 18. 13. 8. 3.
ly Market Detail - Q4 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 the year-over-year percent changes rather than the absolute counts. Realtors and their clients should also be wary of quarter-to-quarter comparisons of because of potential seasonal effects. 2, 1,5 1, 5 Sale Price Less than $5, 28-31.6% $5, - $99,999 952-29.1% $1, - $149,999 1,332-16.3% $15, - $199,999 1,428-5.9% $2, - $249,999 1,212-6.1% $25, - $299,999 1,262 21.6% $3, - $399,999 1,832 48.9% $4, - $599,999 1,183 21.7% $6, - $999,999 62 19.% $1,, or more 542 21.8% 2, 1,5 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 quarter was on the market. That is, 5% of homes selling this quarter 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. Sale Price $15, - $199,999 33-35.3% $2, - $249,999 3-38.8% $25, - $299,999 Median Days on Market Less than $5, 39-2.4% $5, - $99,999 37-17.8% $1, - $149,999 38-25.5% 31-43.6% $3, - $399,999 38-3.9% $4, - $599,999 48-26.2% $6, - $999,999 66-26.7% $1,, or more 112-27.3% 12 12 1 1 Median Days on Market 8 6 4 2 8 6 4 2 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
ly Market Detail - Q4 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. Initial Listing Price Less than $5, 291-22.2% $5, - $99,999 1,414-2.5% $1, - $149,999 2,111 6.5% $15, - $199,999 2,247 15.7% $2, - $249,999 1,618 9.4% $25, - $299,999 1,977 38.7% $3, - $399,999 2,82 53.1% $4, - $599,999 2,227 39.2% $6, - $999,999 1,383 24.3% $1,, or more 1,526 24.4% 3, 3, 2,5 2, 1,5 1, 5 2,5 2, 1,5 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 by Current Listing Price The number of property listings active at the end of Economists' note: There are a number of ways to calculate, so these numbers may not match up to others you see in your market. We calculate by counting the number of active listings on the last day of, and hold this number to compare with the same quarter the following year. Current Listing Price Less than $5, 174-23.% $5, - $99,999 1,97-15.2% $1, - $149,999 1,734 15.3% $15, - $199,999 1,784 23.5% $2, - $249,999 1,298 4.5% $25, - $299,999 1,54 13.2% $3, - $399,999 2,366 23.4% $4, - $599,999 2,552 22.2% $6, - $999,999 2,28 4.1% $1,, or more 3,175 2.8% 3,5 3, 2,5 2, 1,5 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 3,5 3, 2,5 2, 1,5 1, 5
ly Market Detail - Q4 213 Q4 213 Q4 212 Traditional 7,346 6,37 16.5% $299,9 $261,75 14.6% Foreclosure/REO 1,61 1,555 3.% $156,5 $136,55 14.6% Short Sale 1,624 2,391-32.1% $175, $16, 9.4% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $35, Traditional Foreclosure/REO Short Sale $3, $25, $2, $15, $1, $5, $