REL ESTTE RKET REPORT FRISCO RKET TRENDS Su Tu W Th F Sa 1 2 3 4 Sunday, November 5 5 6 7 8 9 1 11 12 13 14 15 16 17 18 19 2 21 22 23 24 25 26 27 28 29 3 217 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page 3 Glossary... Page 4 Expert dvisor Home Services 617 Research Rd Ste 222 Frisco, TX 7533 www.expertadvisordfw.com www.searchnorthtxmls.com Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT FRISCO RKET TRENDS Sunday, November 5, 217 Let's take a look at the real estate market. Currently there are 236 sales pending in the market overall, leaving 128 listings still for sale. The resulting pending ratio is 18.7% (236 divided by 1,264). 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 somewhat slow." Expert dvisor Home Services Taking a closer look, we notice that the 3K - 4K price range has a relatively large number of contracts pending sale. We also notice that the 3K - 4K price range has a relatively large inventory of properties for sale at 234 listings. The median list price (or asking price) for all properties in this market is 499,. 25 2 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Frisco arket Trends Updated 11/5/217, RealarketReports.com 15 1 5 K 1K 2K 3K 4K 5K 6K 7K 8K 9K 1. 1.1 1.2 1.3 1.4 7 6 5 4 3 2 1 K Off-arket 1K 2K 3K 4K vs. Off-arket (Last 6 mos.) 5K 6K Frisco arket Trends 7K Updated 11/5/217, RealarketReports.com 8K 9K 1. 1.1 1.2 1.3 1.4 total of 1937 contracts have closed in the last 6 months with a median sold price of 412,4. Breaking it down, we notice that the 3K - 4K price range contains the highest number of sold listings. lternatively, a total of 55 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 4K - 5K price range has the highest number of off-market listings at 159 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT FRISCO RKET TRENDS Sunday, November 5, 217 Expert dvisor Home Services 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 66 days. nalysis of sold properties for the last six months reveals a median sold price of 412,4 and 24 days on market. Notice that properties in the 1.3-1.4 price range have sold quickest over the last six months. 16 14 12 1 8 6 4 2 K 1K For Sale 2K 3K 4K 5K edian Days on arket (DO) 6K Frisco arket Trends 7K Updated 11/5/217, RealarketReports.com 8K 9K 1. 1.1 1.2 1.3 1.4 The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 394,5 with a DO of 3 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 98.4%." 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 3.2 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. 43K 42K 41K 4K 39K 38K 37K edian s Frisco arket Trends Updated 11/5/217, RealarketReports.com Jun Jul ug Sep Oct Nov 4 35 3 25 2 15 1 5 edian Days on arket () Frisco arket Trends Updated 11/5/217, RealarketReports.com Jun Jul ug Sep Oct Nov Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT FRISCO RKET TRENDS Sunday, November 5, 217 Expert dvisor Home Services RKET SURY TBLE 236 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 99,999 1, 199,999 1 2, 299,999 74 3, 399,999 234 4, 499,999 216 5, 599,999 175 6, 699,999 129 7, 799,999 81 8, 899,999 28 9, 999,999 26 1,, 1,99,999 2 1,1, 1,199,999 7 1,2, 1,299,999 6 1,3, 1,399,999 7 1,4, + 42 128 CTIVE [1] arket verages 88 69,93 Date Range (Off-arket & ) = 5/7/217 to 11/5/217 Data believed to be accurate but not guaranteed. Days on arket 25 199,9 4 8% 3 7 25 199,9 7 arket Totals 1,28 236 19% 44 63 47 93 12 555,759 85 581,655 562,835 544,889 34 16% 84 269 8 549,999 57 575, 559,9 54, 17 755,239 69 772,494 762,265 742,749 97% 11 12% 27 74 1 75, 29 769, 76,77 74,25 97% 17 87 844,995 66 891,49 87, 846, 97% 123 11 949,9 56 999,995 999,9 97, 97% 1 1 1,55, 43 1,75, 1,75, 1,5, 98% 88 86 1,195, 44 1,193,5 1,159,45 1,12, 97% 132 137 1,277,5 57 1,359,9 1,317,45 1,265, 96% 11 82 1,385, 14 1,419,75 1,419,75 1,37,8 97% 119 98 Current 279,962 32 285, 356,55 358,95 455,55 65 459,9 94 651,816 85 65, 851,2 947,825 1,55, 1,183,986 1,279,817 1,363,486 2,518,247 1,915,1 71 23% 135 37 15% 21 11 28% 18 5 16% 9 1 33% 5 1 13% 4 1 14% 1 1 13% 1 24 55 1937 arket edians 66 499, 24 425, 419, Pend Ratio 14% Status = [1] ctive, ctive Contingent, ctive Kick Out, ctive Option Contract; [2] Pending; [3] Cancelled, Temp Off arket, Withdrawn, Withdrawn Sublisting; [4] City = Frisco PropertySubType = RES-Single Family 38 34% 31 55 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 1 2 159 48 1937 SOLD/CLOSED (last 6 months) [4] 34 593 426 166 38 13 17 8 1 2 8 Days on arket 79 899,795 872,356 77 1,55,79 1,26,75 73 1,92,988 1,75,754 115 1,261,75 1,176,613 87 1,42,47 1,344,65 14 1,419,75 1,419,75 81 Original 39 29, 39 29, 271,384 1 274,9 2,155,75 2,18,875 79 2,349,5 Final 5 482,982 469,99 / Closed 268,48 267,485 1% 343, 98% 641,275 - Sale Ratio 29, 47,718 16% 29, 47,718 16% 24 24,143 24,143 182,286 89% 19 199, 199, 185, 93% 274, 27, 99% 3 355,297 349,354 346,28 99% 15 54 35, 349, 29 459,995 83 475,441 683,524 454,94 445,645 98% 45, 445, 99% 666,312 58 679, 663,328 Favors Sellers 97% 96% 96% 635,134 96% 848,557 97% 963,537 94% 1,49,746 98% 1,132,75 96% 1,25,48 93% 1,37,8 97% 1,977,388 94% 2,287,5 2,157, 94% 458,734 98% 412,4 98% Favors Buyers Est. os. N/.9 1.5 2.4 3 3.9 4.7 6.6 4.4 12.7 5.3 3.6 21 31.5 3.2 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT FRISCO RKET TRENDS Sunday, November 5, 217 Expert dvisor Home Services 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 : 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. /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 = 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