REL ESTTE RKET REPORT JEFFERSON PRISH Su Tu W 1 2 6 7 8 9 13 14 15 16 2 21 22 23 27 28 29 3 Th F Sa Sunday, ay 6 3 4 5 218 1 11 12 17 18 19 24 25 26 31 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 JEFFERSON PRISH Sunday, ay 6, 218 Let's take a look at the real estate market. Currently there are 576 sales pending in the market overall, leaving 921 listings still for sale. The resulting pending ratio is 38.5% (576 divided by 1,497). 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 15K - 2K price range has a relatively large number of contracts pending sale. We also notice that the 2K - 25K price range has a relatively large inventory of properties for sale at 141 listings. The median list price (or asking price) for all properties in this market is 268,. 18 16 14 12 1 8 6 4 2 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Updated 5/6/218, RealarketReports.com K 5K 1K 15K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K 4 35 3 Sold Off-arket Sold vs. Off-arket (Last 6 mos.) Updated 5/6/218, RealarketReports.com total of 161 contracts have closed in the last 6 months with a median sold price of 191,7. Breaking it down, we notice that the 15K - 2K price range contains the highest number of sold listings. 25 2 15 1 5 K 5K 1K 15K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K lternatively, a total of 34 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 2K - 25K price range has the highest number of off-market listings at 46 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT JEFFERSON PRISH Sunday, ay 6, 218 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 52 days. nalysis of sold properties for the last six months reveals a median sold price of 191,7 and 27 days on market. Notice that properties in the K - 5K price range have sold quickest over the last six months. 1 9 8 7 6 5 4 3 2 1 K 5K Sold For Sale 1K 15K 2K 25K edian Days on arket (DO) 3K 35K Updated 5/6/218, 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 23, with a DO of 31 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 97.6%." 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 3.4 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. 25K 2K 195K 19K 185K 18K 175K edian Sold s Updated 5/6/218, RealarketReports.com Dec Jan Feb ar pr ay 4 35 3 25 2 15 1 5 edian Days on arket (Sold) Updated 5/6/218, RealarketReports.com Dec Jan Feb ar pr ay Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT JEFFERSON PRISH Sunday, ay 6, 218 RKET SURY TBLE 576 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 7 5, 99,999 54 1, 149,999 97 15, 199,999 128 2, 249,999 141 25, 299,999 115 3, 349,999 14 35, 399,999 64 4, 449,999 39 45, 499,999 35 5, 549,999 22 55, 599,999 22 6, 649,999 12 65, 699,999 9 7, + 72 921 CTIVE [1] Date Range (Off-arket & Sold) = 11/5/217 to 5/6/218 Data believed to be accurate but not guaranteed. Days on arket 11 94 Current 43,257 44, 129,796 42 129,9 52 23, Pend Ratio 5 42% 1 46 34 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 161 SOLD/CLOSED (last 6 months) [4] 78 277,394 61 291,15 282,2 273,154 58 34% 4 172 51 279, 38 289,813 279,95 27, 77 327,934 65 345,44 333,41 323,11 97% 37 26% 41 98 61 325, 46 339, 331,9 323,38 97% 92 379,953 64 396,158 382,323 37,694 97% 2 24% 27 64 57 378,5 34 393,95 379,9 369,5 97% 51 428,431 93 459,753 443,576 37 429, 66 449, 437,5 425, 97% 52 477,854 76 498,822 49,691 4 479,5 4 495, 485, 475, 98% 76 525,736 63 545,55 53,45 67 525, 63 547, 529, 523,5 99% 96 587,91 72 68,113 592,875 91 594,95 73 59, 585, 566,5 97% 93 631,48 77 657,915 635,685 65 629,5 61 645, 629, 62, 99% 7 673,989 47 697,78 697,78 34 298 286 54 669,9 17 675, 675, 66, 98% Days on arket 12 78,43 43 44% 22 174 81 79,9 24 8 79 52 79 116 51 175,814 175, 229,398 1,217,433 16 52% 4 155 55% 43 111 44% 7 15% 13 8 19% 16 4 15% 1 6 21% 8 3 2% 4 8 13 15% 21 arket Totals 921 576 38% arket verages 83 349,7 351 38 23 1 8 13 5 36 35 54,623 21 48, 45 88,237 83,137 76,845 58 19 5 Original 18,9 179,5 235,862 975, 44 9, 9, 872,5 97% 34 161 23 235, 5,841 36,731 72% 46, 4,5 13, 127,2 48 182,369 178,761 174,195 Final 23,44 Sold/ Closed - Sale Ratio 88% 92% 89, 84,95 78,555 92% 135,584 28 135, 82 1,265,136 1,214,686 55 245,448 237,935 arket edians 52 268, 27 199,975 196,45 Status = [1] ; [2] C, U; [3] X; [4] S County Or Parish = JEFFERSON Dwelling Type = SGL Favors Sellers 13,951 126,463 97% 98% 97% 174, 97% 223,27 97% 229, 22,9 96% 97% 96% 424,76 96% 471,942 96% 523,45 99% 568,25 96% 616,923 97% 668,8 96% 1,159,415 95% 229,472 96% 191,7 98% Favors Buyers Est. os. 1.2 1.9 2 2.2 3 4 6.4 6 6.2 9.1 13.2 16.5 5.5 1.8 12 3.4 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT JEFFERSON PRISH Sunday, ay 6, 218 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