ly Market Detail - 213 Summary Statistics 213 212 Paid in Cash 13,449 13,953-3.6% 1,36 11,233-7.8% New Pending Sales 19,23 16,343 17.5% 21,828 21,556 1.3% $112, $88, 27.3% Average Sale Price $195,73 $166,144 17.8% Median Days on Market 6 84-28.6% Average Percent of Original List Price Received 92.1% 9.1% 2.2% (Active Listings) 6,91 7,54-13.7% Months Supply of 5.4 6.1-1.4% The number of sales transactions which closed during 213 13,449-3.6% 212 13,953 -.1% 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 21 13,961 1,847 28.7% 24.2% 29 8,737 31.1% 28 6,665 N/A 14,5 12,5 1,5 8,5 6,5
ly Market Detail - 213 Cash Sales The number of during in which buyers exclusively paid in cash 213 1,36-7.8% 212 Cash Sales 11,233 -.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 11,31 38.9% 8,144 39.5% 5,839 56.5% 3,73 N/A Cash Sales 13,6 11,6 9,6 7,6 5,6 3,6 Cash Sales as a Percentage of The percentage of during which were Cash Sales Percent of Closed Sales Paid in Cash 213 77.% -4.3% 212 8.5% -.6% 211 81.% 7.9% 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 75.1% 12.3% 29 66.8% 19.4% 28 56.% N/A Pct. of Closed Sales Paid in Cash 85% 75% 65% 55% 45%
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 19,23 17.5% 16,343 16.4% 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 14,39 25.6% 21 11,175 23.7% 29 9,34 33.3% 28 6,775 N/A 21,6 Pending Sales 16,6 11,6 6,6 The number of properties put onto the market during 213 212 21,828 1.3% 21,556-5.5% 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 22,813-8.4% 21 24,892 8.6% 29 22,922-9.9% 28 25,447 N/A 26,4 25,4 24,4 23,4 22,4 21,4
ly Market Detail - 213 The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) 213 $112, 27.3% 212 $88, 12.8% 211 $78, -13.6% 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 $9,313-15.6% 29 $17, -26.2% 28 $145, N/A $16K $14K $12K $1K $8K $6K 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 $166,144 $195,73 17.8% 13.9% 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 $145,914-13.9% 21 $169,45 -.6% 29 $17,496-26.5% 28 $232,96 N/A Average Sale Price $25K $23K $21K $19K $17K $15K $13K
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 6-28.6% 212 84-1.6% 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 94-9.6% 21 14-15.4% 29 123-1.9% 28 138 N/A Median Days on Market 15 1 5 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 9.1% 92.1% 2.2% 3.3% 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 87.2% 2.3% 21 85.2% 4.9% 29 81.2% 1.5% 28 8.% N/A Avg. Pct. of Orig. List Price Received 95% 9% 85% 8% 75%
ly Market Detail - 213 (Active Listings) The number of property listings active at the end of 212 7,54 213 6,91-13.7% -37.% 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 calculation for the following year. 211 11,199-24.5% 21 14,825 -.1% 29 14,838-7.4% 28 16,28 N/A 17,9 15,9 13,9 11,9 9,9 7,9 5,9 Months Supply of An estimate of the number of months it will take to deplete the current given recent sales rates 213 Months Supply 5.4-1.4% 212 6.1-37.% 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. 211 9.6-41.3% 21 16.4-19.5% 29 2.4-29.4% 28 28.9 N/A Months Supply of 34. 29. 24. 19. 14. 9. 4.
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. Sale Price Less than $5, 2,4-27.1% $5, - $99,999 3,776-12.9% $1, - $149,999 2,357 3.6% $15, - $199,999 1,476 13.6% $2, - $249,999 858 21.4% $25, - $299,999 592 18.2% $3, - $399,999 717 46.% $4, - $599,999 56 2.7% $6, - $999,999 426 19.7% $1,, or more 287 23.7% 4, 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 4, 3,5 3, 2,5 2, 1,5 1, 5 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. Sale Price $5, - $99,999 48-29.4% $1, - $149,999 Median Days on Market Less than $5, 63-18.2% 45-42.3% $15, - $199,999 54-42.6% $2, - $249,999 65-42.% $25, - $299,999 86-2.4% $3, - $399,999 91-37.7% $4, - $599,999 121-16.% $6, - $999,999 139-9.7% $1,, or more 13-24.% Median Days on Market 16 14 12 1 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 16 14 12 1 8 6 4 2
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. Initial Listing Price Less than $5, 3,218-26.3% $5, - $99,999 5,654-8.2% $1, - $149,999 3,71 16.4% $15, - $199,999 2,41 14.% $2, - $249,999 1,587 36.% $25, - $299,999 1,169 14.3% $3, - $399,999 1,364 29.% $4, - $599,999 1,177 8.3% $6, - $999,999 873 9.1% $1,, or more 666 11.6% 6, 6, 5, 4, 3, 2, 1, 5, 4, 3, 2, 1, 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 calculation for the following year. Current Listing Price Less than $5, 745-29.8% $5, - $99,999 1,193-17.1% $1, - $149,999 776-7.2% $15, - $199,999 579-11.5% $2, - $249,999 465.4% $25, - $299,999 411-2.6% $3, - $399,999 533-15.% $4, - $599,999 545-12.2% $6, - $999,999 454-12.2% $1,, or more 39-5.6% 1,4 1,2 1, 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 1,4 1,2 1, 8 6 4 2
ly Market Detail - 213 213 212 Traditional 1,796 1,61 1.8% $127,5 $97,5 3.8% Foreclosure/REO 1,397 1,294 8.% $8, $65,5 22.1% Short Sale 1,256 2,49-38.7% $85,5 $78, 9.6% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $16, Traditional Foreclosure/REO Short Sale $14, $12, $1, $8, $6, $4, $2, $