ly Market Detail - June 215 Summary Statistics June 215 June 214 Paid in Cash 86 87-1.1% 57 66-13.6% New Pending Sales 58 7-17.1% 8 86-7.% $135,25 $13, 4.% Average Sale Price $183,593 $165,18 11.2% Median Days on Market 61 64-4.7% Average Percent of Original List Price Received 93.4% 91.7% 1.9% Pending Inventory Inventory (Active Listings) 79 427 11-21.8% 52-17.9% s Supply of Inventory 4.7 5.8-19.5% 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 month-to-month comparisons of because of potential seasonal effects. June 215 86-1.1% May 215 12-1.9% April 215 156 March 215 139 February 215 98 January 215 57 December 214 97 November 214 58 October 214 73 September 214 72 August 214 74 July 214 79 June 214 87 2.% 14.9% 27.3% -23.% 38.6% -23.7% -6.4% 1.4% -17.8% -14.1% -6.5% 2 15 1 5 Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - June 215 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 June 215 57-13.6% May 215 7-1.4% April 215 116 13.7% March 215 1 8.7% February 215 86 24.6% January 215 45-21.1% December 214 66 26.9% November 214 38-33.3% October 214 47-28.8% September 214 56 9.8% August 214 5-24.2% July 214 63-13.7% June 214 66-5.7% 15 1 5 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 June 215 66.3% -12.6% May 215 68.6%.5% April 215 74.4% -5.2% March 215 71.9% -5.4% February 215 87.8% -2.1% January 215 78.9% 2.5% December 214 68.% -8.4% November 214 65.5% -12.6% October 214 64.4% -23.9% September 214 77.8% 8.3% August 214 67.6% -7.9% July 214 79.7%.5% June 214 75.9%.8% 14% 94% 84% 74% 64% 54% Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Pending Sales ly Market Detail - June 215 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. June 215 May 215 April 215 March 215 129 February 215 136 January 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 New Pending Sales 58 77 14 112 62 68 79 6 72 84 7-17.1% -13.5% 1.% -15.7% 43.2% -1.8% -1.1% 3.% 6.8% -3.2% -4.% -13.4% -19.5% 2 15 1 5 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. June 215 May 215 April 215 March 215 February 215 January 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 8 81 14 135 133 181 13 17 123 9 93 75 86-7.% -15.6% -42.2% 11.6% 4.7% 11.7% -4.6% -5.3% 1.8% -14.3% -2.5% -23.5% -3.4% 2 15 1 5 Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Average Sale Price ly Market Detail - June 215 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. June 215 $135,25 4.% May 215 $168,4 21.2% April 215 $148,7 11.% March 215 $145, 25.5% February 215 $122,5 4.8% January 215 $139,5 44.2% December 214 $136, -1.4% November 214 $14, 36.6% October 214 $137,5 25.1% September 214 $114, 2.% August 214 $113,5-5.8% July 214 $113, 13.6% June 214 $13, 7.% $2K $15K $1K $5K 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 June 215 $183,593 11.2% May 215 $235,669 27.1% April 215 $188,725 8.7% March 215 $18,3 15.3% February 215 $14,12 7.2% January 215 $194,243 44.4% December 214 $18,37 1.2% November 214 $178,924 36.8% October 214 $165,46 22.8% September 214 $131,285-4.5% August 214 $157,498 4.7% July 214 $141,61-13.8% June 214 $165,18 3.7% $28K $23K $18K $13K $8K Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - June 215 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 this month was on the market. That is, 5% of homes selling this month 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 June 215 61-4.7% May 215 62-3.1% April 215 48-28.4% March 215 55.% February 215 74 34.5% January 215 66-2.5% December 214 49-38.% November 214 46-34.3% October 214 5-18.% September 214 63-39.4% August 214 86-18.1% July 214 7-24.7% June 214 64-31.9% 2 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 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 June 215 93.4% 1.9% May 215 91.6%.2% April 215 93.4% 1.9% March 215 93.%.8% February 215 91.1% -1.3% January 215 91.5% 1.6% December 214 92.2% 1.1% November 214 92.9% 3.% October 214 92.6% -.6% September 214 93.5% 3.3% August 214 89.8% -.4% July 214 91.7% 2.6% June 214 91.7% 1.4% 95% 9% 85% 8% 75% Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
s Supply of Inventory Inventory ly Market Detail - June 215 Inventory (Active Listings) 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 month the following year. Inventory June 215 427-17.9% May 215 445-18.3% April 215 476-17.5% March 215 521-4.9% February 215 542-12.3% January 215 577-4.6% December 214 521-12.% November 214 511-13.2% October 214 466-14.2% September 214 424-22.9% August 214 412-25.8% July 214 419-24.% June 214 52-12.9% 1,3 1,1 9 7 5 3 s Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory 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 s of Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. s Supply June 215 4.7-19.5% May 215 4.9-19.5% April 215 5.2-18.3% March 215 5.9-3.5% February 215 6.2-1.6% January 215 6.7 -.3% December 214 6. -1.6% November 214 6. -8.8% October 214 5.4-11.6% September 214 4.9-22.2% August 214 4.7-24.9% July 214 4.8-26.3% June 214 5.8-18.5% 23. 18. 13. 8. 3. Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Median Days on Market ly Market Detail - June 215 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 month-to-month comparisons of because of potential seasonal effects. 25 2 15 1 5 June 214 June 215 Sale Price Less than $5, 4-6.% $5, - $99,999 2-9.1% $1, - $149,999 22 1.% $15, - $199,999 16 1.% $2, - $249,999 7-22.2% $25, - $299,999 6 2.% $3, - $399,999 4-42.9% $4, - $599,999 5.% $6, - $999,999 2 1.% $1,, or more N/A 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 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 month was on the market. That is, 5% of homes selling this month 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. 25 June 214 June 215 Sale Price $5, - $99,999 65 8.3% $1, - $149,999 Median Days on Market Less than $5, 31-63.1% 45-8.2% $15, - $199,999 7 94.4% $2, - $249,999 11.% $25, - $299,999 15 1.% $3, - $399,999 129 51.8% $4, - $599,999 3-85.6% $6, - $999,999 222 11.% $1,, or more (No Sales) N/A 25 2 15 1 5 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 Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
Inventory ly Market Detail - June 215 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 June 214 June 215 Initial Listing Price Less than $5, 4.% $5, - $99,999 2-13.% $1, - $149,999 18 28.6% $15, - $199,999 8-27.3% $2, - $249,999 12-33.3% $25, - $299,999 2-71.4% $3, - $399,999 6.% $4, - $599,999 1 4.% $6, - $999,999-1.% $1,, or more N/A 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 month the following year. 1 8 6 4 2 June 214 June 215 Current Listing Price Inventory Less than $5, 16-27.3% $5, - $99,999 62-29.5% $1, - $149,999 67 15.5% $15, - $199,999 47-39.7% $2, - $249,999 52-25.7% $25, - $299,999 53-3.6% $3, - $399,999 5-29.6% $4, - $599,999 55 1.9% $6, - $999,999 16-5.9% $1,, or more 9 28.6% 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 Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.
ly Distressed Market - June 215 June 215 June 214 Traditional 81 78 3.8% $145, $132, 9.8% Foreclosure/REO 4 9-55.6% $71,75 $87,5-18.% Short Sale 1 N/A $22, (No Sales) N/A 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $25, Traditional Foreclosure/REO Short Sale $2, $15, $1, $5, $ Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.