ly Market Detail - 213 Summary Statistics 213 212 Paid in Cash 1,195 1,44 14.5% 86 795 8.2% New Pending Sales 1,473 1,14 29.2% 1,832 1,716 6.8% $, $87, 14.9% Average Sale Price $138,867 $123,76 12.3% Median Days on Market 68 85-2.% Average Percent of Original List Price Received 89.9% 86.9% 3.5% Inventory (Active Listings) 623 755-17.5% Months Supply of Inventory 6.3 8.7-27.9% The number of sales transactions which closed during 213 1,195 14.5% 212 1,44 5.2% 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 21 992 969 2.4% 32.6% 29 731 58.9% 28 46 N/A 1,3 1, 9 7 5 3 Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - 213 Cash Sales The number of during in which buyers exclusively paid in cash 213 86 8.2% 212 Cash Sales 795 3.8% 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 28 766 7.6% 712 45.3% 49 92.9% 254 N/A 9 7 5 3 Cash Sales as a Percentage of The percentage of during which were Cash Sales Percent of Closed Sales Paid in Cash 213 72.% -5.5% 212 76.1% -1.4% 211 77.2% 5.1% 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 73.5% 9.6% 29 67.% 21.4% 28 55.2% N/A 85% 75% 65% 55% 45% Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Pending Sales 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 1,473 29.2% 1,14 15.% 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. 211 991 1.8% 21 973 25.7% 29 774 66.5% 28 465 N/A 1,8 1,3 8 3 The number of properties put onto the market during 213 212 1,832 6.8% 1,716 1.% 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 1,699-15.9% 21 2,21 14.1% 29 1,772-8.3% 28 1,933 N/A 2, 2, 1,9 1,8 1,7 1,6 1,5 Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Average Sale Price ly Market Detail - 213 The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) 213 $, 14.9% 212 $87, 3.9% 211 $83,75-2.6% 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 $86, -9.5% 29 $95, -26.9% 28 $13, N/A $15K $13K $11K $9K $7K 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 $123,76 $138,867 12.3% 5.4% 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 $117,383-5.8% 21 $124,659-15.9% 29 $148,167-19.6% 28 $184,369 N/A $2K $18K $16K $14K $12K $K Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Avg. Pct. of Orig. List Price Received Median Days on Market 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 68-2.% 212 85-13.3% 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 98 11.4% 21 88-22.1% 29 113-8.1% 28 123 N/A 15 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 86.9% 89.9% 3.5% 2.6% 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 84.7% -.5% 21 85.1% 2.9% 29 82.7% 3.2% 28 8.1% N/A 95% 9% 85% 8% 75% Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Months Supply of Inventory Inventory ly Market Detail - 213 Inventory (Active Listings) The number of property listings active at the end of Inventory 212 755 213 623-17.5% -17.% 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 calculation for the following year. 211 91-17.3% 21 1,.4% 29 1,96-15.1% 28 1,291 N/A 1,5 1,3 1, 9 7 5 Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates 213 Months Supply 6.3-27.9% 212 8.7-21.2% 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 Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. 211 11. -19.2% 21 13.6-24.3% 29 18. -46.6% 28 33.7 N/A 45. 35. 25. 15. 5. Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
Median Days on Market 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. 5 4 3 2 Sale Price Less than $5, 153-22.3% $5, - $99,999 437 7.1% $, - $149,999 253 36.% $15, - $199,999 147 19.5% $2, - $249,999 73 65.9% $25, - $299,999 33 26.9% $3, - $399,999 58 163.6% $4, - $599,999 19-17.4% $6, - $999,999 16 6.% $1,, or more 6 2.% 5 4 3 2 Less than $5, $5, - $99,999 $, - $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 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. 25 Sale Price $5, - $99,999 6-18.9% $, - $149,999 Median Days on Market Less than $5, 73-8.8% 56-34.9% $15, - $199,999 76-25.5% $2, - $249,999 57-25.% $25, - $299,999 71-59.9% $3, - $399,999 134-3.2% $4, - $599,999 148-35.7% $6, - $999,999 19-57.9% $1,, or more 194-64.% 25 2 15 5 2 15 5 Less than $5, $5, - $99,999 $, - $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 Tuesday, February 11, 214. Next yearly data release is TBD.
Inventory 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, 179-22.8% $5, - $99,999 593 1.5% $, - $149,999 434 31.9% $15, - $199,999 228 3.2% $2, - $249,999 144 17.1% $25, - $299,999 79 19.7% $3, - $399,999 96 31.5% $4, - $599,999 48-4.% $6, - $999,999 29 11.5% $1,, or more 2-83.3% 7 6 5 4 3 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 7 6 5 4 3 2 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 calculation for the following year. Current Listing Price Inventory Less than $5, 53 6.% $5, - $99,999 155-18.8% $, - $149,999 136-9.3% $15, - $199,999 8-33.9% $2, - $249,999 57-12.3% $25, - $299,999 44 2.3% $3, - $399,999 44-8.3% $4, - $599,999 31-32.6% $6, - $999,999 23-11.5% $1,, or more -.% 18 16 14 12 8 6 4 2 Less than $5, $5, - $99,999 $, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 18 16 14 12 8 6 4 2 Data released on Tuesday, February 11, 214. Next yearly data release is TBD.
ly Market Detail - 213 213 212 Traditional 1,34 857 2.7% $19,5 $9, 21.7% Foreclosure/REO 82 68 2.6% $75, $64,5 16.3% Short Sale 79 119-33.6% $8, $8,.% % 9% 8% 7% 6% 5% 4% 3% 2% 1% % $16, Traditional Foreclosure/REO Short Sale $14, $12, $, $8, $6, $4, $2, $ Data released on Tuesday, February 11, 214. Next yearly data release is TBD.