ly Market Detail - December 16 Summary Statistics December 16 December 1 Paid in Cash 1.% N/A $6, $67, -3.7% Average Sale Price Dollar Volume $18,1 $67, 89.8% $6, $13, 37.% Median Percent of Original List Price Received 87.7% 71.% 3.% Median Time to Contract 117 Days 13 Days -11.% Median Time to Sale 1 Days 18 Days -3.8% New Pending Sales New Listings 3 33.3%.% Pending Inventory Inventory (Active Listings) 9 s Supply of Inventory 13.7 -.% 33 8.% 6. 11.% 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 comparing the percent changes in sales rather than the number of sales. (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. December 16 1.% November 16-71.% October 16 3-66.7% September 16 1-66.7% August 16 7 7.% July 16 1-8.% June 16 1-83.3% May 16.% April 16 3-7.1% March 16 7 -.% February 16 33.3% January 16.% December 1 -.% 1 8 6 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - December 16 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 December 16 N/A November 16-66.7% October 16-7.% September 16 1 -.% August 16 1.% July 16 1-66.7% June 16 1 -.% May 16 3 -.% April 16 1-7.% March 16 6 1.% February 16 3.% January 16 33.3% December 1 N/A 1 8 6 1 13 1 1 16 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 December 16 1.% N/A November 16 1.% 16.7% October 16 66.7% -.% September 16 1.% 9.9% August 16 7.1% 1.% July 16 1.% 66.7% June 16 1.%.3% May 16 6.% -.% April 16 33.3% -1.7% March 16 8.7% 17.% February 16 7.% 1.% January 16 1.% 33.3% December 1.% N/A 1% 1% 8% 6% % % % 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Average Sale Price ly Market Detail - December 16 The median sale price reported for (i.e. % of sales were above and % 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. Keep in mind that median price trends over time are not always solely caused by changes in the general value of local real estate. Median sale price only reflects the values of the homes that sold each month, and the mix of the types of homes that sell can change over time. December 16 $6, -3.7% November 16 $68,7 67.7% October 16 $118, 7.7% September 16 $66, 1.% August 16 $, -9.1% July 16 $1, -78.% June 16 $6, -.9% May 16 $8, -.% April 16 $13, 136.% March 16 $, 6.7% February 16 $, -6.3% January 16 $8,9 9.% December 1 $67, 8.1% $K $1K $1K $K $K 1 13 1 1 16 Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) Economists' note : Usually, 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 December 16 $18,1 89.8% November 16 $68,7 3.% October 16 $11,667 18.% September 16 $66, 39.% August 16 $63,99 -.6% July 16 $1, -73.1% June 16 $6, -13.% May 16 $9,9 3.8% April 16 $1,833 9.7% March 16 $68,13 36.1% February 16 $9,7-7.3% January 16 $,67.1% December 1 $67, -.% $K $K $1K $1K $K $K 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Med. Pct. of Orig. List Price Received Dollar Volume ly Market Detail - December 16 Dollar Volume The sum of the sale prices for all sales which closed during Economists' note : Dollar Volume is simply the sum of all sale prices in a given time period, and can quickly be calculated by multiplying by Average Sale Price. It is a strong indicator of the health of the real estate industry in a market, and is of particular interest to real estate professionals, investors, analysts, and government agencies. Potential home sellers and home buyers, on the other hand, will likely be better served by paying attention to trends in the two components of Dollar Volume (i.e. sales and prices) individually. Dollar Volume December 16 $6, 37.% November 16 $137, -6.8% October 16 $3,1-6.6% September 16 $66, -3.% August 16 $7,3 67.% July 16 $1, -9.6% June 16 $6, -8.6% May 16 $99, 3.8% April 16 $377,99-18.3% March 16 $77,1.9% February 16 $37,1-63.1% January 16 $1,7.1% December 1 $13, -.% $1 M $8, $6, $, $, $ 1 13 1 1 16 Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during Economists' note : The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically 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 has shifted from down to up, so it is what we would call a December 16 87.7% 3.% November 16 9.% 3.1% October 16 9.8% -1.% September 16 1.% 66.% August 16 88.% 1.% July 16 1.%.% June 16 7.6% -.% May 16 9.6% 3.1% April 16 89.1% 17.% March 16 91.1% 1.% February 16 89.%.3% lagging indicator. January 16 1.% 9.9% December 1 71.% -1.6% Med. Pct. of Orig. List Price Received 1% 1% 8% 6% % % % 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Median Time to Sale Median Time to Contract ly Market Detail - December 16 Median Time to Contract The median number of days between the listing date and contract date for all during Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. Median Time to Contract December 16 117 Days -11.% November 16 89 Days -.6% October 16 3 Days -6.% September 16 6 Days -1.9% August 16 3 Days -8.6% July 16 97 Days 38.9% June 16 36 Days 713.8% May 16 37 Days 31.7% April 16 8 Days 17.1% March 16 8 Days -1.% February 16 3 Days -88.8% January 16 1 Days -9.% December 1 13 Days 16.8% 8 1 13 1 1 16 6 Median Time to Sale The median number of days between the listing date and closing date for all during Economists' note : Time to Sale is a measure of the length of the home selling process, calculated as the number of days between the initial listing of a property and the closing of the sale. Median Time to Sale is the amount of time the "middle" property selling this month was on the market. That is, % of homes selling this month took less time to sell, and % of homes took more time to sell. Median Time to Sale gives a more accurate picture than Average Time to Sale, which can be skewed upward by small numbers of properties taking an abnormally long time to sell. Median Time to Sale December 16 1 Days -3.8% November 16 1 Days -3.8% October 16 6 Days -9.% September 16 98 Days -33.8% August 16 9 Days -1.1% July 16 16 Days 1.3% June 16 313 Days 6.% May 16 371 Days 8.8% April 16 31 Days 86.3% March 16 8 Days -39.1% February 16 7 Days -78.9% January 16 8 Days -7.% December 1 18 Days -8.% 8 6 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
New Listings Pending Sales ly Market Detail - December 16 New Pending Sales The number of listed properties that went under contract 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. New Pending Sales December 16 33.3% November 16 3 -.% October 16-66.7% September 16-16.7% August 16-1.% July 16.% June 16 -.% May 16-6.% April 16 6.% March 16 3-66.7% February 16 8-11.1% January 16-6.% December 1 3.% 1 1 13 1 1 16 1 New Listings The number of properties put onto the market during Economists' note : New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. New Listings December 16.% November 16 7 133.3% October 16 9 8.% September 16 6-33.3% August 16 11 1.% July 16 7 -.% June 16 11 1.% May 16 7 -.% April 16 6 -.% March 16 6 1.% February 16 9 8.6% January 16 8-38.% December 1 -.% 1 13 1 1 16 1 1 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
s Supply of Inventory Inventory ly Market Detail - December 16 Inventory (Active Listings) The number of property listings active at the end of Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. Inventory December 16 9 8.% November 16.% October 16 1 1.% September 16 1.% August 16 1.% July 16-13.7% June 16-13.% May 16 39-1.% April 16 37 -.9% March 16 38 -.% February 16 36-3.1% January 16 36-3.7% December 1 33-3.% 8 1 13 1 1 16 6 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 : MSI is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyer nor seller) is. months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market. There is no single accepted way of calculating MSI. A common method is to divide current Inventory by the most recent month's count, but this count is a usually poor predictor of future due to seasonal cycles. To eliminate seasonal effects, we use the 1-month average of monthly instead. s Supply December 16 13.7 11.% November 16 16. 19.% October 16 13.6 7.% September 16 1. 1.% August 16 11. 1.% July 16 1.6 1.8% June 16 1. -1.% May 16 7.9-1.% April 16 7. -19.% March 16 7. -31.% February 16 6.6 -.% January 16 6.8-3.3% December 1 6. -3.1%. 3.. 1.. 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Median Time to Contract ly Market Detail - December 16 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 comparing the percent changes in sales rather than the number of sales. (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. December 1 December 16 Sale Price Less than $, 1 N/A $, - $99,999.% $1, - $19,999 1 N/A $1, - $199,999 N/A $, - $9,999 N/A $, - $99,999 N/A $3, - $399,999 1 N/A $, - $99,999 N/A $6, - $999,999 N/A $1,, or more N/A 3 1 3 1 Less than $, $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 $3, - $399,999 $, - $99,999 $6, - $999,999 $1,, or more Median Time to Contract by Sale Price The median number of days between the listing date and contract date for all during Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. 3 3 1 1 Less than $, December 1 December 16 $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 Sale Price $, - $99,999 33 Days 76.% $1, - $19,999 Median Time to Contract Less than $, 11 Days N/A 37 Days N/A $1, - $199,999 (No Sales) N/A $, - $9,999 (No Sales) N/A $, - $99,999 (No Sales) N/A $3, - $399,999 9 Days N/A $, - $99,999 (No Sales) N/A $6, - $999,999 (No Sales) N/A $1,, or more (No Sales) N/A $3, - $399,999 $, - $99,999 $6, - $999,999 $1,, or more 3 3 1 1 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
Inventory New Listings ly Market Detail - December 16 New Listings by Initial Listing Price The number of properties put onto the market during Economists' note: New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. December 1 December 16 Initial Listing Price New Listings Less than $, 1.% $, - $99,999 1.% $1, - $19,999.% $1, - $199,999 N/A $, - $9,999 N/A $, - $99,999 N/A $3, - $399,999 N/A $, - $99,999 N/A $6, - $999,999 N/A $1,, or more N/A 3 1 3 1 Less than $, $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 $3, - $399,999 $, - $99,999 $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 define and calculate Inventory. Our method is to simply count the number of active listings on the last day of, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. 1 1 December 1 December 16 Current Listing Price Inventory Less than $, 8 1.% $, - $99,999 19 3.7% $1, - $19,999 1.6% $1, - $199,999.% $, - $9,999 1 N/A $, - $99,999-1.% $3, - $399,999 1 N/A $, - $99,999 N/A $6, - $999,999 1.% $1,, or more N/A 1 1 Less than $, $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 $3, - $399,999 $, - $99,999 $6, - $999,999 $1,, or more Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.
ly Distressed Market - December 16 December 16 December 1 Traditional 1.% $11, $67,.% Foreclosure/REO 1 N/A $3, (No Sales) N/A Short Sale N/A (No Sales) (No Sales) N/A 1% 9% 8% 7% 6% % % 3% % 1% % $18, 1 13 1 1 16 Traditional Foreclosure/REO Short Sale $16, $1, $1, $1, $8, $6, $, $, $ 1 13 1 1 16 Produced by Florida REALTORS with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 1th day of the following month. Data released on Tuesday, January, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, February, 17.