REL ESTTE RKET REPORT BOZEN CITY (CONDO/TH) Su Tu W Th F Sa 4 5 6 7 Sunday, July 8 9 4 5 6 7 8 9 4 5 6 7 8 9 8 TBLE OF CONTENTS Charts and Commentary.. Pages - arket Summary Table.. Page Glossary... Page 4 Bozeman ontana Real Estate Durston Ste 4 Bozeman, ontana 5978 BozemanontanaRealEstate.net LuxuryHomesinBozeman.com closings.bmre@gmail.com 469 46556788 https://www.facebook.com/bozemanrealuxuryhomes/ https://www.linkedin.com/in/bozemanmontanarealtor? https://twitter.com/homesinbozeman https://www.youtube.com/watch?v=pbcussrs Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT BOZEN CITY (CONDO/TH) Sunday, July, 8 Let's take a look at the real estate market. Currently there are 4 sales pending in the market overall, leaving 79 listings still for sale. The resulting pending ratio is 56.8% (4 divided by 8). 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 active." Bozeman ontana Real Estate 469 Taking a closer look, we notice that the K - K price range has a relatively large number of contracts pending sale. We also notice that the K - 4K price range has a relatively large inventory of properties for sale at listings. The median list price (or asking price) for all properties in this market is 65,. 6 5 4 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Updated 7//8, RealarketReports.com Copyright Bozeman ontana Real Estate K K K K 4K 5K 6K 7K 8K 9K.....4 4 8 6 4 K Off-arket K K K 4K vs. Off-arket (Last 6 mos.) 5K 6K 7K Updated 7//8, RealarketReports.com Copyright Bozeman ontana Real Estate 8K 9K.....4 total of 4 contracts have closed in the last 6 months with a median sold price of 9,6. Breaking it down, we notice that the K - K price range contains the highest number of sold listings. lternatively, a total of 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 K - K price range has a high number of off-market listings at 4 properties. Real arket Reports www.realarketreports.com arket Dashboard
REL ESTTE RKET REPORT BOZEN CITY (CONDO/TH) Sunday, July, 8 Bozeman ontana Real Estate 469 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 5 days. nalysis of sold properties for the last six months reveals a median sold price of 9,6 and 4 days on market. Notice that properties in the 7K - 8K price range have sold quickest over the last six months. 4 5 5 5 5 K K For Sale K K 4K 5K edian Days on arket (DO) 6K 7K Updated 7//8, RealarketReports.com Copyright Bozeman ontana Real Estate 8K 9K.....4 The recent history of sales can be seen in the two charts below. The median sold price for the last days was 94,9 with a DO of 7 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.8%." 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. 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. K 5K K 95K 9K 85K 8K 75K 7K 65K edian s Copyright Bozeman ontana Real Estate Updated 7//8, RealarketReports.com Feb ar pr ay Jun Jul 45 4 5 5 5 5 edian Days on arket () Copyright Bozeman ontana Real Estate Updated 7//8, RealarketReports.com Feb ar pr ay Jun Jul Real arket Reports www.realarketreports.com arket Dashboard
REL ESTTE RKET REPORT BOZEN CITY (CONDO/TH) Sunday, July, 8 Bozeman ontana Real Estate 469 RKET SURY TBLE 4 PENDING [] = verage Value = edian Value N/ = Not vailable Low Range High 79 CTIVE [] Days on arket Current Pend Ratio OFF-RKET (last 6 mos) [] BSORPTION RTE (months of inventory) 4 SOLD/CLOSED (last 6 months) [4] Days on arket Original Final / Closed - Sale Ratio Est. os. 99,999, 99,999 4 N/, 99,999 5, 99,999 4, 499,999 5, 599,999 5 6, 699,999 7, 799,999 9 9 5 8 58,9 4 7, 4,54 9,5 4, 79 4,5 48 564, 4 58,95 58,95 578, 49 585,8 8 666, 5 699, 49 77% 4 4 57% 4 5 % 4% 9 68 6 9 9,77 89,68 87, 99% 4 9, 9, 9, % 6,545 59,95 6,5 59,45 % 65, 65, 4, 99% 7 589, 589, 577,5 659,7 66,5 98% 749, % 749, 749, 749, % % 68 7,89 7,7 5,8 99% 4 87,5 8,5 5 4, 7 444,448 685,494 44,448 48,45 4,5 98% 68,586 67 675, 675, 749, 749, 47,7 99% 99% 98% 97% N/.8.9 6 5 N/ 8, 899,999 9, 999,999 5 949,9 5% 8 98, 98, 95, 96% 5 949,9 8 98, 98, 95, 96%,,,99,999,,,99,999,,,99,999,,,99,999,4, + arket verages 4 48,96 Date Range (Off-arket & ) = //7 to 7//8 Data believed to be accurate but not guaranteed.,,,695,,695, arket Totals 79 4 57% 6 6,, 4 arket edians 5 65, 4 9, 9,5 Status = [] ctive; [] Contingent Backups OK, Contingent Backups Wanted, Under Contract; [] Withdrawn Still on arket, Expired, Cancelled/Terminated; [4] City = Bozeman PropertySubType = Condominium, Townhouse 4,95,,95, 4,5,,5,,5,5,7,45,5,5 6 4,44 44,664,95, 9% 4,95,,95,,95, 9%,, 96% 4,5,,5,,, 96% Favors Sellers,786,45 5%,7,45,786,45 5% 4,6 99% 9,6 % Favors Buyers N/ N/ Real arket Reports www.realarketreports.com arket Summary Table
REL ESTTE RKET REPORT BOZEN CITY (CONDO/TH) Sunday, July, 8. 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.. CONTRCTS PENDING Bozeman ontana Real Estate 469 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. 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 : 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. /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 = 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 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