ly Market Detail - June 215 Summary Statistics June 215 June 214 Paid in Cash 1,132 896 26.3% 831 691 2.3% New Pending Sales 1,72 961 11.6% 1,419 1,249 13.6% $55, $5, 1.% Average Sale Price $65,297 $6,496 7.9% Median Days on Market 57 78-26.9% Average Percent of Original List Price Received 89.3% 85.7% 4.2% Pending Inventory Inventory (Active Listings) 1,473 5,779 1,363 8.1% 6,751-14.4% s Supply of Inventory 5.8 7.5-22.2% 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 1,132 26.3% May 215 1,57-2.4% April 215 1,313 March 215 1,247 February 215 963 January 215 88 December 214 973 November 214 77 October 214 962 September 214 868 August 214 857 July 214 846 June 214 896 6.2% 2.2% 2.3% 21.4% 7.8% -1.7% 2.1% 17.9% 16.4% 16.5% 14.7% 1,5 211 212 213 214 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 215 831 2.3% May 215 89-3.9% April 215 1,19-1.8% March 215 994.2% February 215 77-2.4% January 215 73 21.9% December 214 754 7.3% November 214 64-4.4% October 214 738 19.% September 214 676 19.2% August 214 651 16.5% July 214 662 18.6% June 214 691 13.1% 1,2 1, 8 6 4 2 211 212 213 214 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 73.4% -4.8% May 215 76.5% -1.6% April 215 77.6% -7.6% March 215 79.7% -2.% February 215 8.% -4.6% January 215 83.%.4% December 214 77.5% -.5% November 214 78.4% -2.8% October 214 76.7% -.9% September 214 77.9% 1.1% August 214 76.%.% July 214 78.3% 1.8% June 214 77.1% -1.4% 88% 83% 78% 73% 68% 63% 211 212 213 214 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 1,436 February 215 1,331 January 215 December 214 November 214 October 214 September 214 August 214 July 214 June 214 New Pending Sales 1,72 1,11 1,351 1,248 889 959 1,5 925 1,7 99 961 11.6% 4.9% 13.5% -1.7% 5.7% 1.% 1.% 4.7% 1.9% 11.7% 2.2% 11.1% 17.2% 2, 211 212 213 214 1,5 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 1,419 1,36 1,574 1,625 1,538 1,663 1,112 1,248 1,56 1,497 1,368 1,351 1,249 13.6%.5% 6.% 6.1% -2.9% -1.8% -16.2% -16.4% -5.5% 6.4% 2.2% -1.5% 7.1% 2, 211 212 213 214 1,5 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 $55, 1.% May 215 $55, 1.2% April 215 $58, 16.% March 215 $56, 5.7% February 215 $52,5 12.2% January 215 $5, 6.% December 214 $54, 8.2% November 214 $53, 7.7% October 214 $5,61.1% September 214 $5, 2.% August 214 $5, 5.3% July 214 $5, 1.1% June 214 $5, 1.4% $6K $55K $5K $45K $4K $35K $3K 211 212 213 214 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 $65,297 7.9% May 215 $67,43 9.8% April 215 $66,215 8.9% March 215 $67,372 9.9% February 215 $64,71 18.8% January 215 $61,742 1.3% December 214 $64,27 6.% November 214 $64,3 9.7% October 214 $66,13 8.4% September 214 $6,316 3.5% August 214 $61,76 4.9% July 214 $6,5 1.9% June 214 $6,496 3.9% $7K $6K $5K $4K $3K 211 212 213 214 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 57-26.9% May 215 62-2.5% April 215 57-26.% March 215 66-23.3% February 215 77-14.4% January 215 74-14.9% December 214 62-16.2% November 214 61-25.6% October 214 84 6.3% September 214 73-21.5% August 214 91 7.1% July 214 81-1.% June 214 78-7.1% 15 211 212 213 214 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 89.3% 4.2% May 215 87.9% 2.2% April 215 88.1% 3.% March 215 87.9% 2.8% February 215 87.1% 2.2% January 215 86.9% 2.2% December 214 86.7%.7% November 214 87.8% 2.9% October 214 86.7%.8% September 214 86.8% 2.7% August 214 85.9% 1.1% July 214 87.1% 3.% June 214 85.7%.2% 95% 211 212 213 214 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 5,779-14.4% May 215 5,732-17.4% April 215 5,931-15.7% March 215 6,147-15.5% February 215 6,326-17.6% January 215 6,435-17.8% December 214 6,294-21.2% November 214 6,564-19.8% October 214 6,737-17.% September 214 6,659-15.8% August 214 6,611-13.6% July 214 6,616-13.% June 214 6,751-9.5% 12, 1, 8, 6, 4, 2, 211 212 213 214 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 5.8-22.2% May 215 5.9-24.3% April 215 6.1-23.8% March 215 6.4-24.4% February 215 6.6-27.9% January 215 6.7-28.6% December 214 6.6-3.8% November 214 7. -3.5% October 214 7.1-29.% September 214 7.2-28.5% August 214 7.2-27.1% July 214 7.3-26.4% June 214 7.5-23.6% 24. 19. 14. 9. 4. 211 212 213 214 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. 6 5 4 3 2 1 Less than $5, June 214 June 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 47 9.% $5, - $99,999 491 39.5% $1, - $149,999 121 51.3% $15, - $199,999 33 26.9% $2, - $249,999 7 133.3% $25, - $299,999 5 4.% $3, - $399,999 5 N/A $4, - $599,999-1.% $6, - $999,999 N/A $1,, or more N/A $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 6 5 4 3 2 1 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. 2 June 214 June 215 Sale Price $5, - $99,999 51-31.1% $1, - $149,999 Median Days on Market Less than $5, 58-23.7% 67-4.2% $15, - $199,999 71-45.4% $2, - $249,999 83-35.7% $25, - $299,999 139-22.3% $3, - $399,999 54 N/A $4, - $599,999 (No Sales) N/A $6, - $999,999 (No Sales) N/A $1,, or more (No Sales) N/A 2 15 1 5 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. 7 6 5 4 3 2 1 Less than $5, June 214 June 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 446 -.9% $5, - $99,999 638 21.8% $1, - $149,999 214 23.7% $15, - $199,999 73 43.1% $2, - $249,999 26 3.% $25, - $299,999 1-41.2% $3, - $399,999 12 3.% $4, - $599,999-1.% $6, - $999,999-1.% $1,, or more -1.% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 7 6 5 4 3 2 1 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. 3,5 3, 2,5 2, 1,5 1, 5 Less than $5, June 214 June 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Current Listing Price Inventory Less than $5, 1,555-22.4% $5, - $99,999 2,515-16.7% $1, - $149,999 956 -.9% $15, - $199,999 415-1.2% $2, - $249,999 134-2.2% $25, - $299,999 7-15.7% $3, - $399,999 78 16.4% $4, - $599,999 39 8.3% $6, - $999,999 13.% $1,, or more 4-42.9% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 3,5 3, 2,5 2, 1,5 1, 5 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 85 67 26.9% $63,5 $58, 9.5% Foreclosure/REO 267 197 35.5% $37, $36,55 1.2% Short Sale 15 29-48.3% $45, $52,5-14.3% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $7, 211 212 213 214 Traditional Foreclosure/REO Short Sale $6, $5, $4, $3, $2, $1, $ 211 212 213 214 Data released on Wednesday, July 22, 215. Next data release is Thursday, August 2, 215.