ly Market Detail - November 17 Summary Statistics November 17 November 16 Paid in Cash.% 3 3.% $137, $11,7 19.8% Average Sale Price Dollar Volume $18,7 $113,6 13.3% $1, $,6 13.3% Median Percent of Original List Price Received 9.3% 81.1% 16.3% Median Time to Contract 9 Days 98 Days 113.3% Median Time to Sale 6 Days 163 Days 38.7% New Pending Sales New Listings 1 1 7 71.% 8 7.% Pending Inventory 1 Inventory (Active Listings) 3 s Supply of Inventory. 13 7.7% 3-18.6% 6.8-33.8% The number of sales transactions which closed during November 17 October 17 -.% September 17 6 August 17 7 Economists' note : are one of the simplest yet most July 17 7.% important indicators for the residential real estate market. When June 17 1 133.3% comparing across markets of different sizes, we May 17 6 -.% recommend comparing the percent changes in sales rather than the April 17 13 3.% number of sales. (and many other market metrics) are March 17 18 63.6% affected by seasonal cycles, so actual trends are more accurately February 17 -.9% represented by year-over-year changes (i.e. comparing a month's sales January 17 -.9% to the amount of sales in the same month in the previous year), rather December 16 8 166.7% than changes from one month to the next. November 16.%.%.%.% 13 1 1 16 17 1 1 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - November 17 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 November 17 3.% October 17 1.% September 17 3.% August 17 6.% July 17 1.% June 17 7 133.3% May 17-16.7% April 17 9.% March 17 1.% February 17 3 -.% January 17-6.% December 16 8 166.7% November 16 3.% 1 1 8 6 13 1 1 16 17 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 November 17 7.%.% October 17 1.% 3.% September 17 66.7% -33.3% August 17 8.7%.1% July 17 71.% 78.% June 17.%.% May 17 83.3%.8% April 17 69.% -3.1% March 17.6% -3.% February 17 7.% -1.% January 17.% -3.% December 16 1.%.% November 16 7.%.% 1% 1% 8% 6% % % % 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Average Sale Price ly Market Detail - November 17 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. October 17 $117, -.% September 17 $11, -3.9% August 17 November 17 $137, 19.8% $11, 67.6% July 17 $19, -1.1% June 17 $1, 3.6% May 17 $16,1 3.% April 17 $8, -8.1% March 17 $118, 86.6% February 17 $18,.8% January 17 $1, 1.8% December 16 $11, 6.% November 16 $11,7 -.% $K $1K $1K $K $K 13 1 1 16 17 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 November 17 $18,7 13.3% October 17 $117, 1.8% September 17 $117,83-3.8% August 17 $1, 37.1% July 17 $1,71-3.% June 17 $138,36.% May 17 $17,8 13.1% April 17 $16,377-1.3% March 17 $13,11 63.6% February 17 $137, 3.8% January 17 $1, 7.7% December 16 $1,83.% November 16 $113,6 -.7% $K $1K $1K $K $K 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Med. Pct. of Orig. List Price Received Dollar Volume ly Market Detail - November 17 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 November 17 $1, 13.3% October 17 $3, -3.6% September 17 $7,98 33.1% August 17 $878, 37.1% July 17 $83,997-7.6% June 17 $1.9 Million 19.3% May 17 $766,8-38.3% April 17 $1. Million 8.% March 17 $. Million 167.8% February 17 $9, -.7% January 17 $6, -7.% December 16 $98,7 79.7% November 16 $,6 -.7% $3 M $ M $ M $1 M $, $ 13 1 1 16 17 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 November 17 9.3% 16.3% October 17 8.% -1.1% September 17 9.6% -.% August 17 91.%.% July 17 9.3% 1.1% 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 lagging indicator. June 17 May 17 April 17 March 17 February 17 January 17 December 16 9.% 93.% 89.1% 9.8% 9.% 91.9% 87.9% 7.% 6.6%.%.1% 3.%.8% -8.1% Med. Pct. of Orig. List Price Received November 16 81.1% -1.% 1% 1% 8% 6% % % % 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Median Time to Sale Median Time to Contract ly Market Detail - November 17 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 November 17 9 Days 113.3% October 17 69 Days.% September 17 6 Days.% August 17 6 Days -3.6% July 17 3 Days -6.% June 17 13 Days 83.9% May 17 3 Days -7.1% April 17 6 Days -6.1% March 17 63 Days -7.% February 17 139 Days.9% January 17 191 Days 18.1% December 16 39 Days -77.3% November 16 98 Days 716.7% 1, 8 6 13 1 1 16 17 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 November 17 6 Days 38.7% October 17 91 Days 1.9% September 17 117 Days 91.8% August 17 86 Days -.9% July 17 83 Days -3.6% June 17 138 Days 13.1% May 17 11 Days 1.% April 17 81 Days -6.% March 17 11 Days 6.3% February 17 179 Days 17.8% January 17 77 Days.% December 16 73 Days -73.% November 16 163 Days 186.% 1, 8 6 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
New Listings Pending Sales ly Market Detail - November 17 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. October 17 6.% September 17 1-7.% August 17 New Pending Sales November 17 1 71.% 6-1.3% July 17 8 6.% June 17 8 6.% May 17 11 7.1% April 17 13 3.% March 17 11-8.3% February 17 1.% January 17 9-1.% December 16 3 -.% November 16 7.% 13 1 1 16 17 1 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 November 17 1 7.% October 17 1 87.% September 17 -.% August 17-37.% July 17 1 66.7% June 17 -.% May 17 13.% April 17 1-3.1% March 17 13 8.7% February 17 1 -.% January 17 1-33.3% December 16 8 -.% November 16 8 1.% 1 1 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
s Supply of Inventory Inventory ly Market Detail - November 17 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 November 17 3-18.6% October 17 38-11.6% September 17 3 -.% August 17 7-7.% July 17 9-3.7% June 17 3-1.8% May 17 33-1.8% April 17 3-19.% March 17 -.% February 17 39-7.8% January 17 7.% December 16 6 7.% November 16 3.9% 1 8 6 13 1 1 16 17 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 November 17. -33.8% October 17.9-7.9% September 17. -38.% August 17 3.6-3.8% July 17 3.9-9.1% June 17. -1.% May 17. -.7% April 17.8-1.3% March 17 6.1-11.6% February 17 6. -.% January 17 7..% December 16 6.8 -.9% November 16 6.8 6.%. 1. 1... 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Median Time to Contract ly Market Detail - November 17 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. November 16 November 17 Sale Price Less than $, -1.% $, - $99,999 1.% $1, - $19,999 1.% $1, - $199,999 1 N/A $, - $9,999-1.% $, - $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 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. 1,6 1, 1, 1, 8 6 Less than $, November 16 November 17 $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 Sale Price $, - $99,999 9 Days 3.7% $1, - $19,999 Median Time to Contract Less than $, (No Sales) N/A 19 Days -38.9% $1, - $199,999 6 Days N/A $, - $9,999 (No Sales) N/A $, - $99,999 (No Sales) N/A $3, - $399,999 (No Sales) 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 1,6 1, 1, 1, 8 6 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
Inventory New Listings ly Market Detail - November 17 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. 6 3 1 Less than $, November 16 November 17 $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 Initial Listing Price New Listings Less than $, 1 -.% $, - $99,999 3.% $1, - $19,999 3.% $1, - $199,999 66.7% $, - $9,999 1 N/A $, - $99,999 1 N/A $3, - $399,999 N/A $, - $99,999 N/A $6, - $999,999 N/A $1,, or more N/A $3, - $399,999 $, - $99,999 $6, - $999,999 $1,, or more 6 3 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 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 1 8 6 Less than $, November 16 November 17 $, - $99,999 $1, - $19,999 $1, - $199,999 $, - $9,999 $, - $99,999 Current Listing Price Inventory Less than $, -1.% $, - $99,999 7 -.% $1, - $19,999 1-7.7% $1, - $199,999 13 8.3% $, - $9,999 -.% $, - $99,999 1 N/A $3, - $399,999-1.% $, - $99,999 N/A $6, - $999,999 N/A $1,, or more N/A $3, - $399,999 $, - $99,999 $6, - $999,999 $1,, or more 1 1 1 8 6 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.
ly Distressed Market - November 17 November 17 November 16 Traditional.% $137, $11,7 19.8% Foreclosure/REO N/A (No Sales) (No Sales) N/A Short Sale N/A (No Sales) (No Sales) N/A 1% 9% 8% 7% 6% % % 3% % 1% % $, $18, $16, $1, $1, $1, $8, $6, $, $, $ 13 1 1 16 17 Traditional Foreclosure/REO Short Sale 13 1 1 16 17 Data released on Wednesday, December, 17. Historical data revised on Monday, January 16, 17. Next data release is Wednesday, January, 18.