REL ESTTE RKET REPORT E ST TNY PRISH Su Tu W 2 3 4 5 9 1 11 12 16 17 18 19 23 24 25 26 3 Th F Sa Sunday, September 9 1 218 6 7 8 13 14 15 2 21 22 27 28 29 TBLE OF CONTENTS Charts and Commentary.. Pages 1-2 arket Summary Table.. Page 3 Glossary... Page 4 111 N. Causeway Blvd., Suite 11 andeville, L 7448 www.ylocalrealestate.com www.callwayneturner.com https://www.facebook.com/turnerrealestategroup http://twitter.com/nolamarketvalue http://www.youtube.com/user/wyneturnercom Real arket Reports www.realarketreports.com
REL ESTTE RKET REPORT E ST TNY PRISH Sunday, September 9, 218 Let's take a look at the real estate market. Currently there are 519 sales pending in the market overall, leaving 1471 listings still for sale. The resulting pending ratio is 26.1% (519 divided by 1,99). 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 mildly active." Taking a closer look, we notice that the 15K - 2K price range has a relatively large number of contracts pending sale. We also notice that the 2K - 25K price range has a relatively large inventory of properties for sale at 23 listings. The median list price (or asking price) for all properties in this market is 285,. 25 2 Properties For Sale Contracts Pending ber of ings For Sale vs. Pending Contract Updated 9/9/218, RealarketReports.com 15 1 5 K 5K 1K 15K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K 5 45 4 35 3 25 2 15 1 5 K Sold Off-arket 5K 1K 15K 2K Sold vs. Off-arket (Last 6 mos.) 25K 3K 35K Updated 9/9/218, RealarketReports.com 4K 45K 5K 55K 6K 65K 7K total of 2252 contracts have closed in the last 6 months with a median sold price of 235,. Breaking it down, we notice that the 15K - 2K price range contains the highest number of sold listings. lternatively, a total of 43 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 25K - 3K price range has the highest number of off-market listings at 6 properties. Real arket Reports www.realarketreports.com 1 arket Dashboard
REL ESTTE RKET REPORT E ST TNY PRISH Sunday, September 9, 218 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 68 days. 14 12 1 8 6 Sold For Sale edian Days on arket (DO) Updated 9/9/218, RealarketReports.com nalysis of sold properties for the last six months reveals a median sold price of 235, and 33 days on market. Notice that properties in the 15K - 2K price range have sold quickest over the last six months. 4 2 K 5K 1K 15K 2K 25K 3K 35K 4K 45K 5K 55K 6K 65K 7K The recent history of sales can be seen in the two charts below. The median sold price for the last 3 days was 232,5 with a DO of 37 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 98.%." 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 3.9 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. 26K 25K 24K 23K 22K 21K 2K 19K edian Sold s Updated 9/9/218, RealarketReports.com pr ay Jun Jul ug Sep 6 5 4 3 2 1 edian Days on arket (Sold) Updated 9/9/218, RealarketReports.com pr ay Jun Jul ug Sep Real arket Reports www.realarketreports.com 2 arket Dashboard
REL ESTTE RKET REPORT E ST TNY PRISH Sunday, September 9, 218 RKET SURY TBLE 519 PENDING [2] = verage Value = edian Value N/ = Not vailable Low Range High 49,999 5 25, 299,999 189 3, 349,999 115 35, 399,999 117 1471 CTIVE [1] 5, 99,999 58 1, 149,999 115 15, 199,999 193 2, 249,999 23 4, 449,999 11 45, 499,999 7 5, 549,999 4 55, 599,999 35 6, 649,999 23 65, 699,999 31 7, + 149 Date Range (Off-arket & Sold) = 3/11/218 to 9/9/218 Data believed to be accurate but not guaranteed. Days on arket 129 124 92 79,16 18 24% 7 85 55 81,25 25 57 Current 28,559 29,9 133,328 43 135, 73 58 78 176,357 176,5 226,791 59 227,25 Pend Ratio 4 44% 66 36% 41 11 36% 48 84 27% 56 43 OFF-RKET (last 6 mos) [3] BSORPTION RTE (months of inventory) 2252 SOLD/CLOSED (last 6 months) [4] 81 272,528 59 282,522 277,268 272,54 98 34% 6 326 62 27,9 3 279,9 275, 27,665 74 326,742 55 334,777 329,634 321,943 43 27% 42 2 53 325, 29 334,5 325,95 319,915 94 377,829 69 39,671 382,452 374,82 35 23% 41 153 75 376,785 52 387,5 38,545 375, 99% 86 429,597 7 443,992 435,257 21 17% 28 68 43, 46 444, 435, 42, 97% 18 476,171 53 491,511 481,821 8 1% 26 94 475, 33 489, 479,5 468, 17 527,892 78 558,62 545,1 9 18% 1 91 53, 22 546, 541, 52, 96% 17 581,26 75 68,929 595,825 76 585, 47 599, 589,45 562,5 95% 13 631,474 125 651,42 631,213 82 629, 1 65, 649,9 62, 95% 16 677,4 83 711,794 78,44 26 276 458 419 11 75 24 72 675, 33 699, 699, 679, 97% 166 136 1,243,81 7 17% 12 3 12% 9 5 14% 13 8 5% 37 arket Totals 1,471 519 26% arket verages 91 393,321 24 19 18 48 Days on arket 54 51,31 32 41,25 64 91,26 85,394 78,672 6 25 56 Original 179,9 178, 236,313 995, 83 977,5 93, 97,5 43 2252 33 234,75 46,47 29,356 63% 36,45 31,25 134,999 132, 52 181,713 177,831 174,333 Final 232,513 Sold/ Closed - Sale Ratio 86% 92% 9, 88,5 8, 9% 137,947 34 139,85 151 1,94,413 1,44,923 61 282,263 275,9 arket edians 68 285, 33 242,73 239,75 Status = [1] ; [2] C, U; [3] X; [4] S County Or Parish = STTNY Dwelling Type = SGL Favors Sellers 133,283 129,294 97% 175, 225,486 97% 229,9 225, 423,26 97% 47,656 52,378 95% 57,225 96% 624,392 99% 675,986 95% 981,241 94% 267,933 97% 235, Favors Buyers Est. os. 1.2 4.1 2.5 2.5 3.3 3.5 3.5 4.6 6 5.6 1 8.8 7.3 1.3 18.6 3.9 Real arket Reports www.realarketreports.com 3 arket Summary Table
REL ESTTE RKET REPORT E ST TNY PRISH Sunday, September 9, 218 1. 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. 2. CONTRCTS PENDING 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 3. 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 Sold: 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. Sold/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 = Sold 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 1 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