ly Market Detail - August 215 Summary Statistics August 215 August 214 Paid in Cash 293 277 5.8% 195 183 6.6% New Pending Sales 22 224-1.8% 346 284 21.8% $22, $177, 24.3% Average Sale Price $34,615 $281,24 8.3% Median Days on Market 43 7-38.6% Average Percent of Original List Price Received 94.9% 92.4% 2.7% Pending Inventory Inventory (Active Listings) 376 1,6 33 13.9% 1,126-5.9% s Supply of Inventory 3.4 3.8-9.7% 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. August 215 293 5.8% July 215 338 18.6% June 215 352 May 215 399 April 215 433 March 215 412 February 215 252 January 215 229 December 214 27 November 214 218 October 214 288 September 214 246 August 214 277 9.7% 13.% -.7% 17.% -1.2% -13.3% -9.7% -4.8% 23.6% -9.6% -11.2% 5 4 3 2 1 Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - August 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 August 215 195 6.6% July 215 23 1.3% June 215 23-1.7% May 215 266 5.6% April 215 295-1.9% March 215 285 5.2% February 215 192-5.4% January 215 184-9.4% December 214 177-19.9% November 214 156-9.3% October 214 191 11.7% September 214 173-6.5% August 214 183-16.8% 4 3 2 1 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 August 215 66.6%.7% July 215 6.1% -7.% June 215 65.3% -1.4% May 215 66.7% -6.6% April 215 68.1% -1.3% March 215 69.2% -1.1% February 215 76.2% -4.3% January 215 8.3% 4.5% December 214 65.6% -11.3% November 214 71.6% -4.7% October 214 66.3% -9.6% September 214 7.3% 3.4% August 214 66.1% -6.3% 9% 8% 7% 6% 5% Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Pending Sales ly Market Detail - August 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. August 215 July 215 June 215 May 215 267 April 215 372 March 215 February 215 January 215 December 214 November 214 October 214 September 214 August 214 New Pending Sales 22 255 241 48 383 328 19 23 29 226 224-1.8% 5.8% -12.% -12.2% 14.5% -5.1% 14.7% -4.9% -23.7% -3.4% -11.1%.4% -14.2% 5 4 3 2 1 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. August 215 July 215 June 215 May 215 April 215 March 215 February 215 January 215 December 214 November 214 October 214 September 214 August 214 346 277 315 319 452 51 451 528 342 372 348 39 284 21.8% -2.1% 6.4% -13.8% 13.% 14.6% 5.6% -4.9% -3.7%.8% -14.7% -9.1% -14.7% 6 5 4 3 2 1 Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Average Sale Price ly Market Detail - August 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. August 215 $22, 24.3% July 215 $19, -7.3% June 215 $21, 7.7% May 215 $21, 2.% April 215 $191,4 4.3% March 215 $18,745 5.8% February 215 $187,5 1.3% January 215 $185, 5.1% December 214 $177,5-2.5% November 214 $175, 1.9% October 214 $175,.% September 214 $195, 18.2% August 214 $177, 9.9% $23K $21K $19K $17K $15K $13K $11K 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 August 215 $34,615 8.3% July 215 $275,7-12.7% June 215 $36,859 7.2% May 215 $317,371 9.6% April 215 $287,26 -.6% March 215 $258,921-11.3% February 215 $238,334-2.3% January 215 $263,754-7.4% December 214 $257,9-6.4% November 214 $285,234 27.8% October 214 $3,885 24.1% September 214 $278,918 9.4% August 214 $281,24 11.3% $34K $29K $24K $19K Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - August 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 August 215 43-38.6% July 215 52-39.5% June 215 43-33.8% May 215 44-31.3% April 215 39-33.9% March 215 47-11.3% February 215 5-24.2% January 215 56 3.7% December 214 45-6.3% November 214 37-31.5% October 214 55 12.2% September 214 66 13.8% August 214 7 4.5% 15 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 August 215 94.9% 2.7% July 215 93.3% 1.1% June 215 93.8% 2.1% May 215 93.5% 1.2% April 215 93.9% 2.% March 215 93.5% 1.% February 215 92.7% -.6% January 215 92.8% 1.2% December 214 93.2%.4% November 214 93.9%.8% October 214 93.5%.1% September 214 92.3% -.8% August 214 92.4% -.2% 1% 95% 9% 85% 8% 75% Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
s Supply of Inventory Inventory ly Market Detail - August 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 August 215 1,6-5.9% July 215 1,46-8.8% June 215 1,15-9.4% May 215 1,211-13.7% April 215 1,33-7.1% March 215 1,379-8.8% February 215 1,387-12.9% January 215 1,42-9.7% December 214 1,29-1.7% November 214 1,241-11.5% October 214 1,174-1.3% September 214 1,12-1.3% August 214 1,126-7.9% 2,9 2,4 1,9 1,4 9 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 August 215 3.4-9.7% July 215 3.4-11.3% June 215 3.8-1.6% May 215 4. -13.8% April 215 4.5-4.8% March 215 4.6-6.9% February 215 4.7-9.2% January 215 4.8-4.9% December 214 4.3-8.1% November 214 4.1-1.2% October 214 3.9-8.1% September 214 3.8-5.6% August 214 3.8-6.2% 17. 12. 7. 2. Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Median Days on Market ly Market Detail - August 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. 7 6 5 4 3 2 1 Less than $5, August 214 August 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price Less than $5, 4-33.3% $5, - $99,999 31-18.4% $1, - $149,999 43-33.8% $15, - $199,999 53 8.2% $2, - $249,999 45 21.6% $25, - $299,999 29 81.3% $3, - $399,999 34 54.5% $4, - $599,999 36 71.4% $6, - $999,999 1-28.6% $1,, or more 8-11.1% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 7 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. 12 1 8 6 4 2 Less than $5, August 214 August 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $5, - $99,999 31-43.6% $1, - $149,999 Median Days on Market Less than $5, 5-87.5% 39-32.8% $15, - $199,999 32-52.9% $2, - $249,999 55-2.3% $25, - $299,999 36-62.5% $3, - $399,999 65-23.5% $4, - $599,999 1 1.% $6, - $999,999 15 28.% $1,, or more 37-47.9% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 12 1 8 6 4 2 Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.
Inventory ly Market Detail - August 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, August 214 August 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 2-5.% $5, - $99,999 28-33.3% $1, - $149,999 61-3.2% $15, - $199,999 54 42.1% $2, - $249,999 44 69.2% $25, - $299,999 47 74.1% $3, - $399,999 38 72.7% $4, - $599,999 38 31.% $6, - $999,999 2 5.3% $1,, or more 14.% $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. 2 15 1 5 August 214 August 215 Current Listing Price Inventory Less than $5, 3-57.1% $5, - $99,999 65-47.2% $1, - $149,999 124-27.1% $15, - $199,999 125 13.6% $2, - $249,999 11-13.7% $25, - $299,999 113 15.3% $3, - $399,999 15-15.3% $4, - $599,999 172 27.4% $6, - $999,999 15 7.9% $1,, or more 12-1.% 2 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 Monday, September 21, 215. Next data release is Thursday, October 22, 215.
ly Distressed Market - August 215 August 215 August 214 Traditional 272 243 11.9% $224,843 $186, 2.9% Foreclosure/REO 18 27-33.3% $135, $135,.% Short Sale 3 7-57.1% $86, $1,3-14.3% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $45, Traditional Foreclosure/REO Short Sale $4, $35, $3, $25, $2, $15, $1, $5, $ Data released on Monday, September 21, 215. Next data release is Thursday, October 22, 215.