ly Market Detail - 215 Summary Statistics 215 214 Paid in Cash 1,113 9,382 7.8% 3,629 4,16-9.6% New Pending Sales 11,346 1,257 1.6% 13,25 12,932 2.5% $162,5 $137, 18.6% Average Sale Price $22,618 $173,179 17.% Median Days on Market 31 4-22.5% Average Percent of Original List Price Received 94.3% 92.4% 2.1% Pending Inventory Inventory (Active Listings) 1,83 2,441. 997 8.6% 2,575. -5.2% Months Supply of Inventory 2.9 3.3-12.1% The number of sales transactions which closed during 215 1,113 7.8% 214 9,382 13.3% 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 -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. 213 8,282 14.9% 212 7,28 9.5% 211 6,585 7.5% 21 6,124-4.4% 11, 1, 9, 8, 7, 6,
Pct. of Closed Sales Paid in Cash Cash Sales ly Market Detail - 215 Cash Sales The number of during in which buyers exclusively paid in cash 214 Cash Sales 215 3,629-9.6% 4,16 7.4% 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. 213 212 211 21 3,741 18.8% 3,149 3.4% 3,44 18.1% 2,578 22.3% 4,4 3,9 3,4 2,9 2,4 Cash Sales as a Percentage of The percentage of during which were Cash Sales Percent of Closed Sales Paid in Cash 215 35.9% -16.2% 214 42.8% -5.2% 213 45.2% 3.4% 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. 212 43.7% -5.5% 211 46.2% 9.8% 21 42.1% 27.9% 5% 45% 4% 35% 3% 25%
Pending Sales ly Market Detail - 215 New Pending Sales The number of property listings that went from "Active" to "Pending" status during 215 214 New Pending Sales 11,346 1.6% 1,257 1.7% 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. 213 1,85 26.2% 212 7,993 18.5% 211 6,743 8.4% 21 6,219-3.3% 12,1 11,1 1,1 9,1 8,1 7,1 6,1 The number of properties put onto the market during 215 214 13,25 2.5% 12,932 2.1% 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. 213 12,665 18.6% 212 1,675 1.2% 211 9,688-22.3% 21 12,468 5.4% 13,5 12,5 11,5 1,5 9,5
Average Sale Price ly Market Detail - 215 The median sale price reported for (i.e. 5% of sales were above and 5% of sales were below) 215 $162,5 18.6% 214 $137, 9.6% 213 $125, 6.8% 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. 212 $117, 9.2% 211 $17,1-6.1% 21 $114, -8.8% $17K $15K $13K $11K $9K Average Sale Price The average sale price reported for (i.e. total sales in dollars divided by the number of sales) 215 Average Sale Price 214 $173,179 $22,618 17.% 5.9% 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. 213 $163,541 7.5% 212 $152,68 5.5% 211 $144,82-1.5% 21 $146,243-6.6% $21K $19K $17K $15K $13K
Avg. Pct. of Orig. List Price Received Median Days on Market ly Market Detail - 215 Median Days on Market The median number of days that properties sold during were on the market Median Days on Market 215 31-22.5% 214 4.% Economists' note : Median Days on Market is the amount of time the "middle" property selling this year was on the market. That is, 5% of homes selling this year 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. 213 4-11.1% 212 45-5.5% 211 91 23.% 21 74-14.9% 1 8 6 4 2 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 215 Avg. Pct. of Orig. List Price Received 214 92.4% 94.3% 2.1% -.8% 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. 213 93.1% 1.7% 212 91.5% 5.4% 211 86.8% -.8% 21 87.5%.9% 1% 95% 9% 85% 8% 75%
Months Supply of Inventory Inventory ly Market Detail - 215 Inventory (Active Listings) The number of property listings active at the end of Inventory 215 2,441-5.2% 214 2,575-15.5% 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 calculation for the following year. 213 3,47 2.9% 212 2,521-32.1% 211 3,714-38.5% 21 6,36 4.4% 6,3 5,3 4,3 3,3 2,3 Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates 215 Months Supply 2.9-12.1% 214 3.3-25.4% 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 Months of Inventory. Higher numbers indicate a buyers' market, lower numbers a sellers' market. 213 4.4 5.2% 212 4.2-38.% 211 6.8 N/A 21 (No Sales) N/A 9. 7. 5. 3. 1.
Median Days on Market ly Market Detail - 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 -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. 2,5 2, 1,5 1, 5 214 215 Sale Price Less than $5, 487-48.5% $5, - $99,999 1,89-17.8% $1, - $149,999 2,259 13.3% $15, - $199,999 1,812 22.8% $2, - $249,999 1,261 26.7% $25, - $299,999 821 26.9% $3, - $399,999 874 5.9% $4, - $599,999 52 33.% $6, - $999,999 25 78.3% $1,, or more 65 62.5% 2,5 2, 1,5 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 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 year was on the market. That is, 5% of homes selling this year 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. 16 14 12 1 8 6 4 2 Less than $5, 214 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Sale Price $15, - $199,999 29-27.5% $2, - $249,999 34-19.% $25, - $299,999 Median Days on Market Less than $5, 33-17.5% $5, - $99,999 26-29.7% $1, - $149,999 26-27.8% 29-32.6% $3, - $399,999 39-22.% $4, - $599,999 6 5.3% $6, - $999,999 92 15.% $1,, or more 136-1.5% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 16 14 12 1 8 6 4 2
Inventory ly Market Detail - 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. 3, 2,5 2, 1,5 1, 5 Less than $5, 214 215 $5, - $99,999 $1, - $149,999 $15, - $199,999 $2, - $249,999 $25, - $299,999 Initial Listing Price Less than $5, 419-48.3% $5, - $99,999 1,839-25.2% $1, - $149,999 2,648 -.3% $15, - $199,999 2,372 17.6% $2, - $249,999 1,695 12.2% $25, - $299,999 1,23 2.4% $3, - $399,999 1,48 29.7% $4, - $599,999 1,8 28.1% $6, - $999,999 465 24.% $1,, or more 166-21.3% $3, - $399,999 $4, - $599,999 $6, - $999,999 $1,, or more 3, 2,5 2, 1,5 1, 5 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 calculation for the following year. 5 4 3 2 1 214 215 Current Listing Price Inventory Less than $5, 36-68.7% $5, - $99,999 24-43.% $1, - $149,999 39-17.4% $15, - $199,999 387 4.6% $2, - $249,999 299 2.4% $25, - $299,999 259 33.5% $3, - $399,999 321 15.1% $4, - $599,999 267 7.7% $6, - $999,999 191 28.2% $1,, or more 87-11.2% 5 4 3 2 1 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
ly Distressed Market - 215 215 214 Traditional 8,196 6,644 23.4% $176,625 $16, 1.4% Foreclosure/REO 1,651 2,317-28.7% $99,95 $84,5 18.3% Short Sale 266 421-36.8% $12, $116,13 3.3% 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % $2, $18, $16, $14, $12, $1, $8, $6, $4, $2, $ Traditional Foreclosure/REO Short Sale