Your SlideShare is downloading. ×
March 2014 Report
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

March 2014 Report

141
views

Published on

Published in: Real Estate, Business

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
141
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Pages 1-2 Market Summary Table ……………………………………………….. Page 3 Glossary ………………………………………………………………... Page 4 27 28 29 30 20 21 22 23 13 14 15 16 10 11 12 201417 18 19 24 25 26 6 7 8 9 1 2 Th F Sa Sunday, April 6 3 4 5 Su M Tu W SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE REAL ESTATE MARKET REPORT Robbie Breaux & Team Van Eaton & Romero 2000 Kaliste Saloom Road, Ste 101 Lafayette, Louisiana 70508 www.RobbieBreaux.com info@robbiebreaux.com (337) 267-4099 broknoz breauxknows breauxknows Real Market Reports www.RealMarketReports.com
  • 2. SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE REAL ESTATE MARKET REPORT at the real estate market. Currently there are 498 sales pending in the market overall, leaving 920 listings still for sale. The resulting pending ratio is 35.1% (498 divided by 1,418). 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. Alternatively, 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 $150K - $200K price range has a relatively large number of contracts pending sale. We also notice that the $150K - $200K price range has a relatively large inventory of properties for sale at 261 listings. The median list price (or asking price) for all properties in this market is $217,950. A total of 2212 contracts have closed in the last 6 months with a median sold price of $192,000. Breaking it down, we notice that the $150K - $200K price range contains the highest number of sold listings. Alternatively, a total of 652 listings have failed to sell in that same period of time. Listings 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 $150K - $200K price range has the highest number of off-market listings at 149 properties. 0 50 100 150 200 250 300 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K Properties For Sale Contracts Pending 0 100 200 300 400 500 600 700 800 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K Sold Off-Market Single Family Lafayette Number of Listings For Sale vs. Pending Contract Single Family Lafayette Num Sold vs. Off-Market (Last 6 mos.) Let's take a look 1Real Market Reports www.RealMarketReports.com Updated 4/6/2014, RealMarketReports.com Copyright © Robbie Breaux & Team Updated 4/6/2014, RealMarketReports.com Copyright © Robbie Breaux & Team Sunday, April 6, 2014 Market Dashboard info@robbiebreaux.com Robbie Breaux & Team Van Eaton & Romero (337) 267-4099
  • 3. SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE REAL ESTATE MARKET REPORT Looking at the chart to the right, you might be wondering why average days on market (DOM) 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 DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 83 days. Analysis of sold properties for the last six months reveals a median sold price of $192,000 and 46 days on market. Notice that properties in the $50K - $100K price range have sold quickest over the last six months. The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $212,450 with a DOM of 57 days. Since the recent DOM is greater than the median DOM 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. 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. "The median list-to-sales ratio for this area is 98.5%." Analysis of the absorption rate indicates an inventory of 2.5 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. 0 20 40 60 80 100 120 140 160 180 200 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K Sold For Sale $170K $175K $180K $185K $190K $195K $200K $205K $210K $215K Nov Dec Jan Feb Mar Apr 0 10 20 30 40 50 60 70 80 90 Nov Dec Jan Feb Mar Apr Single Family Lafayette Median Days on Market (DOM) Single Family Lafayette Median Days on Market (Sold) Single Family Lafayette Median Sold Prices 2Real Market Reports www.RealMarketReports.com Updated 4/6/2014, RealMarketReports.com Copyright © Robbie Breaux & Team Copyright © Robbie Breaux & Team Updated 4/6/2014, RealMarketReports.com Copyright © Robbie Breaux & Team Updated 4/6/2014, RealMarketReports.com Sunday, April 6, 2014 Market Dashboard info@robbiebreaux.com Robbie Breaux & Team Van Eaton & Romero (337) 267-4099
  • 4. SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE REAL ESTATE MARKET REPORT A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M Date Range (Off-Market & Sold) = 10/06/2013 to 04/06/2014 Data believed to be accurate but not guaranteed. 2.5 91 45 33% 26 $250,000 $299,999 85 $300,000 $349,999 48 371,461$ $350,000 $399,999 36 119 18 107 41 383,437$ 74 273,741$ 270,000$ 52 329,900$ 223,193$ 98% 99% 330,021$ 99% 98% 461 79 70 220,000$ 140 99% 176,250$ 49 226,767$ 52 225,000$ 221,000$ 98% 134,900$ 130,299$ 83 176,993$ 174,409$ 125 77,300$ 43 343 71 81 134,900$ 51 106 131,604$ 94% 79,900$ 75,750$ 95% 71 80,612$ 75,821$ 41,205$ 36,350$ 88% 42,800$ 38,739$ 44 110 46 4 18% 40,950$ 27 MARKET SUMMARY TABLE 498 PENDING [2] $0 $49,999 18 205 144 Pend Ratio 39,594$ Num # Num # Num # 2212 SOLD/CLOSED (last 6 months) [4] Days on Market Original List Price Final List Price Sold/ Closed Price 652 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE (months of inventory) Days on Market Current List Price A = Average Value M = Median Value N/A = Not Available 920 ACTIVE [1] List- Sale Ratio Est. Mos.Low High Price Range Num # 91% $50,000 $99,999 53 208 76,416$ 14 21% $100,000 $149,999 67 137 57 46% 84 97%35 132,860$ 129,186$ 97% 184,900$ $150,000 $199,999 261 157 82 $200,000 $249,999 182 123 698 174,087$ 99% 223,997$ 115 39% 182,658$ 160 38% 149 236 71111 270,278$ 29 40% 267,500$ 164 323,351$ 32 273,602$ 56 90 269,777$ 111 317,825$ 325,000$ 99% 40% 324,784$ 374,936$ 98% 79 367,550$ 54 385,000$ 375,250$ 97% 76 $400,000 $449,999 29 114 107 434,760$426,245$ 18 38% 19 425,902$ 98% 73 421,900$ 67 434,500$ 426,000$ 98% 50 $450,000 $499,999 30 121 122 487,019$478,487$ 7 19% 16 470,519$ 97% 94 480,900$ 48 485,000$ 467,000$ 96% 21 $500,000 $549,999 23 81 95 533,329$524,570$ 3 12% 7 529,678$ 99% 66 519,400$ 54 533,175$ 533,175$ 100% 13 $550,000 $599,999 11 89 144 591,933$580,064$ 3 21% 5 571,949$ 97% 41 573,000$ 127 584,050$ 575,000$ 98% 18 $600,000 $649,999 10 76 97 643,021$623,676$ 1 9% 4 615,934$ 96% 56 628,930$ 81 646,670$ 615,000$ 95% 13 $650,000 $699,999 8 181 100 697,565$681,175$ 3 27% 4 674,236$ 97% 172 685,000$ 47 699,000$ 680,000$ 97% 14 $700,000 + 59 210 174 1,141,356$ 7 11% 34 899,000$ 812,500$ 94% 28 210 81 935,375$ 94%994,754$ 83 227,540$ 867,450$ 652 2212 Market Averages 145 302,564$ Market Totals 920 498 35% 222,607$ 98% Market Medians 83 217,950$ 46 195,000$ Status = [1] A; [2] C, P; [3] X, W; [4] S Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P Property Type = DETACHED SINGLE FAMILY 192,000$ 98% 2.5 3 1.2 2.2 2.4 2.2 3.2 2.8 4.6 3.4 12.6 3.5 8.6 10.6 3.7 3Real Market Reports www.RealMarketReports.com Sunday, April 6, 2014 Market Summary Table info@robbiebreaux.com Robbie Breaux & Team Van Eaton & Romero (337) 267-4099 Favors Sellers Favors Buyers
  • 5. SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTE REAL ESTATE MARKET REPORT 1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): 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 List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number 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 (Number of Pending Listings) A+P (Number of Active + Pending) (P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: 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 CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio = Sold Price Final List Price 5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market. Real Market Reports www.RealMarketReports.com 4 Sunday, April 6, 2014 Glossary info@robbiebreaux.com Robbie Breaux & Team Van Eaton & Romero (337) 267-4099