REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY                            Su    M    Tu   W    Th    F   Sa         ...
REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012                                                 ...
REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012                                                 ...
REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012                                                 ...
REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012                                                 ...
Upcoming SlideShare
Loading in...5
×

southeast montgomery_county

107

Published on

Published in: News & Politics
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
107
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

southeast montgomery_county

  1. 1. REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Su M Tu W Th F Sa Monday, June 4 1 2 3 4 5 6 7 8 9 10 17 24 11 18 25 12 19 26 13 20 27 14 21 28 15 22 29 16 23 30 2012 TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Pages 1-2 Market Summary Table ……………………………………………….. Page 3 Glossary ………………………………………………………………... Page 4 Jim Slack and Kendra Lee Broker: Prudential Gary Greene Realtors www.therealtynation.com info@therealtynation.com 832.304.3279 Real Market Reports RealMarketReports.com
  2. 2. REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012 Jim Slack and Kendra Lee Broker: Prudential Gary Greene Realtors info@therealtynation.com 832.304.3279 Lets take a look at the real estate market. Currently The pending ratio indicates the supply & demand of the market. Specifically, Taking a closer look, we notice that the $50K - $100K price range has a there are 78 sales pending in the a high ratio means that listings are in relatively large number of contracts market overall, leaving 244 listings still demand and quickly going to contract. pending sale. for sale. The resulting pending ratio is Alternatively, a low ratio means there 24.2% (78 divided by 322). So you are not enough qualified buyers for the We also notice that the $150K - $200K might be asking yourself, thats great... existing supply. price range has a relatively large but what exactly does it mean? Im inventory of properties for sale at 48 glad you asked! "Current inventory is described listings. The median list price (or as mildly active." asking price) for all properties in this market is $196,245. Properties For Sale Number of Listings For Sale vs. Pending Contract Contracts Pending Southeast Montgomery County 60 Updated on 6/4/2012, RealMarketReports.com Copyright © Jim Slack and Kendra Lee 50 40 30 20 10 0 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K A total of 189 contracts have closed in Sold Num Sold vs. Off-Market (Last 6 mos.) the last 6 months with a median sold Off-Market Southeast Montgomery County price of $163,000. Breaking it down, 50 we notice that the $150K - $200K price Updated on 6/4/2012, RealMarketReports.com 45 Copyright © Jim Slack and Kendra Lee range contains the highest number of 40 sold listings. 35 30 Alternatively, a total of 91 listings have failed to sell in that same period of 25 time. Listings may fail to sell for many 20 reasons such as being priced too high, 15 having been inadequately marketed, 10 the property was in poor condition, or 5 perhaps the owner had second 0 thoughts about selling at this particular time. The $150K - $200K price range $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K has the highest number of off-market listings at 20 properties. Real Market Reports 1 Market Dashboard RealMarketReports.com
  3. 3. REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012 Jim Slack and Kendra Lee Broker: Prudential Gary Greene Realtors info@therealtynation.com 832.304.3279 Looking at the chart to the right, you might be wondering why average days Sold Median Days on Market (DOM) on market (DOM) is important. This is For Sale Southeast Montgomery County a useful measurement because it can 1400 Updated on 6/4/2012, RealMarketReports.com help us to determine whether we are Copyright © Jim Slack and Kendra Lee 1200 in a buyers market (indicated by high DOM), or a sellers market (indicated 1000 by low DOM). Active listings (properties for sale) have been on the 800 market for a median time of 69 days. 600 Analysis of sold properties for the last 400 six months reveals a median sold 200 price of $163,000 and 61 days on market. Notice that properties in the 0 $0K - $50K price range have sold $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K 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 "The median list-to-sales ratio Analysis of the absorption rate was $153,900 with a DOM of 51 days. for this area is 95.9%." indicates an inventory of 7.7 months based on the last 6 months of sales. Since the recent DOM is less than the Ratios are simple ways to express the This estimate is often used to median DOM for the last 6 months, it difference between two values such as determine how long it would take to is a positive indicator for demand. It is list price and sold price. In our case, sell off the current inventory of always important to realize that real we typically use the list-to-sale ratio to properties if all conditions remained estate markets can fluctuate due to determine the percentage of the final the same. It is significant to mention many factors, including shifting interest list price that the buyer ultimately paid. that this estimate does not take into rates, the economy, or seasonal It is a very common method to help consideration any additional properties changes. buyers decide how much to offer on a that will come onto the market in the property. future. Median Sold Prices Median Days on Market (Sold) Southeast Montgomery County Southeast Montgomery County $200K 120 100 $150K 80 $100K 60 40 $50K Copyright © Jim Slack and Kendra Lee 20 Copyright © Jim Slack and Kendra Lee Updated on 6/4/2012, RealMarketReports.com Updated on 6/4/2012, RealMarketReports.com $0K 0 Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun Real Market Reports 2 Market Dashboard RealMarketReports.com
  4. 4. REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012 Jim Slack and Kendra Lee Broker: Prudential Gary Greene Realtors info@therealtynation.com 832.304.3279 ABSORPTION RATE MARKET SUMMARY TABLE 78 PENDING [2] 91 OFF-MARKET (last 6 mos) [3] (months of inventory) A = Average Value M = Median Value N/A = Not Available 244 ACTIVE [1] 189 SOLD/CLOSED (last 6 months) [4] Price Range Days Current Days Original Final Sold/ List- Num Num Pend Num Num Est. on List on List List Closed Sale Low High # # Ratio # # Mos. Market Price Market Price Price Price Ratio A 79 $ 34,837 A 55 $ 42,647 $ 38,781 $ 35,145 91% $0 $49,999 10 3 23% 4 19 3.2 M 60 $ 38,500 M 34 $ 39,900 $ 39,900 $ 35,425 89% A 120 $ 82,376 A 70 $ 84,972 $ 77,755 $ 74,505 96% $50,000 $99,999 29 15 34% 11 29 6 M 90 $ 82,900 M 71 $ 82,000 $ 77,900 $ 74,500 96% A 115 $ 126,582 A 73 $ 135,308 $ 131,392 $ 125,086 95% $100,000 $149,999 41 12 23% 18 32 7.7 M 90 $ 125,000 M 39 $ 134,800 $ 129,800 $ 125,000 96% A 87 $ 176,348 A 127 $ 191,547 $ 181,429 $ 175,460 97% $150,000 $199,999 48 15 24% 20 45 6.4 M 59 $ 176,220 M 99 $ 189,700 $ 185,362 $ 177,900 96% A 72 $ 225,826 A 82 $ 245,224 $ 236,453 $ 223,930 95% $200,000 $249,999 38 11 22% 16 30 7.6 M 57 $ 225,475 M 52 $ 239,381 $ 236,881 $ 226,250 96% A 106 $ 275,344 A 156 $ 314,093 $ 289,096 $ 274,563 95% $250,000 $299,999 33 10 23% 8 17 11.6 M 67 $ 279,000 M 52 $ 299,900 $ 270,237 $ 267,000 99% A 113 $ 329,154 A 85 $ 358,735 $ 327,579 $ 314,556 96% $300,000 $349,999 14 7 33% 3 9 9.3 M 51 $ 334,000 M 57 $ 364,900 $ 315,000 $ 310,000 98% A 91 $ 380,616 A 61 $ 404,046 $ 404,046 $ 381,600 94% $350,000 $399,999 10 0 3 5 12 M 79 $ 381,250 M 33 $ 399,000 $ 399,000 $ 389,000 97% A 88 $ 431,389 A 87 $ 439,500 $ 437,000 $ 428,000 98% $400,000 $449,999 9 1 10% 2 2 27 M 66 $ 429,900 M 87 $ 439,500 $ 437,000 $ 428,000 98% A 196 $ 487,098 A 1257 $ 524,900 $ 524,900 $ 490,900 94% $450,000 $499,999 4 2 33% 4 1 24 M 105 $ 489,450 M 1257 $ 524,900 $ 524,900 $ 490,900 94% A 187 $ 525,000 $500,000 $549,999 2 1 33% 1 0 M 187 $ 525,000 $550,000 $599,999 0 1 N/A 0 0 A 51 $ 607,500 $600,000 $649,999 2 0 0 0 M 51 $ 607,500 A 897 $ 674,900 $650,000 $699,999 1 0 0 0 M 897 $ 674,900 A 336 $ 1,236,967 $700,000 + 3 0 1 0 M 129 $ 950,900 Market Totals 244 78 24% 91 189 7.7 Market Averages 106 $ 225,228 99 $ 188,217 $ 178,498 $ 170,361 95% Market Medians 69 $ 196,245 61 $ 179,900 $ 169,900 $ 163,000 96% Date Range (Off-Market & Sold) = 12/05/2011 to 06/04/2012 Favors Sellers Favors Buyers Data believed to be accurate but not guaranteed. Status = [1] act; [2] op, pend, PSHO; [3] exp; [4] closd ZipCode = 77365, 77357 PropType = RES Real Market Reports 3 Market Summary Table RealMarketReports.com
  5. 5. REAL ESTATE MARKET REPORTSOUTHEAST MONTGOMERY COUNTY Monday, June 4, 2012 Jim Slack and Kendra Lee Broker: Prudential Gary Greene Realtors info@therealtynation.com 832.304.3279 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 4 Glossary RealMarketReports.com

×