Georgia Association of Realtors Stats for December 2013

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Georgia sales and listing stats for December 2013

Georgia sales and listing stats for December 2013

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  • 1. Monthly Indicators December 2013 Activity Snapshot + 3.7% In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year. New Listings increased 8.3 percent to 7,143. Pending Sales were up 16.9 percent to 6,237. Inventory levels shrank 4.2 percent to 37,803 units. Prices marched higher. The Median Sales Price increased 24.8 percent to $149,900. Days on Market was down 14.7 percent to 81 days. Absorption rates improved as Months Supply of Inventory was down 5.5 percent to 5.2 months. Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve's long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It's no wonder that buyers were active in 2013. Here's to more of the same in 2014. + 24.8% - 4.2% One-Year Change in Closed Sales One-Year Change in Median Sales Price One-Year Change in Homes for Sale A research tool provided by the Georgia Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures. Activity Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory 2 3 4 5 6 7 8 9 10 11 12 Click on desired metric to jump to that page. Changes in methodology were implemented in October 2012 to provide a more accurate count of inventory and related metrics. Due to MLS purging rules, activity before 2008 cannot be updated and therefore shifts in the trendlines may occur. Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing.
  • 2. Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars 12-2012 12-2011 12-2012 12-2011 12-2012 12-2011 12-2012 12-2011 12-2012 12-2011 12-2012 12-2011 12-2012 - 14.7% 94 78 - 17.0% $149,900 + 24.8% $108,100 $143,000 + 32.3% $194,093 + 18.0% $149,668 $184,383 + 23.2% 93.9% + 0.1% 92.3% 94.9% + 2.8% 235 - 23.9% 334 244 - 26.9% 37,803 - 4.2% -- -- -- 5.2 - 5.5% -- -- -- 12-2013 Months Supply of Inventory 12-2010 81 12-2013 Inventory of Homes for Sale 12-2010 - 2.3% 12-2013 Affordability Index 12-2010 84,120 12-2013 Pct. of Orig. Price Received 12-2010 86,091 12-2013 Average Sales Price 12-2010 + 3.7% 12-2013 Median Sales Price 12-2010 6,497 5.5 12-2012 + 1.4% 39,469 12-2011 86,723 12-2013 Days on Market Until Sale 12-2010 85,553 309 12-2012 + 16.9% 93.8% 12-2011 6,237 Percent Change 12-2013 Closed Sales 12-2010 + 2.1% $164,534 12-2012 131,490 $120,100 12-2011 YTD 2012 YTD 2013 12-2013 Pending Sales 12-2010 128,792 95 12-2012 + 8.3% 6,265 12-2011 7,143 5,336 12-2010 Percent Change 6,596 New Listings 12-2013 12-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
  • 3. New Listings A count of the properties that have been newly listed on the market in a given month. December Year to Date New Listings Prior Year Percent Change + 2.1% 13,239 -6.4% 12,322 12,879 -4.3% 12,518 11,928 +4.9% 11,826 11,560 +2.3% 11,945 10,849 +10.1% 11,315 10,934 +3.5% 10,534 9,317 +13.1% October 2013 - 11.9% 12,390 September 2013 - 11.3% March 2013 August 2013 + 8.3% -10.7% July 2013 - 22.3% -7.5% 11,565 April 2013 131,490 11,799 10,323 June 2013 128,792 7,143 10,919 February 2013 146,200 6,596 - 22.8% January 2013 May 2013 8,484 11,176 10,183 +9.8% 9,079 7,943 +14.3% November 2013 December 2013 2011 2012 2011 2013 2012 2013 12-Month Avg 7,143 6,596 +8.3% 10,958 10,733 +2.1% Historical New Listings by Month 25,000 20,000 15,000 10,000 5,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
  • 4. Pending Sales A count of the properties on which offers have been accepted in a given month. December Year to Date Pending Sales Prior Year Percent Change 2011 2012 + 12.6% 2011 2013 + 4.9% 2012 + 1.4% 2013 -6.5% 8,373 7,944 +5.4% 8,219 8,233 -0.2% 7,848 7,966 -1.5% 7,666 7,490 +2.3% 7,579 7,468 +1.5% 6,581 5,848 +12.5% 7,261 7,007 +3.6% November 2013 6,334 6,109 +3.7% December 2013 + 16.9% 8,128 October 2013 - 5.7% 7,596 September 2013 + 21.2% March 2013 August 2013 86,723 -10.9% July 2013 5,336 85,553 -2.8% 7,356 June 2013 81,570 6,668 6,551 April 2013 6,237 6,478 February 2013 May 2013 5,659 January 2013 6,237 5,336 +16.9% 12-Month Avg 7,227 7,129 +1.4% Historical Pending Sales by Month 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
  • 5. Closed Sales A count of the actual sales that closed in a given month. December Year to Date Closed Sales Prior Year Percent Change 2011 2012 + 9.7% 2011 2013 + 8.0% 2012 - 2.3% 2013 -8.3% 7,144 7,183 -0.5% 8,479 7,982 +6.2% 8,046 8,457 -4.9% 8,316 8,081 +2.9% 8,020 8,412 -4.7% 6,690 6,701 -0.2% 6,900 7,287 -5.3% November 2013 6,110 6,555 -6.8% December 2013 + 3.7% 7,595 October 2013 - 6.8% 6,961 September 2013 + 17.1% March 2013 April 2013 84,120 -7.5% August 2013 79,713 -2.9% 6,129 July 2013 6,497 5,444 5,669 June 2013 6,265 86,091 5,288 February 2013 May 2013 6,720 January 2013 6,497 6,265 +3.7% 12-Month Avg 7,010 7,174 -2.3% Historical Closed Sales by Month 12,000 10,000 8,000 6,000 4,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
  • 6. Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month. December Year to Date Days on Market Prior Year Percent Change - 9.5% 2011 - 14.7% 2012 + 6.1% 2011 2013 - 9.6% 2012 - 17.0% 2013 -14.0% 81 96 -15.6% May 2013 77 91 -15.4% 75 89 -15.7% 72 90 -20.0% 73 92 -20.7% 71 90 -21.1% 76 96 -20.8% November 2013 76 93 -18.3% December 2013 + 2.9% 100 October 2013 78 86 April 2013 September 2013 81 -14.7% March 2013 94 -11.9% 102 August 2013 95 101 87 July 2013 104 89 February 2013 June 2013 105 January 2013 81 95 -14.7% 12-Month Avg* 78 94 -17.0% * Average Days on Market of all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Days on Market Until Sale by Month 120 110 100 90 80 70 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
  • 7. Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. December Year to Date Median Sales Price Prior Year Percent Change January 2013 2011 2012 - 13.1% 2011 2013 + 5.5% 2012 + 32.3% 2013 +35.1% $137,813 $105,000 +31.3% $147,500 $109,100 +35.2% $155,000 $114,000 +36.0% $159,900 $116,000 +37.8% $153,500 $112,550 +36.4% $145,000 $112,500 +28.9% $146,638 $110,000 +33.3% November 2013 $143,000 $116,000 +23.3% December 2013 + 24.8% $98,080 October 2013 + 25.8% $132,500 September 2013 - 17.0% March 2013 August 2013 $95,500 $108,100 +37.6% July 2013 $102,500 +28.7% $86,500 June 2013 $120,100 $87,000 $119,000 May 2013 $143,000 $112,000 February 2013 April 2013 $149,900 $149,900 $120,100 +24.8% 12-Month Med* $143,000 $108,100 +32.3% * Median Sales Price of all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Median Sales Price by Month $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
  • 8. Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. December Year to Date Average Sales Price Prior Year Percent Change January 2013 2011 2012 2011 2013 + 3.5% 2012 + 23.2% 2013 +21.3% $152,407 +25.7% $200,041 $158,895 +25.9% $200,062 $159,798 +25.2% $196,222 $151,920 +29.2% $184,661 $152,671 +21.0% $185,650 $151,839 +22.3% November 2013 $180,857 $154,535 +17.0% December 2013 - 6.6% $147,373 $191,615 October 2013 + 18.0% $178,700 September 2013 + 19.9% +23.5% August 2013 - 12.9% $138,988 July 2013 $137,174 $171,716 June 2013 $144,657 $164,534 +23.7% April 2013 $149,668 +18.4% $127,278 May 2013 $194,093 $126,246 $157,481 March 2013 $184,383 $149,488 February 2013 $194,093 $164,534 +18.0% 12-Month Avg* $184,383 $149,668 +23.2% * Average Sales Price of all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Average Sales Price by Month $240,000 $220,000 $200,000 $180,000 $160,000 $140,000 $120,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
  • 9. Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. December Year to Date Pct. of Orig. Price Received Prior Year Percent Change 2011 2012 2011 2013 2012 + 2.8% 2013 +4.9% 95.2% 91.5% +4.0% 95.6% 92.5% +3.4% 95.5% 92.9% +2.8% 95.5% 93.1% +2.6% 95.5% 93.2% +2.5% 94.9% 93.3% +1.7% 94.5% 93.7% +0.9% November 2013 94.2% 93.8% +0.4% December 2013 + 4.1% 90.3% October 2013 - 1.2% 94.7% September 2013 + 0.1% +6.0% August 2013 + 5.3% +4.6% 89.0% July 2013 + 1.7% 89.3% 94.3% March 2013 92.3% 93.4% June 2013 88.7% 94.9% February 2013 May 2013 93.9% January 2013 April 2013 89.1% 93.8% 93.9% 93.8% +0.1% 12-Month Avg* 94.9% 92.3% +2.8% * Average Pct. of Orig. Price Received for all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Percent of Original List Price Received by Month 98% 96% 94% 92% 90% 88% 86% 84% 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
  • 10. Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. December Year to Date Affordability Index Prior Year Percent Change 2011 2012 + 12.2% 2011 2013 + 3.7% 2012 - 26.9% 2013 268 326 -17.8% May 2013 246 320 -23.1% June 2013 224 312 -28.2% 220 311 -29.3% 225 317 -29.0% 239 322 -25.8% 237 326 -27.3% November 2013 254 315 -19.4% December 2013 - 23.9% -19.5% October 2013 - 8.8% 338 September 2013 + 15.7% 272 August 2013 244 -20.7% April 2013 235 -14.4% 372 March 2013 334 368 295 July 2013 322 309 315 February 2013 339 January 2013 235 309 -23.9% 12-Month Avg 253 253 0.0% Historical Housing Affordability Index by Month 400 350 300 250 200 150 100 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
  • 11. Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. December Homes for Sale Prior Year Percent Change January 2013 -20.2% 50,388 -17.6% 42,378 49,154 -13.8% 42,826 47,835 -10.5% 42,608 46,176 -7.7% 42,697 45,053 -5.2% 42,276 44,333 -4.6% November 2013 41,009 42,039 -2.5% December 2013 37,803 39,469 -4.2% 12-Month Avg 2013 51,024 41,534 October 2013 2012 40,707 September 2013 2011 -20.3% August 2013 - 4.2% 50,497 July 2013 - 22.4% 40,258 June 2013 - 20.6% -22.5% May 2013 37,803 -24.3% 50,368 April 2013 39,469 50,916 39,017 March 2013 50,887 38,518 February 2013 40,969 47,271 -13.3% * Homes for Sale for all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Inventory of Homes for Sale by Month 120,000 100,000 80,000 60,000 40,000 20,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
  • 12. Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months. December Months Supply Prior Year Percent Change January 2013 7.2 -19.4% 5.9 7.0 -15.7% 6.0 6.9 -13.0% 6.1 6.6 -7.6% 6.0 6.4 -6.3% 6.0 6.4 -6.3% October 2013 5.9 6.2 -4.8% November 2013 5.7 5.9 -3.4% December 2013 5.2 5.5 -5.5% 12-Month Avg 2013 5.8 September 2013 2012 -20.8% August 2013 2011 7.2 May 2013 - 5.5% 5.7 July 2013 - 26.7% -23.6% June 2013 - 29.2% -27.0% 7.2 April 2013 5.2 7.4 5.5 March 2013 5.5 5.4 February 2013 7.5 5.8 6.7 -13.4% * Months Supply for all properties from January 2013 through December 2013. This is not the average of the individual figures above. Historical Months Supply of Inventory by Month 20.0 17.5 15.0 12.5 10.0 7.5 5.0 2.5 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12