Denham Springs Zip Code 70706 Market Reports
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Denham Springs Zip Code 70706 Market Reports

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Denham Springs Zip Code 70706 Market Reports Denham Springs Zip Code 70706 Market Reports Document Transcript

  • REAL ESTATE MARKET REPORTDENHAM SPRINGS (70706) Su M Tu W Th F Sa Monday, October 3 1 2 3 4 5 6 7 8 9 16 23 30 10 17 24 31 11 18 25 12 19 26 13 20 27 14 21 28 15 22 29 2011 TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Pages 1-2 Market Summary Table ……………………………………………….. Page 3 Glossary ………………………………………………………………... Page 4 Keller Williams Livingston Partners (225) 664-1911 Real Market Reports RealMarketReports.com
  • REAL ESTATE MARKET REPORTDENHAM SPRINGS (70706) Monday, October 3, 2011 Keller Williams Livingston Partners (225) 664-1911Lets 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 $100K - $150K price range has a there are 30 sales pending in the a high ratio means that listings are in relatively large number of contracts market overall, leaving 89 listings still demand and quickly going to contract. pending sale. for sale. The resulting pending ratio is Alternatively, a low ratio means there 25.2% (30 divided by 119). So you are not enough qualified buyers for the We also notice that the $100K - $150K 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 35 glad you asked! Current inventory is described listings. The average list price (or as somewhat slow. asking price) for all properties in this market is $181,931. Contracts Pending Number of Listings For Sale vs. Pending Contract For Sale Denham Springs (70706) 40 Updated on 10/03/2011, RealMarketReports.com 35 Copyright © Keller Williams Livingston Partners 30 25 20 15 10 5 0 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K A total of 105 contracts have closed in Sold Num Sold vs. Off-Market (Last 6 mos.) the last 6 months with an average sold Off-Market Denham Springs (70706) price of $158,250. Breaking it down, 60 we notice that the $100K - $150K price Updated on 10/03/2011, RealMarketReports.com Copyright © Keller Williams Livingston Partners range contains the highest number of 50 sold listings. 40 Alternatively, a total of 34 listings have 30 failed to sell in that same period of time. Listings may fail to sell for many 20 reasons such as being priced too high, having been inadequately marketed, 10 the property was in poor condition, or perhaps the owner had second 0 thoughts about selling at this particular $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K time. The $150K - $200K price range has the highest number of off-market listings at 17 properties. Real Market Reports Market Dashboard RealMarketReports.com 1
  • REAL ESTATE MARKET REPORTDENHAM SPRINGS (70706) Monday, October 3, 2011 Keller Williams Livingston Partners (225) 664-1911 Looking at the chart to the right, you might be wondering why average days Sold Average Days on Market (DOM) on market (DOM) is important. This is For Sale Denham Springs (70706) a useful measurement because it can 180 Updated on 10/03/2011, RealMarketReports.com help us to determine whether we are 160 Copyright © Keller Williams Livingston Partners in a buyers market (indicated by high 140 DOM), or a sellers market (indicated 120 by low DOM). Active listings, or 100 properties for sale, have been on the market for an average of 122 days. 80 60 Analysis of sold properties for the last 40 six months reveals an average sold 20 price of $158,250 and 105 days on 0 market. Notice that properties in the $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K $0K - $50K price range have sold quickest over the last six months. The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days The average list-to-sales ratio Analysis of the absorption rate was $145,388 with an average DOM for this area is 98.2%. indicates an inventory of 5.1 months of 63 days. based on the last 6 months of sales. Ratios are simple ways to express the This estimate is often used to Since the recent DOM is less than the difference between two values such as determine how long it would take to average DOM for the last 6 months, it list price and sold price. In our case, sell off the current inventory of listings is a positive indicator for demand. It is we typically use the list-to-sale ratio to if all conditions remained the same. It always important to realize that real determine the percentage of the final is significant to mention that this estate markets can fluctuate due to list price that the buyer ultimately paid. estimate does not take into many factors, including shifting interest It is a very common method to help consideration any additional properties rates, the economy, or seasonal buyers decide how much to offer on a that will come on the market in the changes. property. future. Average Sold Prices Average Days on Market (Sold) Denham Springs (70706) Denham Springs (70706) $200K 160 140 $150K 120 100 $100K 80 60 $50K 40 Copyright © Keller Williams Livingston Partners 20 Copyright © Keller Williams Livingston Partners Updated on 10/03/2011, RealMarketReports.com Updated on 10/03/2011, RealMarketReports.com $0K 0 May Jun Jul Aug Sep May Jun Jul Aug Sep Real Market Reports Market Dashboard RealMarketReports.com 2
  • REAL ESTATE MARKET REPORTDENHAM SPRINGS (70706) Monday, October 3, 2011 Keller Williams Livingston Partners (225) 664-1911 [2] [3] Contracts Pending Off-Market in the Last 6 Months Absorption Rate [1] [4] For Sale Sold in the Last 6 Months Price Range Total Avg Avg Total Pending Total Total Avg Avg Orig Avg Avg List to Mos. Min. Max. Num DOM List Price Num Ratio Num Num DOM List Price List Price Sold Price Sales $0 $ 49,999 0 - - 0 - 0 2 19 $ - $ 20,050 $ 22,700 113.2% - $50,000 $ 99,999 0 - - 0 - 0 1 81 $ - $ 89,900 $ 77,000 85.7% - $100,000 $ 149,999 35 115 $ 132,100 15 30.0% 10 57 105 $ - $ 135,532 $ 133,460 98.5% 3.7 $150,000 $ 199,999 32 131 $ 172,233 12 27.3% 17 28 120 $ - $ 171,596 $ 167,729 97.7% 6.9 $200,000 $ 249,999 11 129 $ 223,954 1 8.3% 2 11 92 $ - $ 226,964 $ 222,973 98.2% 6.0 $250,000 $ 299,999 5 102 $ 274,940 1 16.7% 3 4 70 $ - $ 276,800 $ 277,000 100.1% 7.5 $300,000 $ 349,999 3 140 $ 333,267 1 25.0% 0 2 169 $ - $ 326,000 $ 314,750 96.5% 9.0 $350,000 $ 399,999 2 80 $ 384,700 0 - 2 0 - - - - - - $400,000 $ 449,999 1 150 $ 449,500 0 - 0 0 - - - - - - $450,000 $ 499,999 0 - - 0 - 0 0 - - - - - - $500,000 $ 549,999 0 - - 0 - 0 0 - - - - - - $550,000 $ 599,999 0 - - 0 - 0 0 - - - - - - $600,000 $ 649,999 0 - - 0 - 0 0 - - - - - - $650,000 $ 699,999 0 - - 0 - 0 0 - - - - - - $700,000 + 0 - - 0 - 0 0 - - - - - - Market Summary >>> 89 122 $ 181,931 30 25.2% 34 105 105 $ - $ 161,103 $ 158,250 98.2% 5.1 Date Range = 04/04/2011 to 10/03/2011 Data believed to be accurate but not guaranteed. Property Type = Dsf Search Area = 70706 Status = [1] A; [2] P; [3] X; [4] S Real Market Reports Market Summary Table RealMarketReports.com 3
  • REAL ESTATE MARKET REPORTDENHAM SPRINGS (70706) Monday, October 3, 2011 Keller Williams Livingston Partners (225) 664-1911 1. PROPERTIES FOR SALE a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Average Days on Market (DOM): The average 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. Average List Price: The average price that a 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 reoffer their property for sale. 4. PROPERTIES SOLD a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Average Days on Market (DOM): The average marketing time it has taken properties to sell in the last 6 months. c. Average Original List Price: The average price at which a sold property was originally marketed. d. Average List Price: The average price at which a sold property was marketed just prior to selling. e. Average Sold Price: The average 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 = Average Sold Price Average List Price 5. OTHER 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 Glossary RealMarketReports.com 4