October 2014 Market Report

REAL ESTATE MARKET REPORT
SINGLE FAMILY LAFAYETTE
Su M Tu W Th F Sa Tuesday, November 4
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TABLE OF CONTENTS
1
Charts and Commentary ……………………………………………….. Pages 1-2
Market Summary Table ……………………………………………….. Page 3
Glossary ………………………………………………………………... Page 4
Robbie Breaux & Team
Van Eaton & Romero - A Latter & Blum Company
2000 Kaliste Saloom Road, Ste 101
Lafayette, Louisiana 70508
www.RobbieBreaux.com
info@robbiebreaux.com
(337) 267-4099
Each Office Independently Owned & Operated
Licensed in Louisiana
breauxknows
breauxknows
broknoz
Real Market Reports
www.RealMarketReports.com

(337) 267-4099
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 185
listings. The median list price (or
asking price) for all properties in this
market is $235,000.
Number of Listings For Sale vs. Pending Contract
A total of 3136 contracts have closed
in the last 6 months with a median sold
price of $190,000. Breaking it down,
we notice that the $150K - $200K price
range contains the highest number of
sold listings.
Alternatively, a total of 990 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 262 properties.
"Current inventory is described
as mildly active."
at the real estate market. Currently
there are 408 sales pending in the
market overall, leaving 875 listings still
for sale. The resulting pending ratio is
31.8% (408 divided by 1,283). 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.
200
180
160
140
120
100
80
60
40
20
0
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Properties For Sale
Contracts Pending
1000
900
800
700
600
500
400
300
200
100
0
$0K
$50K
$100K
$150K
$200K
Num Sold vs. Off-Market (Last 6 mos.)
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
Off-Market
Single Family Lafayette
Let's take a look
Real Market Reports 1
Updated 11/4/2014, RealMarketReports.com
Copyright © Robbie Breaux & Team
Tuesday, November 4, 2014
Market Dashboard

(337) 267-4099
Median Days on Market (DOM)
Analysis of the absorption rate
indicates an inventory of 1.7 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.
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 93 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $190,000 and 52 days on
market. Notice that properties in the
$100K - $150K 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 $175,450 with a DOM of 69 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.
250
200
150
100
50
0
$0K
$50K
$100K
$150K
$200K
$250K
$300K
"The median list-to-sales ratio
for this area is 97.5%."
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.
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
For Sale
$205K
$200K
$195K
$190K
$185K
$180K
$175K
$170K
$165K
$160K
Median Sold Prices
Jun Jul Aug Sep Oct Nov
80
70
60
50
40
30
20
10
0
Median Days on Market (Sold)
Jun Jul Aug Sep Oct Nov
Market Dashboard

(337) 267-4099
990 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE
Num
#
3136 SOLD/CLOSED (last 6 months) [4]
Num
#
MARKET SUMMARY TABLE 408 PENDING [2]
Num
#
A A
M M
A A
M M
A A
M M
$ 179,615
A A
944
127 41% 262
M M
$ 225,737
A A
121 44%
M M
(months of inventory)
Final
List
Price
Sold/
Closed
Price
$ 132,975 $ 128,883 97%
$ 175,000 98%
Days
on
Market
Original
List
Price
107 $ 275,558
85 $ 270,298
A A
51
82 $ 276,300
309
34%
M M
38
$ 268,000
103 $ 325,005 $ 323,204
A A
16%
12
76 $ 320,000
M M
A A
112
$ 322,450 98%
79 $ 375,856 73 $ 381,750 $ 375,000 98%
M M
$ 434,049 113 $ 436,254
137
A A
74
$400,000 $449,999 38 7 16% 31
$ 373,988 98%
128 $ 436,450 72 $ 434,750 $ 425,000 98%
M M
$ 476,875 125 $ 484,162
165
A A
34
$450,000 $499,999 40 7 15% 28
$ 425,353 98%
159 $ 475,550 66 $ 481,500 $ 467,505 97%
M M
$ 529,245 96 $ 538,221
117
A A
21
$500,000 $549,999 12 3 20% 17
$ 470,780 97%
74 $ 531,800 65 $ 540,000 $ 520,000 96%
M M
$ 569,756 196 $ 591,280
142
A A
25
$550,000 $599,999 9 2 18% 17
$ 526,309 98%
154 $ 564,900 134 $ 584,500 $ 575,000 98%
M M
$ 620,060 141 $ 655,787
201
A A
18
$600,000 $649,999 5 0 6
$ 572,756 97%
230 $ 619,900 128 $ 649,700 $ 622,500 96%
M M
$ 678,039 147 $ 703,221
144
A A
15
$650,000 $699,999 13 3 19% 9
M M
$ 624,391 95%
$ 1,058,396 $ 1,001,165 $ 967,223 97%
201
143
A A
45
4 8% 58
$ 949,999
M M
$700,000 + 49
Market Totals 875 408 32%
Market Averages 130 $ 304,817
Date Range (Off-Market & Sold) = 05/06/2014 to 11/04/2014
Data believed to be accurate but not guaranteed.
0.8
1.5
1
1.2
1.5
2
2.9
3.4
3.1
7.1
3.4
2.2
1.7
5.2
6.5
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
$ 859,500 $ 835,000 97%
$ 221,609 98%
$ 190,000 97%
990 3136
238
150
94 $ 226,505
Market Medians 93 $ 235,000 52 $ 194,900
$ 680,113 97%
89 $ 679,000 107 $ 699,900 $ 685,000 98%
$200,000 $249,999 156
104
$ 180,000
$150,000 $199,999 185
123
107
36 30% 102
35 96%
$100,000 $149,999 84
147
Price Range Num
#
93%
$50,000 $99,999 45
176 $ 79,764
12 21%
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
875 ACTIVE [1]
List-
Sale
Ratio
Est.
Low High Mos.
$0 $49,999 10
165
71
Pend
Ratio
$ 38,780
3 23%
$ 40,000
8 79
104
52
$ 38,606 $ 33,712 87%
$ 41,000 $ 38,000
75 $ 80,214 $ 74,909 93%
92 $ 85,500 41 $ 79,900 $ 75,000 94%
529
72
95 $ 129,900
38 176
$ 128,854
$ 135,000 $ 130,000
91 $ 178,079 $ 175,236 98%
$ 178,700
58
$ 227,214
53
$ 227,000 $ 223,000 98%
621
96
70 $ 224,900
210
$ 223,800 98%
99%
$ 328,273
99%
98%
$ 381,788
108
$ 273,852
$ 270,000
62 $ 329,000
20
123
65
$ 376,024
$350,000 $399,999 63
128
$250,000 $299,999 101
$300,000 $349,999 65
1.7
134
89
24% 50
Favors Sellers Favors Buyers
Market Summary Table

1. PROPERTIES FOR SALE (ACTIVE)
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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

October 2014 Market Report

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