Kingwood Market

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Kingwood Market

  1. 1. REAL ESTATE MARKET REPORTTHE KINGWOOD MARKET REPORT 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 REPORTTHE KINGWOOD MARKET REPORT 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 $100K - $150K price range has a there are 168 sales pending in the a high ratio means that listings are in relatively large number of contracts market overall, leaving 436 listings still demand and quickly going to contract. pending sale. for sale. The resulting pending ratio is Alternatively, a low ratio means there 27.8% (168 divided by 604). 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 99 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 $210,500. Properties For Sale Number of Listings For Sale vs. Pending Contract Contracts Pending The Kingwood Market Report 120 Updated on 6/4/2012, RealMarketReports.com Copyright © Jim Slack and Kendra Lee 100 80 60 40 20 0 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K A total of 392 contracts have closed in Sold Num Sold vs. Off-Market (Last 6 mos.) the last 6 months with a median sold Off-Market The Kingwood Market Report price of $168,000. Breaking it down, 140 we notice that the $100K - $150K price Updated on 6/4/2012, RealMarketReports.com 120 Copyright © Jim Slack and Kendra Lee range contains the highest number of sold listings. 100 Alternatively, a total of 136 listings 80 have failed to sell in that same period 60 of time. Listings may fail to sell for many reasons such as being priced 40 too high, having been inadequately marketed, the property was in poor 20 condition, or perhaps the owner had 0 second thoughts about selling at this particular time. The $100K - $150K $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K price range has the highest number of off-market listings at 43 properties. Real Market Reports 1 Market Dashboard RealMarketReports.com
  3. 3. REAL ESTATE MARKET REPORTTHE KINGWOOD MARKET REPORT 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 The Kingwood Market Report a useful measurement because it can 350 Updated on 6/4/2012, RealMarketReports.com help us to determine whether we are Copyright © Jim Slack and Kendra Lee 300 in a buyers market (indicated by high DOM), or a sellers market (indicated 250 by low DOM). Active listings (properties for sale) have been on the 200 market for a median time of 54 days. 150 Analysis of sold properties for the last 100 six months reveals a median sold 50 price of $168,000 and 45 days on market. Notice that properties in the 0 $650K - $700K 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 $174,900 with a DOM of 31 days. for this area is 96.9%." indicates an inventory of 6.7 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) The Kingwood Market Report The Kingwood Market Report $200K 90 80 $150K 70 60 50 $100K 40 30 $50K 20 Copyright © Jim Slack and Kendra Lee Copyright © Jim Slack and Kendra Lee Updated on 6/4/2012, RealMarketReports.com 10 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 REPORTTHE KINGWOOD MARKET REPORT 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 168 PENDING [2] 136 OFF-MARKET (last 6 mos) [3] (months of inventory) A = Average Value M = Median Value N/A = Not Available 436 ACTIVE [1] 392 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 61 $ 41,950 $ 41,950 $ 32,450 77% $0 $49,999 0 0 0 2 N/A M 61 $ 41,950 $ 41,950 $ 32,450 77% A 84 $ 88,659 A 64 $ 94,224 $ 85,885 $ 82,273 96% $50,000 $99,999 14 14 50% 2 36 2.3 M 57 $ 89,164 M 45 $ 95,000 $ 85,650 $ 84,500 99% A 74 $ 127,292 A 84 $ 136,312 $ 131,187 $ 127,656 97% $100,000 $149,999 94 42 31% 43 115 4.9 M 53 $ 128,400 M 66 $ 135,000 $ 130,000 $ 127,000 98% A 71 $ 171,022 A 68 $ 178,511 $ 174,721 $ 170,335 97% $150,000 $199,999 99 39 28% 37 83 7.2 M 46 $ 165,000 M 44 $ 175,000 $ 171,950 $ 167,000 97% A 60 $ 227,377 A 59 $ 234,443 $ 227,483 $ 222,469 98% $200,000 $249,999 74 27 27% 23 53 8.4 M 42 $ 225,000 M 36 $ 229,900 $ 225,000 $ 221,000 98% A 78 $ 276,149 A 63 $ 282,343 $ 274,259 $ 268,276 98% $250,000 $299,999 58 16 22% 13 37 9.4 M 62 $ 275,000 M 40 $ 279,900 $ 275,000 $ 265,000 96% A 62 $ 327,939 A 80 $ 347,347 $ 332,360 $ 321,893 97% $300,000 $349,999 23 8 26% 4 15 9.2 M 37 $ 329,900 M 42 $ 349,900 $ 329,900 $ 320,000 97% A 85 $ 370,502 A 92 $ 396,700 $ 380,780 $ 368,833 97% $350,000 $399,999 12 7 37% 2 15 4.8 M 93 $ 366,250 M 41 $ 379,900 $ 374,900 $ 365,000 97% A 108 $ 433,566 A 44 $ 439,088 $ 437,242 $ 423,665 97% $400,000 $449,999 20 4 17% 5 13 9.2 M 95 $ 438,413 M 17 $ 445,000 $ 444,000 $ 417,500 94% A 109 $ 478,989 A 83 $ 497,755 $ 489,382 $ 477,572 98% $450,000 $499,999 9 1 10% 2 10 5.4 M 18 $ 485,000 M 45 $ 494,900 $ 489,450 $ 477,724 98% A 91 $ 532,372 A 98 $ 539,367 $ 554,930 $ 515,314 93% $500,000 $549,999 5 1 17% 0 5 6 M 54 $ 532,061 M 31 $ 525,000 $ 555,215 $ 515,000 93% A 96 $ 575,117 A 264 $ 647,967 $ 591,633 $ 579,333 98% $550,000 $599,999 6 1 14% 1 3 12 M 75 $ 577,000 M 321 $ 598,900 $ 595,000 $ 570,000 96% A 328 $ 621,950 A $ 619,900 $ 619,900 $ 612,000 99% $600,000 $649,999 2 2 50% 1 1 12 M 328 $ 621,950 M $ 619,900 $ 619,900 $ 612,000 99% A 178 $ 681,483 A 20 $ 674,950 $ 674,950 $ 660,000 98% $650,000 $699,999 7 0 1 2 21 M 94 $ 689,900 M 20 $ 674,950 $ 674,950 $ 660,000 98% A 180 $ 971,746 A 34 $ 1,029,450 $ 1,024,950 $ 955,875 93% $700,000 + 13 6 32% 2 2 39 M 172 $ 894,000 M 34 $ 1,029,450 $ 1,024,950 $ 955,875 93% Market Totals 436 168 28% 136 392 6.7 Market Averages 80 $ 258,511 73 $ 222,848 $ 216,358 $ 210,114 97% Market Medians 54 $ 210,500 45 $ 179,700 $ 173,325 $ 168,000 97% 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 = 77339, 77345 PropType = RES Real Market Reports 3 Market Summary Table RealMarketReports.com
  5. 5. REAL ESTATE MARKET REPORTTHE KINGWOOD MARKET REPORT 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

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