August 2014 Market Report

REAL ESTATE MARKET REPORT
SINGLE FAMILY LAFAYETTE
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2014 TABLE OF CONTENTS
Charts and Commentary ……………………………………………….. Pages 1-2
Market Summary Table ……………………………………………….. Page 3
Glossary ………………………………………………………………... Page 4
Robbie Breaux & Team
Van Eaton & Romero
2000 Kaliste Saloom Road, Ste 101
Lafayette, Louisiana 70508
www.RobbieBreaux.com
info@robbiebreaux.com
(337) 267-4099
breauxknows
breauxknows
broknoz
Real Market Reports
www.RealMarketReports.com

at the real estate market. Currently
there are 494 sales pending in the
market overall, leaving 970 listings still
for sale. The resulting pending ratio is
33.7% (494 divided by 1,464). 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.
"Current inventory is described
as mildly active."
Van Eaton & Romero
(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 266
listings. The median list price (or
asking price) for all properties in this
market is $219,900.
Number of Listings For Sale vs. Pending Contract
A total of 2990 contracts have closed
in the last 6 months with a median sold
price of $191,600. Breaking it down,
we notice that the $150K - $200K price
range contains the highest number of
sold listings.
Alternatively, a total of 839 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 206 properties.
300
250
200
150
100
50
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 9/3/2014, RealMarketReports.com
Copyright © Robbie Breaux & Team
Wednesday, September 3, 2014
Market Dashboard

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 86 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $191,600 and 50 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 $202,900 with a DOM of 57 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.
180
160
140
120
100
80
60
40
20
Van Eaton & Romero
(337) 267-4099
Median Days on Market (DOM)
"The median list-to-sales ratio
for this area is 98.3%."
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.
Analysis of the absorption rate
indicates an inventory of 1.9 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.
0
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
For Sale
$205K
$200K
$195K
$190K
$185K
$180K
Median Sold Prices
Apr May Jun Jul Aug Sep
90
80
70
60
50
40
30
20
10
0
Median Days on Market (Sold)
Apr May Jun Jul Aug Sep
Market Dashboard

Van Eaton & Romero
(337) 267-4099
839 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
88 85 $ 270,273
A A
M M
A A
22%
M M
A A
108
M M
A A
70
M M
A A
28
M M
A A
20
M M
A A
25
M M
A A
16
M M
A A
16
M M
A A
43
M M
Price Range Num
#
Market Totals 970 494 34%
Date Range (Off-Market & Sold) = 03/05/2014 to 09/03/2014
Data believed to be accurate but not guaranteed.
(months of inventory)
2.7
8.6
5.4
2.2
1.9
130
75
28% 42
$250,000 $299,999 85
$300,000 $349,999 59
$ 377,585
$350,000 $399,999 59
131
23
$ 38,797 $ 34,019 88%
$ 41,000 $ 38,000
77 $ 79,579 $ 74,432
$ 133,114 $ 129,004 97%
87 $ 178,026 $ 175,217
118
57
$ 134,900 $ 130,000
$ 382,321
102
$ 273,736
$ 270,000
61 $ 328,450
$ 224,082 98%
99%
$ 328,141
99%
98%
603
91
71 $ 226,900
185
98%
$ 178,900
56
$ 227,496
51
$ 227,900 $ 223,840 98%
91 $ 80,000 41
492
71
67 $ 132,000
33 159
$ 129,531
94%
$ 79,500 $ 74,000 93%
71
106
57
2 14%
$ 44,950
7
MARKET SUMMARY TABLE 494 PENDING [2]
$0 $49,999 12
325
169
Pend
Ratio
$ 43,003
Num
#
Num
#
Num
#
2990 SOLD/CLOSED (last 6 months) [4]
Days
on
Market
Original
List
Price
Final
List
Price
Sold/
Closed
Price
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
970 ACTIVE [1]
List-
Sale
Ratio
Est.
Low High Mos.
93%
$50,000 $99,999 49
228 $ 77,822
11 18%
$100,000 $149,999 97
127
52 35% 96
34 96%
$ 184,500
$150,000 $199,999 266
178
90
$200,000 $249,999 171
119
910
$ 175,000 98%
$ 226,760
134 44%
$ 180,956
150 36% 206
299
38
39%
$ 268,000
103 $ 320,688
17
$ 276,067
55
85 $ 276,300
$ 323,158
73 $ 317,000 $ 322,450 98%
$ 374,168 98%
67 $ 375,856 62 $ 382,950 $ 375,000 98%
$400,000 $449,999 32
145 $ 432,078 117 $ 437,213
20 38% 25
$ 425,953 97%
117 $ 436,050 77 $ 437,500 $ 426,000 97%
$450,000 $499,999 40
145 $ 477,479 117 $ 484,143
12 23% 23
$ 469,107 97%
106 $ 474,950 46 $ 478,716 $ 463,500 97%
$500,000 $549,999 18
151 $ 524,253 100 $ 538,182
5 22% 13
$ 526,624 98%
162 $ 521,680 71 $ 543,750 $ 522,500 96%
$550,000 $599,999 9
164 $ 578,722 196 $ 591,280
4 31% 15
$ 572,756 97%
156 $ 575,000 134 $ 584,500 $ 575,000 98%
$600,000 $649,999 6
95 $ 620,467 145 $ 652,761
1 14% 6
$ 622,753 95%
93 $ 622,400 128 $ 649,500 $ 620,123 95%
$650,000 $699,999 11
122 $ 678,092 142 $ 701,457
2 15% 8
$ 678,231 97%
84 $ 689,000 105 $ 699,700 $ 685,000 98%
$700,000 + 56
241
156
$ 1,103,198
6 10% 48
240
150
$ 994,647 $ 961,582 97%
$ 964,950 $ 850,000
$ 825,000 97%
91 $ 227,433
839 2990
Market Averages 151 $ 297,938
$ 222,571 98%
Market Medians 86 $ 219,900 50 $ 195,000
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
$ 191,600 98%
1
1.8
1.2
1.8
1.7
1.7
2.7
3.3
2.3
4.1
7.8
Favors Sellers Favors Buyers
Market Summary Table

1. PROPERTIES FOR SALE (ACTIVE)
Van Eaton & Romero
(337) 267-4099
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

August 2014 Market Report

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