southeast montgomery_county

REAL ESTATE MARKET REPORT

SOUTHEAST MONTGOMERY COUNTY
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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


Monday, June 4, 2012 Jim Slack and Kendra Lee
832.304.3279

Let's 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 $50K - $100K price range has a
there are 78 sales pending in the a high ratio means that listings are in relatively large number of contracts
market overall, leaving 244 listings still demand and quickly going to contract. pending sale.
for sale. The resulting pending ratio is Alternatively, a low ratio means there
24.2% (78 divided by 322). So you are not enough qualified buyers for the We also notice that the $150K - $200K
might be asking yourself, that's great... existing supply. price range has a relatively large
but what exactly does it mean? I'm inventory of properties for sale at 48
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 $196,245.

Properties For Sale Number of Listings For Sale vs. Pending Contract
Contracts Pending Southeast Montgomery County
60
Updated on 6/4/2012, RealMarketReports.com
Copyright © Jim Slack and Kendra Lee
50

40

30

20

10

0
$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

$550K

$600K

$650K

$700K
A total of 189 contracts have closed in
Sold Num Sold vs. Off-Market (Last 6 mos.) the last 6 months with a median sold
Off-Market Southeast Montgomery County price of $163,000. Breaking it down,
50 we notice that the $150K - $200K price
45 Copyright © Jim Slack and Kendra Lee range contains the highest number of
40 sold listings.
35
30 Alternatively, a total of 91 listings have
failed to sell in that same period of
25
time. Listings may fail to sell for many
20
reasons such as being priced too high,
15 having been inadequately marketed,
10 the property was in poor condition, or
5 perhaps the owner had second
0 thoughts about selling at this particular
time. The $150K - $200K price range
$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

$550K

$600K

$650K

$700K

has the highest number of off-market
listings at 20 properties.

Real Market Reports 1 Market Dashboard


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 Southeast Montgomery County
a useful measurement because it can 1400
help us to determine whether we are Copyright © Jim Slack and Kendra Lee
1200
in a buyer's market (indicated by high
DOM), or a seller's market (indicated 1000
by low DOM). Active listings
(properties for sale) have been on the 800
market for a median time of 69 days. 600

Analysis of sold properties for the last 400
six months reveals a median sold
200
price of $163,000 and 61 days on
market. Notice that properties in the 0
$0K - $50K 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 $153,900 with a DOM of 51 days. for this area is 95.9%." indicates an inventory of 7.7 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)
Southeast Montgomery County Southeast Montgomery County
$200K 120
100
$150K
80
$100K 60
40
$50K
Copyright © Jim Slack and Kendra Lee 20 Copyright © Jim Slack and Kendra Lee
Updated on 6/4/2012, RealMarketReports.com 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


832.304.3279

ABSORPTION RATE
MARKET SUMMARY TABLE 78 PENDING [2] 91 OFF-MARKET (last 6 mos) [3] (months of inventory)
A = Average Value
M = Median Value
N/A = Not Available
244 ACTIVE [1] 189 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 79 $ 34,837 A 55 $ 42,647 $ 38,781 $ 35,145 91%
$0 $49,999 10 3 23% 4 19 3.2
M 60 $ 38,500 M 34 $ 39,900 $ 39,900 $ 35,425 89%
A 120 $ 82,376 A 70 $ 84,972 $ 77,755 $ 74,505 96%
$50,000 $99,999 29 15 34% 11 29 6
M 90 $ 82,900 M 71 $ 82,000 $ 77,900 $ 74,500 96%
A 115 $ 126,582 A 73 $ 135,308 $ 131,392 $ 125,086 95%
$100,000 $149,999 41 12 23% 18 32 7.7
M 90 $ 125,000 M 39 $ 134,800 $ 129,800 $ 125,000 96%
A 87 $ 176,348 A 127 $ 191,547 $ 181,429 $ 175,460 97%
$150,000 $199,999 48 15 24% 20 45 6.4
M 59 $ 176,220 M 99 $ 189,700 $ 185,362 $ 177,900 96%
A 72 $ 225,826 A 82 $ 245,224 $ 236,453 $ 223,930 95%
$200,000 $249,999 38 11 22% 16 30 7.6
M 57 $ 225,475 M 52 $ 239,381 $ 236,881 $ 226,250 96%
A 106 $ 275,344 A 156 $ 314,093 $ 289,096 $ 274,563 95%
$250,000 $299,999 33 10 23% 8 17 11.6
M 67 $ 279,000 M 52 $ 299,900 $ 270,237 $ 267,000 99%
A 113 $ 329,154 A 85 $ 358,735 $ 327,579 $ 314,556 96%
$300,000 $349,999 14 7 33% 3 9 9.3
M 51 $ 334,000 M 57 $ 364,900 $ 315,000 $ 310,000 98%
A 91 $ 380,616 A 61 $ 404,046 $ 404,046 $ 381,600 94%
$350,000 $399,999 10 0 3 5 12
M 79 $ 381,250 M 33 $ 399,000 $ 399,000 $ 389,000 97%
A 88 $ 431,389 A 87 $ 439,500 $ 437,000 $ 428,000 98%
$400,000 $449,999 9 1 10% 2 2 27
M 66 $ 429,900 M 87 $ 439,500 $ 437,000 $ 428,000 98%
A 196 $ 487,098 A 1257 $ 524,900 $ 524,900 $ 490,900 94%
$450,000 $499,999 4 2 33% 4 1 24
M 105 $ 489,450 M 1257 $ 524,900 $ 524,900 $ 490,900 94%
A 187 $ 525,000
$500,000 $549,999 2 1 33% 1 0
M 187 $ 525,000

$550,000 $599,999 0 1 N/A 0 0
A 51 $ 607,500
$600,000 $649,999 2 0 0 0
M 51 $ 607,500
A 897 $ 674,900
$650,000 $699,999 1 0 0 0
M 897 $ 674,900
A 336 $ 1,236,967
$700,000 + 3 0 1 0
M 129 $ 950,900

Market Totals 244 78 24% 91 189 7.7
Market Averages 106 $ 225,228 99 $ 188,217 $ 178,498 $ 170,361 95%
Market Medians 69 $ 196,245 61 $ 179,900 $ 169,900 $ 163,000 96%
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 = 77365, 77357
PropType = RES

Real Market Reports 3 Market Summary Table


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

southeast montgomery_county

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