gbrar monthly indicators 04/2014
Post on 26-Apr-2017
216 Views
Preview:
TRANSCRIPT
April 2014 Activity Snapshot
One-Year Change in One-Year Change inClosed Sales Median Sales Price
23456789
101112
Click on desired metric to jump to that page.
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.
Pending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales PricePercent of List Price Received
The public has finally grown used to talk of a real estate market in recovery. With prices going up, people are starting to wonder if a new bubble is forming. Most metropolitan markets are somewhere between recovery and normalization. Supply is still tight but improving in some areas. What housing really needs is further job and wage growth to support healthy demand levels fueled by new household formations.
New Listings in Greater Baton Rouge decreased 0.6 percent to 1,259. Pending Sales were up 17.1 percent to 1,022. Inventory levels shrank 9.4 percent to 3,880 units.
Prices were still a bit soft. The Median Sales Price decreased 4.2 percent to $171,385. Days on Market remained flat at 91 days. Absorption rates improved as Months Supply of Inventory was down 17.2 percent to 5.3 months.
April's job growth was above expectations. Growth is likely to accelerate through the year, but the types of jobs being created is also important. We're producing more low-wage jobs as opposed to high-wage jobs. That's not conducive to increasing the number of potential buyers. It also means less disposable income sloshing around. Even so, some local markets may pause but are unlikely to falter thanks to suppressed supply levels and an improving sales mix. Don't confuse temporarily weak demand indicators for stagnation.
Homes for Sale
A research tool provided by the Greater Baton Rouge Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.
Activity OverviewNew Listings
Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Monthly Indicators
0.0% - 4.2% - 9.4%One-Year Change in
Activity Overview
Key Metrics Historical Sparkbars 4-2013 4-2014 Percent Change YTD 2013 YTD 2014 Percent Change
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 2
+ 0.1%
Affordability Index 157 151 - 3.8% 165 152 - 7.9%
Pct. of List Price Received 96.8% 97.1% + 0.3% 96.8% 96.9%
--
-- --
Homes for Sale 4,283 3,880 - 9.4% -- --
Months Supply 6.4 5.3 - 17.2% --
+ 0.1%
Average Sales Price $207,359 $200,636 - 3.2% $195,141 $195,817 + 0.3%
Median Sales Price $178,950 $171,385 - 4.2% $170,000 $170,250
+ 0.5%
Days on Market 91 91 0.0% 95 92 - 3.2%
Closed Sales 797 797 0.0% 2,570 2,582
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
New Listings 1,266 1,259 - 0.6% 4,373 - 6.8%
Pending Sales 873 1,022 + 17.1% 3,023 3,281 + 8.5%
4,693
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
4-2011 4-2012 4-2013 4-2014
New Listings
Prior Year Percent Change
May 2013 1,249 1,218 +2.5%
June 2013 1,181 1,115 +5.9%
July 2013 1,212 1,178 +2.9%
August 2013 1,179 999 +18.0%
September 2013 1,085 919 +18.1%
October 2013 1,066 1,072 -0.6%
November 2013 809 814 -0.6%
December 2013 668 608 +9.9%
January 2014 992 1,191 -16.7%
February 2014 1,000 1,023 -2.2%
March 2014 1,122 1,213 -7.5%
April 2014 1,259 1,266 -0.6%
12-Month Avg 1,069 1,051 +1.7%
Historical New Listings by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 3
A count of the properties that have been newly listed on the market in a given month.
New Listings
1,142 1,266 1,259
2012 2013 2014
April
0
1,000
2,000
3,000
4,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
4,379 4,693
4,373
2012 2013 2014
Year to Date
- 6.8% + 10.9% - 0.6% + 7.2% - 1.1% - 0.8%
Pending Sales
Prior Year Percent Change
May 2013 829 764 +8.5%
June 2013 770 691 +11.4%
July 2013 786 767 +2.5%
August 2013 753 583 +29.2%
September 2013 610 582 +4.8%
October 2013 687 650 +5.7%
November 2013 578 539 +7.2%
December 2013 492 479 +2.7%
January 2014 677 608 +11.3%
February 2014 683 666 +2.6%
March 2014 899 876 +2.6%
April 2014 1,022 873 +17.1%
12-Month Avg 732 673 +8.8%
Historical Pending Sales by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 4
A count of the properties on which offers have been accepted in a given month.
Pending Sales
790 873
1,022
2012 2013 2014
April
0
500
1,000
1,500
2,000
2,500
3,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
2,756 3,023
3,281
2012 2013 2014
Year to Date
+ 8.5% + 10.5% + 17.1% + 9.7% + 30.4% + 28.2%
Closed Sales
Prior Year Percent Change
May 2013 836 737 +13.4%
June 2013 852 772 +10.4%
July 2013 839 721 +16.4%
August 2013 902 618 +46.0%
September 2013 730 698 +4.6%
October 2013 662 650 +1.8%
November 2013 587 557 +5.4%
December 2013 643 537 +19.7%
January 2014 523 479 +9.2%
February 2014 606 536 +13.1%
March 2014 656 758 -13.5%
April 2014 797 797 0.0%
12-Month Avg 719 655 +9.8%
Historical Closed Sales by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 5
A count of the actual sales that closed in a given month.
Closed Sales
611
797 797
2012 2013 2014
April
0
500
1,000
1,500
2,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
2,193
2,570 2,582
2012 2013 2014
Year to Date
+ 0.5% + 30.4% 0.0% + 17.2% + 21.2% + 18.4%
Days on Market Until Sale
Prior Year Percent Change
May 2013 92 99 -7.1%
June 2013 81 91 -11.0%
July 2013 76 88 -13.6%
August 2013 78 104 -25.0%
September 2013 80 102 -21.6%
October 2013 85 95 -10.5%
November 2013 86 90 -4.4%
December 2013 79 86 -8.1%
January 2014 86 100 -14.0%
February 2014 94 99 -5.1%
March 2014 94 93 +1.1%
April 2014 91 91 0.0%
12-Month Avg* 85 95 -10.5%
Historical Days on Market Until Sale by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Average number of days between when a property is listed and when an offer is accepted in a given month.
Days on Market
* Average Days on Market of all properties from May 2013 through April 2014. This is not the average of the individual figures above.
101 91 91
2012 2013 2014
April
0
20
40
60
80
100
120
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
104 95 92
2012 2013 2014
Year to Date
- 3.2% - 9.9% 0.0% - 8.7% - 10.6% - 1.9%
Median Sales Price
Prior Year Percent Change
May 2013 $173,500 $170,000 +2.1%
June 2013 $177,900 $168,000 +5.9%
July 2013 $176,650 $171,707 +2.9%
August 2013 $176,000 $170,700 +3.1%
September 2013 $169,900 $169,900 0.0%
October 2013 $170,858 $166,150 +2.8%
November 2013 $174,000 $172,900 +0.6%
December 2013 $179,500 $165,000 +8.8%
January 2014 $167,500 $162,000 +3.4%
February 2014 $164,950 $172,450 -4.3%
March 2014 $177,900 $168,048 +5.9%
April 2014 $171,385 $178,950 -4.2%
12-Month Med* $174,000 $169,900 +2.4%
Historical Median Sales Price by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Median Sales Price
* Median Sales Price of all properties from May 2013 through April 2014. This is not the average of the individual figures above.
$163,385 $178,950
$171,385
2012 2013 2014
April
$0
$50,000
$100,000
$150,000
$200,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
$160,000 $170,000 $170,250
2012 2013 2014
Year to Date
+ 0.1% + 9.5% - 4.2% + 6.3% - 0.2% - 2.7%
Average Sales Price
Prior Year Percent Change
May 2013 $197,982 $196,757 +0.6%
June 2013 $203,750 $191,762 +6.3%
July 2013 $202,854 $194,814 +4.1%
August 2013 $202,850 $198,977 +1.9%
September 2013 $193,265 $197,728 -2.3%
October 2013 $197,266 $186,355 +5.9%
November 2013 $197,549 $205,357 -3.8%
December 2013 $203,204 $193,059 +5.3%
January 2014 $178,590 $174,690 +2.2%
February 2014 $193,480 $196,109 -1.3%
March 2014 $205,850 $194,552 +5.8%
April 2014 $200,636 $207,359 -3.2%
12-Month Avg* $198,791 $195,317 +1.8%
Historical Average Sales Price by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Average Sales Price
* Average Sales Price of all properties from May 2013 through April 2014. This is not the average of the individual figures above.
$186,352 $207,359 $200,636
2012 2013 2014
April
$0
$50,000
$100,000
$150,000
$200,000
$250,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
$184,212 $195,141 $195,817
2012 2013 2014
Year to Date
+ 0.3% + 11.3% - 3.2% + 5.9% - 5.6% - 2.7%
Percent of List Price Received
Prior Year Percent Change
May 2013 96.8% 97.1% -0.3%
June 2013 97.1% 96.6% +0.5%
July 2013 96.7% 97.0% -0.3%
August 2013 97.3% 97.0% +0.3%
September 2013 97.3% 97.2% +0.1%
October 2013 96.5% 96.4% +0.1%
November 2013 96.7% 96.2% +0.5%
December 2013 97.1% 96.5% +0.6%
January 2014 96.8% 96.3% +0.5%
February 2014 96.4% 97.2% -0.8%
March 2014 97.1% 96.9% +0.2%
April 2014 97.1% 96.8% +0.3%
12-Month Avg* 96.9% 96.8% +0.1%
Historical Percent of List Price Received by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Pct. of List Price Received
* Average Pct. of List Price Received for all properties from May 2013 through April 2014. This is not the average of the individual figures above.
96.8% 96.8% 97.1%
2012 2013 2014
April
95%
96%
97%
98%
99%
100%
101%
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
96.6% 96.8% 96.9%
2012 2013 2014
Year to Date
+ 0.1% 0.0% + 0.3% + 0.2% + 0.1% 0.0%
Housing Affordability Index
Prior Year Percent Change
May 2013 156 158 -1.3%
June 2013 144 161 -10.6%
July 2013 146 160 -8.8%
August 2013 145 160 -9.4%
September 2013 152 164 -7.3%
October 2013 151 166 -9.0%
November 2013 157 161 -2.5%
December 2013 145 170 -14.7%
January 2014 152 175 -13.1%
February 2014 157 160 -1.9%
March 2014 146 164 -11.0%
April 2014 151 157 -3.8%
12-Month Avg 150 150 0.0%
Historical Housing Affordability Index by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 10
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Affordability Index
163 157 151
2012 2013 2014
April
0
50
100
150
200
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
166 165 152
2012 2013 2014
Year to Date
- 7.9% - 3.7% - 3.8% - 0.6% + 10.1% + 12.9%
Inventory of Homes for Sale
Prior Year Percent Change
May 2013 4,358 4,701 -7.3%
June 2013 4,396 4,691 -6.3%
July 2013 4,430 4,670 -5.1%
August 2013 4,427 4,655 -4.9%
September 2013 4,506 4,518 -0.3%
October 2013 4,502 4,466 +0.8%
November 2013 4,379 4,359 +0.5%
December 2013 4,123 4,029 +2.3%
January 2014 4,064 4,207 -3.4%
February 2014 4,063 4,263 -4.7%
March 2014 3,963 4,239 -6.5%
April 2014 3,880 4,283 -9.4%
12-Month Avg* 4,258 4,423 -3.7%
Historical Inventory of Homes for Sale by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 11
The number of properties available for sale in active status at the end of a given month.
Homes for Sale
* Homes for Sale for all properties from May 2013 through April 2014. This is not the average of the individual figures above.
4,630 4,283
3,880
2012 2013 2014
April
0
1,000
2,000
3,000
4,000
5,000
6,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
- 7.5% - 9.4% - 10.3%
Months Supply of Inventory
Prior Year Percent Change
May 2013 6.4 7.7 -16.9%
June 2013 6.4 7.6 -15.8%
July 2013 6.5 7.4 -12.2%
August 2013 6.3 7.5 -16.0%
September 2013 6.4 7.2 -11.1%
October 2013 6.4 7.0 -8.6%
November 2013 6.2 6.8 -8.8%
December 2013 5.8 6.2 -6.5%
January 2014 5.7 6.4 -10.9%
February 2014 5.7 6.5 -12.3%
March 2014 5.5 6.4 -14.1%
April 2014 5.3 6.4 -17.2%
12-Month Avg* 6.0 6.9 -13.0%
Historical Months Supply of Inventory by Month
Current as of May 10, 2014. All data from the Greater Baton Rouge Association of REALTORS® MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 12
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Months Supply
* Months Supply for all properties from May 2013 through April 2014. This is not the average of the individual figures above.
7.7
6.4
5.3
2012 2013 2014
April
0
5
10
15
20
25
30
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014
- 16.9% - 17.2% - 29.4%
top related