garealtor stats june 2012

7/28/2019 GARealtor Stats June 2012

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Monthly IndicatorsA RESEARCH TOOL PROVIDED BY THE GEORGIA ASSOCIATION OF REALTORS

June 2012

Change in

Closed Sales

Change in

Median Sales Price

Change in

Inventory

Were halfway through 2012, and what a year its been. Residential real estate

has finally taken some meaningful strides toward recovery, and theyve all been

self-powered without divine (or governmental) intervention. Yes, there have

been some head fakes in the past, but there's real reason to believe that market

turnaround awaits us. Beyond home prices, key metrics to watch include Days

on Market, Percent of List Price Received and Months Supply of Inventory.

Quick Facts- 3.0% + 4.5% - 31.5%

2 Market Overview

3 New Listings

4 Pending Sales

5 Closed Sales

6 Days On Market Until Sale

7 Median Sales Price8 Average Sales Price

9

10 Housing Affordability Index

11 Inventory of Homes for Sale

12 Months Supply of Inventory

Data comes from the Georgia MLS, Columbus Board of REALTORS, Savannah MLS and Greater Augusta Association of REALTORS. Powered by 10K Research and Marketing. | 1

Click on desired metric to jump to that page.

Locally, several indicators showed improvement. Let's see what the rest of ourlocal data has to say.

New Listings in the state of Georgia decreased 16.4 percent to 11,623. Pending

Sales were up 21.8 percent to 9,730. Inventory levels shrank 31.5 percent to

48,344 units.

Prices moved higher. The Median Sales Price increased 4.5 percent to

$114,900. Days on Market was down 15.3 percent to 81 days. The supply-

demand balance stabilized as Months Supply of Inventory was down 42.8

percent to 6.6 months.

We seem to be at a critical inflection point in our attempts to spur more hiring.

Job growth provides the dual benefit of stimulating new household growth as

well as relieving distressed homeowners. There's also the positive feedback

loop of housing creating jobs and jobs creating housing. Keeping the

affordability picture afloat, the Fed has vowed to keep interest rates around 4.0

percent through mid-2013.

Percent of Original List Price Received


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Market OverviewKey market metrics for the current month and year-to-date.

Key Metrics Historical Sparklines 6-2011 6-2012 + / YTD 2011 YTD 2012 + /

42,632 + 10.8%

96 81Days on Market Until Sale

8,359 8,111 - 3.0% 38,493

New Listings

Pending Sales

Closed Sales

- 13.8%

7,990 9,730 + 21.8% 42,613 49,769 + 16.8%

73,97413,901 11,623 - 16.4% 85,791

- 15.3% 96 89 - 6.9%

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

Housing Affordability Index 220

70,608

238 + 5.8%

--

$148,633 $143,408 - 3.5%

$110,000 $114,900

$159,270

Median Sales Price

Average Sales Price

Percent of Original

List Price Received

+ 4.5%

$156,925 + 1.5%

89.3% 92.8%

$107,000 $100,000

+ 2.9%

- 6.5%

+ 4.0% 88.5% 91.1%

Data comes from the Georgia MLS, Columbus Board of REALTORS, Savannah MLS and Greater Augusta Association of REALTORS. Provided by the Georgia Association of REALTORS. Powered by 10K Research and Marketing. | Click for Cover Page | 2

225

--

-- --

--

--Months Supplyof Homes for Sale

215

- 31.5%

- 42.8%

48,344

6.611.5

Inventory of Homes for Sale

- 2.4%

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012

6-2009 6-2010 6-2011 6-2012


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New ListingsA count of the properties that have been newly listed on the market in a given month.

Month Prior Year

Current

Year+ /

July 15,064 11,994 -20.4%

August 14,574 12,894 -11.5%

September 13,102 11,512 -12.1%

October 12,846 11,327 -11.8%

November 11,325 9,768 -13.7%

December 11,391 8,707 -23.6%

January 14,215 12,022 -15.4%

February 13,439 11,770 -12.4%

March 16,204 13,460 -16.9%

April 14,202 13,048 -8.1%

May 13,830 12,051 -12.9%

June 13,901 11,623 -16.4%

15,552

13,901

11,623

June

94,089

85,791

73,974

Year To Date

-13.8%-10.6% -16.4% -8.8%

12-Month Avg 13,674 11,681 -14.6%


2010 2011 2012

5,000

7,500

10,000

12,500

15,000

17,500

20,000

22,500

25,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical New Listing Activity

2010 2011 2012


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Pending SalesA count of the properties on which contracts have been accepted in a given month.

Month Prior Year

Current

Year+ /

July 6,098 7,118 +16.7%

August 6,212 7,925 +27.6%

September 5,759 6,865 +19.2%

October 5,351 6,556 +22.5%

November 4,918 6,048 +23.0%

December 4,763 5,784 +21.4%

January 5,405 6,792 +25.7%

February 6,387 7,525 +17.8%

March 7,925 8,388 +5.8%

April 7,275 8,261 +13.6%

May 7,631 9,073 +18.9%

June 7,990 9,730 +21.8%

6,126

7,990

9,730

June

40,54742,613

49,769

Year To Date

+16.8%+30.4% +21.8% +5.1%

12-Month Avg 6,310 7,505 +19.5%


2010 2011 2012

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Pending Sales Activity

2010 2011 2012


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Closed SalesA count of the actual sales that have closed in a given month.

Month Prior Year

Current

Year+ /

July 6,157 7,337 +19.2%

August 6,189 7,878 +27.3%

September 5,934 7,391 +24.6%

October 5,582 6,744 +20.8%

November 5,136 6,058 +18.0%

December 5,851 6,790 +16.0%

January 4,073 5,490 +34.8%

February 4,895 6,184 +26.3%

March 6,957 7,675 +10.3%

April 6,755 7,234 +7.1%

May 7,454 7,938 +6.5%

June 8,359 8,111 -3.0%

7,8918,359

8,111

June

38,959 38,493

42,632

Year To Date

+10.8%+5.9% -3.0% -1.2%

12-Month Avg 6,112 7,069 +17.3%


2010 2011 2012

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Closed Sales Activity

2010 2011 2012


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Days on Market Until SaleAverage number of days between when a property is listed and when an offer is accepted in a given month.

Month Prior Year

Current

Year+ /

July 88 98 +11.2%

August 87 96 +10.1%

September 91 99 +8.8%

October 90 98 +9.1%

November 91 96 +5.8%

December 96 97 +1.0%

January 97 94 -2.7%

February 101 96 -5.1%

March 95 92 -3.3%

April 94 89 -5.8%

May 92 85 -8.0%

June 96 81 -15.3%

8996

81

June

9296

89

Year To Date

-6.9%+7.6% -15.3% +4.2%

12-Month Avg 93 93 +0.0%


2010 2011 2012

75

80

85

90

95

100

105

110

115

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Days on Market Until Sale

2010 2011 2012


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Median Sales PriceMedian price point for all closed sales, not accounting for seller concessions, in a given month.

Month Prior Year

Current

Year+ /

July $124,000 $113,900 -8.1%

August $115,000 $105,000 -8.7%

September $115,000 $95,000 -17.4%

October $112,000 $93,154 -16.8%

November $113,900 $95,300 -16.3%

December $117,000 $96,500 -17.5%

January $107,288 $87,000 -18.9%

February $102,500 $87,000 -15.1%

March $106,000 $99,000 -6.6%

April $105,168 $105,000 -0.2%

May $107,850 $109,100 +1.2%

June $110,000 $114,900 +4.5%

$125,000

$110,000$114,900

June

$120,000

$107,000$100,000

Year To Date

-6.5%-12.0% +4.5% -10.8%

12-Month Med $110,800 $100,000 -9.7%


2010 2011 2012

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Median Sales Price

2010 2011 2012


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Average Sales PriceAverage sales price for all closed sales, not accounting for seller concessions, in a given month.

Month Prior Year

Current

Year+ /

July $164,230 $157,785 -3.9%

August $153,960 $145,377 -5.6%

September $151,663 $135,972 -10.3%

October $149,867 $133,940 -10.6%

November $149,500 $136,276 -8.8%

December $157,537 $137,309 -12.8%

January $145,746 $126,337 -13.3%

February $141,755 $127,465 -10.1%

March $144,086 $139,105 -3.5%

April $146,360 $146,931 +0.4%

May $151,724 $152,304 +0.4%

June $156,925 $159,270 +1.5%

$162,390$156,925 $159,270

June

$155,199$148,633

$143,408

Year To Date

- 3.5%- 3.4% + 1.5% - 4.2%

12-Month Avg $151,505 $142,438 -6.0%


2010 2011 2012

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Average Sales Price

2010 2011 2012


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Percent of Original List Price Received

Month Prior Year

Current

Year+ /

July 90.7% 89.2% -1.6%

August 89.6% 88.7% -0.9%

September 88.4% 88.8% +0.5%

October 88.3% 88.7% +0.5%

November 88.0% 89.2% +1.4%

December 87.7% 89.1% +1.6%

January 87.4% 89.2% +2.1%

February 87.4% 89.0% +1.9%

March 87.9% 90.3% +2.7%

April 88.7% 91.5% +3.2%

May 89.1% 92.4% +3.7%

June 89.3% 92.8% +4.0%

Percentage found when dividing a propertys sales price by its original list price, then taking the average for all properties sold in a given month,

not accounting for seller concessions.

91.7% 89.3%92.8%

June

90.9% 88.5% 91.1%

Year To Date

+2.9%-2.6% +4.0% -2.7%

12-Month Avg 88.6% 90.0% +1.6%


2010 2011 2012

84%

86%

88%

90%

92%

94%

96%

98%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Percent of Original List Price Received

2010 2011 2012


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Housing Affordability Index

Month Prior Year

Current

Year+ /

July 199 215 +8.0%

August 215 230 +6.9%

September 218 249 +14.3%

October 220 255 +15.9%

November 219 251 +14.4%

December 213 249 +17.2%January 218 259 +18.5%

February 224 259 +15.6%

March 220 236 +7.5%

April 221 225 +2.0%

May 220 220 +0.1%

June 220 215 -2.4%

This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary

to qualify for the median-priced home under prevailing interest rates.A higher number means greater affordability.

199

220 215

June

206

225238

Year To Date

+5.8%+10.4% -2.4% +9.2%

12-Month Avg 217 239 +9.8%


2010 2011 2012

90

110

130

150

170

190

210

230

250

270

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Housing Affordability Index

2010 2011 2012


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Inventory of Homes for SaleThe number of properties available for sale in active status at the end of a given month..

Month Prior Year

Current

Year+ /

July 78,786 67,931 -13.8%

August 78,382 65,522 -16.4%

September 77,180 63,558 -17.6%

October 75,144 61,265 -18.5%

November 73,967 58,991 -20.2%

December 72,442 56,161 -22.5%

January 70,723 54,181 -23.4%

February 70,962 53,072 -25.2%

March 71,786 53,039 -26.1%

April 72,208 53,294 -26.2%

May 71,585 51,424 -28.2%

June 70,608 48,344 -31.5%

78,847

70,608

48,344

June

-31.5%-10.4%

12-Month Avg 73,648 57,232 -22.5%


2010 2011 2012

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

110,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Inventory of Homes for Sale


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Months Supply of InventoryThe inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

Month Prior Year

Current

Year+ /

July 12.0 10.8 -10.1%

August 12.1 10.2 -15.3%

September 12.1 9.7 -19.4%

October 11.9 9.2 -22.3%

November 12.0 8.8 -26.7%

December 11.8 8.2 -30.1%

January 11.5 7.8 -31.9%

February 11.6 7.6 -34.7%

March 11.7 7.4 -36.2%

April 11.8 7.4 -36.7%

May 12.0 7.1 -40.9%

June 11.5 6.6 -42.8%

11.8 11.5

6.6

June

-42.8%-2.5%

12-Month Avg 11.8 8.4 -28.8%


2010 2011 2012

2

4

6

8

10

12

14

16

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012

Historical Months Supply of Inventory

garealtor stats june 2012

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