gbrar monthly indicators 06/14

8/12/2019 GBRAR Monthly Indicators 06/14

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June 2014 Activity Snapshot

One-Year Change in One-Year Change in

Closed Sales Median Sales Price

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Click on desired metric to jump to that page.

Current as of July 10, 2 014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

Pending Sales

Closed Sales

Days on Market Until Sale

Median Sales Price

Average Sales Price

Percent of List Price Received

Housing seemed to have a slow start to the spring selling season, but

appearances deceive. Dig into that spring soil and you begin to unearth

differences in individual areas and market segments. Inventory is slowly rising in

some areas. Activity is picking up in the upper price tiers. Rents continue toclimb in most metros. And interest rates are generally lower than a year ago, to

the surprise of some and the delight of others.

New Listings in Greater Baton Rouge increased 12.9 percent to 1,333. Pending

Sales were up 34.9 percent to 1,039. Inventory levels shrank 8.8 percent to

4,017 units.

Prices forged onward. The Median Sales Price increased 4.8 percent to

$186,500. Days on Market remained flat at 81 days. Absorption rates improved

as Months Supply of Inventory was down 17.2 percent to 5.3 months.

Housing is one part of a broader ecosystem that thrives on a strong economy

that churns out good jobs. First-quarter employment figures were adequate but

not thrilling, but second-quarter numbers figure to be more positive. Access to

mortgage capital remains an ongoing concern. As cash and investor deals fade,

first-time buyers typically step to the forefront, but tight credit can and has been

a real hurdle.

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 Overview

New Listings

Housing Affordability Index

Inventory of Homes for Sale

Months Supply of Inventory

Monthly Indicators

+ 3.3% + 4.8% - 8.8%

One-Year Change in


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Activity Overview

Key Metrics Historical Sparkbars 6-2013 6-2014 Percent Change YTD 2013 YTD 2014 Percent Change

Current as of July 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

+ 0.2%

Affordability Index 144 142 - 1.4% 148 152 + 2.7%

Pct. of List Price Received 97.1% 97.6% + 0.5% 96.9% 97.1%

--

-- --

Homes for Sale 4,405 4,017 - 8.8% -- --

Months Supply 6.4 5.3 - 17.2% --

+ 1.2%

Average Sales Price $203,750 $208,913 + 2.5% $197,420 $200,494 + 1.6%

Median Sales Price $177,900 $186,500 + 4.8% $172,900 $175,000

+ 3.1%

Days on Market 81 81 0.0% 92 88 - 4.3%

Closed Sales 852 880 + 3.3% 4,258 4,390

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

New Listings 1,181 1,333 + 12.9% 6,989 - 1.9%

Pending Sales 770 1,039 + 34.9% 4,617 5,125 + 11.0%

7,123

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014

6-2011 6-2012 6-2013 6-2014


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New Listings

Prior Year Percent Change

July 2013 1,212 1,178 +2.9%

August 2013 1,179 999 +18.0%

September 2013 1,092 919 +18.8%

October 2013 1,070 1,072 -0.2%

November 2013 811 814 -0.4%

December 2013 670 608 +10.2%

January 2014 993 1,191 -16.6%

February 2014 1,005 1,023 -1.8%

March 2014 1,129 1,213 -6.9%

April 2014 1,280 1,266 +1.1%

May 2014 1,249 1,249 0.0%June 2014 1,333 1,181 +12.9%

12-Month Avg 1,085 1,059 +2.5%

Historical New Listings by Month


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

New Listings

1,1151,181

1,333

2012 2013 2014

June

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

6,7127,123 6,989

2012 2013 2014

Year to Date

- 1.9%+ 5.9% + 12.9% + 6.1%+ 2.4% + 1.4%


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Pending Sales


July 2013 786 767 +2.5%

August 2013 751 583 +28.8%

September 2013 610 582 +4.8%

October 2013 687 650 +5.7%

November 2013 573 538 +6.5%

December 2013 488 477 +2.3%

January 2014 669 606 +10.4%

February 2014 669 665 +0.6%

March 2014 845 875 -3.4%

April 2014 919 873 +5.3%

May 2014 984 828 +18.8%June 2014 1,039 770 +34.9%

12-Month Avg 752 685 +9.8%

Historical Pending Sales by Month


A count of the properties on which offers have been accepted in a given month.

Pending Sales

690770

1,039

2012 2013 2014

June

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

4,2104,617

5,125

2012 2013 2014

Year to Date

+ 11.0%+ 11.6% + 34.9% + 9.7%+ 7.6% + 22.7%


5/12

Closed Sales


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 588 557 +5.6%

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 808 797 +1.4%

May 2014 917 836 +9.7%June 2014 880 852 +3.3%

12-Month Avg 730 670 +9.0%

Historical Closed Sales by Month


A count of the actual sales that closed in a given month.

Closed Sales

772852 880

2012 2013 2014

June

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

3,702

4,258 4,390

2012 2013 2014

Year to Date

+ 3.1%+ 10.4% + 3.3% + 15.0%+ 14.0% + 18.9%


6/12

Days on Market Until Sale


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 92 91 +1.1%

May 2014 86 92 -6.5%June 2014 81 81 0.0%

12-Month Avg* 84 93 -9.7%

Historical Days on Market Until Sale by Month


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 July 2013 through June 2014. This

is not the average of the individual figures above.

91

81 81

2012 2013 2014

June

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

10092 88

2012 2013 2014

Year to Date

- 4.3%- 11.0% 0.0% - 8.0%- 9.9% - 5.7%


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Median Sales Price


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 $174,450 $172,900 +0.9%

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 $171,443 $178,950 -4.2%

May 2014 $176,000 $173,500 +1.4%June 2014 $186,500 $177,900 +4.8%

12-Month Med* $175,000 $171,000 +2.3%

Historical Median Sales Price by Month


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 July 2013 through June 2014. This is not

the average of the individual figures above.

$168,000$177,900

$186,500

2012 2013 2014

June

$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

$164,985$172,900 $175,000

2012 2013 2014

Year to Date

+ 1.2%+ 5.9% + 4.8% + 4.8%- 1.2% - 0.0%


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Average Sales Price


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 $197,744 $205,357 -3.7%

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 $200,839 $207,359 -3.1%

May 2014 $205,410 $197,982 +3.8%June 2014 $208,913 $203,750 +2.5%

12-Month Avg* $200,129 $196,696 +1.7%

Historical Average Sales Price by Month


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 July 2013 through June 2014. This is

not the average of the individual figures above.

$191,762$203,750 $208,913

2012 2013 2014

June

$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

$188,287$197,420 $200,494

2012 2013 2014

Year to Date

+ 1.6%+ 6.3% + 2.5% + 4.9%- 1.8% - 1.8%


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Percent of List Price Received


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%

May 2014 97.4% 96.8% +0.6%June 2014 97.6% 97.1% +0.5%

12-Month Avg* 97.0% 96.8% +0.2%

Historical Percent of List Price Received by Month


Percentage found when dividing a propertys sales price by i ts 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 July 2013 through June

2014. This is not the average of the individual figures above.

96.6% 97.1% 97.6%

2012 2013 2014

June

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

96.7% 96.9% 97.1%

2012 2013 2014

Year to Date

+ 0.2%+ 0.5% + 0.5% + 0.2%- 0.1% 0.0%


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Housing Affordability Index


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%

May 2014 151 156 -3.2%June 2014 142 144 -1.4%

12-Month Avg 150 150 0.0%

Historical Housing Affordability Index by Month


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

161

144 142

2012 2013 2014

June

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

164148 152

2012 2013 2014

Year to Date

+ 2.7%- 10.6% - 1.4% - 9.8%+ 10.3% + 9.3%


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Inventory of Homes for Sale


July 2013 4,439 4,671 -5.0%

August 2013 4,439 4,656 -4.7%

September 2013 4,525 4,519 +0.1%

October 2013 4,526 4,467 +1.3%

November 2013 4,410 4,361 +1.1%

December 2013 4,160 4,033 +3.1%

January 2014 4,111 4,213 -2.4%

February 2014 4,131 4,270 -3.3%

March 2014 4,095 4,247 -3.6%

April 2014 4,138 4,291 -3.6%

May 2014 4,085 4,367 -6.5%June 2014 4,017 4,405 -8.8%

12-Month Avg* 4,256 4,375 -2.7%

Historical Inventory of Homes for Sale by Month


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 July 2013 through June 2014. This is not

the average of the individual figures above.

4,6924,405

4,017

2012 2013 2014

June

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

- 6.1% - 8.8%- 9.0%


12/12

Months Supply of Inventory


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 5.9 6.2 -4.8%

January 2014 5.8 6.4 -9.4%

February 2014 5.8 6.5 -10.8%

March 2014 5.7 6.4 -10.9%

April 2014 5.8 6.4 -9.4%

May 2014 5.6 6.4 -12.5%June 2014 5.3 6.4 -17.2%

12-Month Avg* 6.0 6.7 -10.4%

Historical Months Supply of Inventory by Month


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 July 2013 through June 2014. This is not the

average of the individual figures above.

7.6

6.4

5.3

2012 2013 2014

June

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

- 15.8% - 17.2%- 25.5%

gbrar monthly indicators 06/14

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