monthly market detail - august 2013 townhouses and condos ...rafgc.com/email/franklin...

Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.

Data released on Thursday, September 19, 2013. Next data release is Monday, October 21, 2013.

2.2%

(No Data) N/A

Percent Change

Year-over-Year

66.7%

55 -10.9%

Closed Sales

5

82.2%

16.1 -17.0%

August 2013

Average Sale Price

Median Days on Market

84.0%

2

Average Percent of Original List

Price Received

Pending Inventory

Inventory (Active Listings)

Month

49

Months Supply of Inventory 13.4

Summary Statistics

Closed Sales

Paid in Cash

$58,080

August 2013

5New Pending Sales

New Listings

Median Sale Price

August 2012Percent Change

Year-over-Year

2 1 100.0%

5 3 66.7%

7 -28.6%

$36,500 $97,500 -62.6%

9 2 350.0%

$146,000 -60.2%

58 71 -18.3%

Economists' note : Closed Sales are one of the simplest—yet most

important—indicators for the residential real estate market. When

comparing Closed Sales across markets of different sizes, we

recommend using the year-over-year percent changes rather than the

absolute counts. Realtors® and their clients should also be wary of

month-to-month comparisons of Closed Sales because of potential

seasonal effects.

April 2013 2

March 2013 5

February 2013 3

September 2012 7

August 2012 3

January 2013 3

December 2012 5

0.0%

November 2012 4

October 2012 1

100.0%

-75.0%

250.0%

-33.3%

0.0%

-40.0%

150.0%

-57.1%

July 2013 1 0.0%

-50.0%

400.0%

June 2013 3

May 2013 5

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A

Monthly Market Detail - August 2013

Franklin County Townhouses and Condos

0

2

4

6

8

10

Clo

sed

Sal

es

2009 2010 2011 2012 2013

Closed Sales The number of sales transactions which closed during the month



Month Cash SalesPercent Change

Year-over-Year

August 2013 2 100.0%

July 2013 1 N/A

June 2013 2 -60.0%

May 2013 3 N/A

Economists' note : Cash Sales can be a useful indicator of the extent to

which investors are participating in the market. Why? Investors are

far more likely to have the funds to purchase a home available up front,

whereas the typical homebuyer requires a mortgage or some other

form of financing. There are, of course, many possible exceptions, so

this statistic should be interpreted with care.

April 2013 1 0.0%

March 2013 3 50.0%

February 2013 1 -80.0%

January 2013 2 -33.3%

December 2012 2 0.0%

November 2012 2 N/A

October 2012 1 -50.0%

September 2012 3 N/A

August 2012 1 N/A

MonthPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

August 2013 40.0% 20.0%

July 2013 100.0% N/A

June 2013 66.7% -20.0%

May 2013 60.0% N/A

Economists' note : This statistic is simply another way of viewing

Cash Sales. The remaining percentages of Closed Sales (i.e. those not

paid fully in cash) each month involved some sort of financing, such as

mortgages, owner/seller financing, assumed loans, etc.

April 2013 50.0% 50.0%

March 2013 60.0% 50.0%

February 2013 33.3% -53.3%

January 2013 66.7% 11.1%

December 2012 40.0% -60.0%

November 2012 50.0% N/A

October 2012 100.0% 100.0%

September 2012 42.9% N/A

August 2012 33.3% N/A

0%

20%

40%

60%

80%

100%

120%

Pct

. of

Clo

sed

Sa

les

Pai

d in

Cas

h


0

2

4

6

8

Cas

h S

ale

s



2009 2010 2011 2012 2013


Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash

2009 2010 2011 2012 2013

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales



Month

MonthPercent Change

Year-over-YearNew Listings

-28.6%5July 2013

350.0%9August 2013

0.0%

133.3%

-28.6%

-33.3%

100.0%

-20.0%

-42.9%4May 2013

-63.6%4June 2013

-81.8%2August 2012

0.0%6September 2012

0.0%5October 2012

85.7%13November 2012

500.0%6

4

3

2

7

100.0%

0.0%

100.0%8

16.7%7

-50.0%4

0.0%5

100.0%

-50.0%

33.3%

-44.4%

33.3%

4

Percent Change

Year-over-YearNew Pending Sales

5

2

2

4

3

4

5

4

August 2013

July 2013

June 2013

May 2013

April 2013Economists' note : Because of the typical length of time it takes for a

sale to close, economists consider Pending Sales to be a decent

indicator of potential future Closed Sales. It is important to bear in

mind, however, that not all Pending Sales will be closed successfully.

So, the effectiveness of Pending Sales as a future indicator of Closed

Sales is susceptible to changes in market conditions such as the

availability of financing for homebuyers and the inventory of

distressed properties for sale.

Economists' note : In a recovering market, we expect that new listings

will eventually rise as sellers raise their estimations of value. But this

increase will take place only after the market has turned up, so New

Listings are a lagging indicator of the health of the market. Also be

aware of properties which have been withdrawn from the market and

then relisted. These are not really New Listings.

October 2012

September 2012

August 2012

March 2013

February 2013

January 2013

December 2012

November 2012

December 2012

January 2013

February 2013

March 2013

April 2013



0

5

10

15

20

25

30

Ne

w L

isti

ngs

0

2

4

6

8

10

Pe

nd

ing

Sale

s


2009 2010 2011 2012 2013


New Pending Sales The number of property listings that went from "Active" to "Pending" status during the month

2009 2010 2011 2012 2013

New Listings The number of properties put onto the market during the month



July 2013 $93,900 -22.3%

Median Sale PricePercent Change

Year-over-Year

August 2013 $36,500 -62.6%

Month

June 2013 $264,500 331.1%

May 2013 $103,000 24.8%

Economists' note : Median Sale Price is our preferred summary

statistic for price activity because, unlike Average Sale Price, Median

Sale Price is not sensitive to high sale prices for small numbers of

homes that may not be characteristic of the market area.

April 2013 $27,500 -71.8%

March 2013 $240,000 380.0%

February 2013 $130,000 36.8%

January 2013 $38,500 -68.4%

December 2012 $52,000 -80.0%

November 2012 $107,500 37.8%

October 2012 $7,000 -92.9%

July 2013 $93,900 -22.3%

September 2012 $135,000 56.1%

August 2012 $97,500 -2.5%

Average Sale PricePercent Change

Year-over-Year

August 2013 $58,080 -60.2%

Month

June 2013 $241,333 169.1%

May 2013 $121,500 47.3%

Economists' note : As noted above, we prefer Median Sale Price over

Average Sale Price as a summary statistic for home prices. However,

Average Sale Price does have its uses—particularly when it is analyzed

alongside the Median Sale Price. For one, the relative difference

between the two statistics can provide some insight into the market for

higher-end homes in an area.

April 2013 $27,500 -85.9%

March 2013 $185,100 252.7%

February 2013 $154,333 37.4%

January 2013 $60,000 -58.7%

December 2012 $137,200 -47.2%

November 2012 $123,750 58.7%

October 2012 $7,000 -93.7%

September 2012 $184,214 113.0%

August 2012 $146,000 17.4%

$0K

$100K

$200K

$300K

$400K

Ave

rage

Sal

e

Pri

ce


$0K

$100K

$200K

$300K

$400K

Me

dia

n S

ale

Pri

ce



2009 2010 2011 2012 2013


Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)

2009 2010 2011 2012 2013

Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)



July 2013 50 -67.3%

Median Days on

Market

Percent Change

Year-over-Year

August 2013 58 -18.3%

Month

June 2013 32 -90.8%

May 2013 122 183.7%

Economists' note : Median Days on Market is the amount of time the

"middle" property selling this month was on the market. That is, 50%

of homes selling this month took less time to sell, and 50% of homes

took more time to sell. We use the median rather than the average

because the median is not particularly sensitive to sales of homes that

took an unusually large amount of time to sell relative to the vast

majority of homes in the market.

April 2013 254 309.7%

March 2013 125 -17.8%

February 2013 170 -19.4%

January 2013 41 -82.5%

December 2012 94 40.3%

November 2012 115 -71.3%

October 2012 10 -90.1%

July 2013 89.5% -7.3%

September 2012 193 407.9%

August 2012 71 -87.8%

Avg. Pct. of Orig. List

Price Received

Percent Change

Year-over-Year

August 2013 84.0% 2.2%

Month

June 2013 98.8% 12.8%

May 2013 80.2% -7.7%

Economists' note : The Average Percent of Original List Price Received

is an indicator of market conditions, in that in a recovering market, the

measure rises as buyers realize that the market may be moving away

from them and they need to match the selling price (or better it) in

order to get a contract on the house. This is usually the last measure to

indicate a market that has shifted from down to up, and is another

lagging indicator.

April 2013 76.1% -20.5%

March 2013 90.6% 9.8%

February 2013 88.3% 1.0%

January 2013 93.3% 7.7%

December 2012 85.8% -13.7%

November 2012 84.8% -15.2%

October 2012 73.7% -22.8%

September 2012 82.3% -12.9%

August 2012 82.2% 17.3%

0%

20%

40%

60%

80%

100%

120%

Avg

. Pct

. o

f O

rig.

Li

st P

rice

R

ece

ive

d


0

200

400

600

800

Me

dia

n D

ays

on

M

arke

t



2009 2010 2011 2012 2013


Median Days on Market The median number of days that properties sold during the month were on the market

2009 2010 2011 2012 2013

Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during the month



July 2013 47 -24.2%

InventoryPercent Change

Year-over-Year

August 2013 49 -10.9%

Month

June 2013 46 -24.6%

May 2013 43 -25.9%

Economists' note : There are a number of ways to calculate Inventory,

so these numbers may not match up to others you see in your market.

We calculate Inventory by counting the number of active listings on the

last day of the month, and hold this number to compare with the same

month the following year.

April 2013 48 -23.8%

March 2013 46 -29.2%

February 2013 50 -23.1%

January 2013 52 -26.8%

December 2012 55 -32.9%

November 2012 57 -36.0%

October 2012 48 -44.2%

July 2013 13.4 -26.0%

September 2012 52 -42.2%

August 2012 55 -37.5%

Months SupplyPercent Change

Year-over-Year

August 2013 13.4 -17.0%

Month

June 2013 13.1 -17.4%

May 2013 11.5 -24.2%

Economists' note : This is an indicator of the state of the market,

whether it is a buyers' market or a sellers' market. The benchmark for

a balanced market (favoring neither buyer nor seller) is 5.5 Months of

Inventory. Higher numbers indicate a buyers' market, lower numbers

a sellers' market.

April 2013 14.0 -10.8%

March 2013 13.1 -20.8%

February 2013 14.3 -12.1%

January 2013 13.6 -34.7%

December 2012 13.8 -46.9%

November 2012 15.2 -45.9%

October 2012 13.4 -44.2%

September 2012 13.6 -49.8%

August 2012 16.1 -40.5%

0

50

100

150

Inve

nto

ry



2009 2010 2011 2012 2013


Inventory (Active Listings) The number of property listings active at the end of the month

10.0

20.0

30.0

40.0

50.0

60.0

70.0

Mo

nth

s Su

pp

ly o

f In

ven

tory

2009 2010 2011 2012 2013

Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates




$600,000 - $999,999 (No Sales) N/A

$1,000,000 or more (No Sales) N/A

Economists' note: Median Days on Market is the amount of time the

"middle" property selling this month was on the market. That is, 50%

of homes selling this month took less time to sell, and 50% of homes

took more time to sell. We use the median rather than the average

because the median is not particularly sensitive to sales of homes that

took an unusually large amount of time to sell relative to the vast

majority of homes in the market.

$150,000 - $199,999 (No Sales) N/A

$200,000 - $249,999 (No Sales) N/A

$250,000 - $299,999

$400,000 - $599,999 (No Sales) N/A

(No Sales) N/A

$300,000 - $399,999 (No Sales) N/A

Economists' note : Closed Sales are one of the simplest—yet most

important—indicators for the residential real estate market. When

comparing Closed Sales across markets of different sizes, we

recommend using the year-over-year percent changes rather than the

absolute counts. Realtors® and their clients should also be wary of

month-to-month comparisons of Closed Sales because of potential

seasonal effects.

Sale PriceMedian Days on

Market

Percent Change

Year-over-Year

Less than $50,000 51 N/A

$1,000,000 or more 0 N/A

$250,000 - $299,999 0 N/A

$300,000 - $399,999 0 N/A

$50,000 - $99,999 117 64.8%

$100,000 - $149,999

$400,000 - $599,999 0 N/A

$600,000 - $999,999 0 N/A

303 N/A

$150,000 - $199,999 0 N/A

$200,000 - $249,999 0 -100.0%

$100,000 - $149,999 1 N/A

Sale Price Closed SalesPercent Change

Year-over-Year


$50,000 - $99,999 1 -50.0%

0

50

100

150

200

250

300

350

Less than $50,000

$50,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 - $249,999

$250,000 - $299,999

$300,000 - $399,999

$400,000 - $599,999

$600,000 - $999,999

$1,000,000 or more

Me

dia

n D

ays

on

Mar

ket

0

50

100

150

200

250

300

350

0

1

2

3

4

5

Less than $50,000

$50,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 - $249,999

$250,000 - $299,999

$300,000 - $399,999

$400,000 - $599,999

$600,000 - $999,999

$1,000,000 or more

Clo

sed

Sal

es

0

1

2

3

4

5



Closed Sales by Sale Price The number of sales transactions which closed during the month

Median Days on Market by Sale Price The median number of days that properties sold during the month were on the market



$600,000 - $999,999 0 -100.0%

$1,000,000 or more 0 N/A

Economists' note: There are a number of ways to calculate Inventory,

so these numbers may not match up to others you see in your market.

We calculate Inventory by counting the number of active listings on the

last day of the month, and hold this number to compare with the same

month the following year.

$150,000 - $199,999 5 25.0%

$200,000 - $249,999 2 -60.0%

$250,000 - $299,999 11 83.3%

$300,000 - $399,999 5 -50.0%

$400,000 - $599,999 1 0.0%

$50,000 - $99,999 13 116.7%

$100,000 - $149,999 11 -21.4%

Current Listing Price InventoryPercent Change

Year-over-Year

Less than $50,000 1 -87.5%

$600,000 - $999,999 0 -100.0%

$1,000,000 or more 0 N/A

Economists' note: In a recovering market, we expect that new listings

will eventually rise as sellers raise their estimations of value. But this

increase will take place only after the market has turned up, so New

Listings are a lagging indicator of the health of the market. Also be

aware of properties which have been withdrawn from the market and

then relisted. These are not really New Listings.

$150,000 - $199,999 0 N/A

$200,000 - $249,999 0 N/A

$250,000 - $299,999 0 N/A

$300,000 - $399,999 0 N/A

$400,000 - $599,999 0 N/A

$50,000 - $99,999 6 N/A

$100,000 - $149,999 2 100.0%

Initial Listing Price New ListingsPercent Change

Year-over-Year


0

1

2

3

4

5

6

7

Less than $50,000

$50,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 - $249,999

$250,000 - $299,999

$300,000 - $399,999

$400,000 - $599,999

$600,000 - $999,999

$1,000,000 or more

Ne

w L

isti

ngs

0

1

2

3

4

5

6

7

0

2

4

6

8

10

12

14

Less than $50,000

$50,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 - $249,999

$250,000 - $299,999

$300,000 - $399,999

$400,000 - $599,999

$600,000 - $999,999

$1,000,000 or more

Inve

nto

ry

0

2

4

6

8

10

12

14



New Listings by Initial Listing Price The number of properties put onto the market during the month

Inventory by Current Listing Price The number of property listings active at the end of the month

Closed Sales

Median Sale Price

Closed Sales

Median Sale Price

Closed Sales

Median Sale Price

A

M

J

J

A

S

O

N

D

J

F

M

A

M

J

J



Short Sale

0 0 N/A

(No Sales) (No Sales) N/A

Foreclosure/REO

2 1 100.0%

$24,000 $97,500 -75.4%

August 2013 August 2012Percent Change

Year-over-Year

Traditional

3 2 50.0%

$89,900 $170,250 -47.2%

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

Me

dia

n S

ale

Pri

ce

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Clo

sed

Sal

es

Traditional Foreclosure/REO Short Sale

2009 2010 2011 2012 2013





0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

monthly market detail - august 2013 townhouses and condos ...rafgc.com/email/franklin...

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