monthly indicatorsmonthly indicators september 2014 quick facts pause. one of the more encouraging...

Monthly Indicators

September 2014 Quick Facts

A RESEARCH TOOL PROVIDED BY METRO MLS FOR ACTIVITY IN THE 4-COUNTY MILWAUKEE METROPOLITAN AREA

+ 4.7%

Change inMedian Sales Price

+ 3.6%

Change inInventory

+ 1.2%

Change inClosed Sales

Markets across the nation seem to be back on the recovery track after a brief pause. One of the more encouraging aspects of this renewed recovery is that new construction of single-family homes reached six-year highs in August, according to the U.S. Commerce Department. Consumers are also finding more listings in their search results than they have in years. Inventory is rising in many neighborhoods as higher prices have motivated more sellers to list.

Market Overview 2New Listings 3Pending Sales 4Closed Sales 5Days on Market Until Sale 6Median Sales Price 7Average Sales Price 8

9Housing Affordability Index 10Inventory of Homes for Sale 11Months Supply of Inventory 12

Data is refreshed regularly to capture changes in market activity. Figures shown may be different than previously reported. Current as of October 10, 2014. All data from Metro MLS. Powered by 10K Research and Marketing.

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Percent of List Price Received

e g bo oods as g e p ces a e o a ed o e se e s o s

New Listings in the Milwaukee region increased 4.7 percent to 2,081. Pending Sales were down 23.0 percent to 949. Inventory levels rose 3.6 percent to 8,464 units.

Prices continued to gain traction. The Median Sales Price increased 4.7 percent to $178,000. Days on Market was up 1.2 percent to 78 days. Buyers felt empowered as Months Supply of Inventory was up 9.0 percent to 6.5 months.

The departure of investors from the scene should benefit first-time homebuyers, but student debt and sluggish wage growth have slowed that transition. The economy is growing, but it's growing at a slower pace than desired. Thankfully, inflation remains tame, partly enabling the Federal Reserve to keep rates low for longer, contrary to the forecasts of most economists.

Market Overview Key market metrics for the current month and year-to-date figures.

Key Metrics Historical Sparklines 9-2013 9-2014 + / – YTD 2013 YTD 2014 + / –

+ 1.2% 89 82 - 8.0%

+ 3.6%

1,232 949 - 23.0% 13,371 12,523 - 6.3%

20,9321,987 2,081 + 4.7% 20,202

1,382 1,399 + 1.2% 13,107

New Listings

Pending Sales

Closed Sales

Days on Market Until Sale

12,578 - 4.0%

77 78

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

All data comes from Metro MLS. for activity in the 4-County Milwaukee Metropolitan Area. Powered by 10K Research and Marketing. | Click for Cover Page | 2

6.0

176 - 1.0%

+ 3.6%

+ 9.0%

8,464

6.5

176

--

-- --

--

--Months Supplyof Homes for Sale

Inventory of Homes for Sale

+ 4.7% $172,000 $177,000

+ 0.4%

+ 2.9%

- 0.4% 93.3% 93.7%93.4% 93.0%

Housing Affordability Index

Median Sales Price

Average Sales Price

Percent of OriginalList Price Received

$207,959

178

8,167

177 + 0.8%

--

$206,707 $209,972 + 1.6%

$170,000 $178,000

$215,025 + 3.4%

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

9-2011 9-2012 9-2013 9-2014

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

MonthPrior Year

Current Year

+ / –

October 1,718 1,834 +6.8%

November 1,321 1,231 -6.8%

December 983 922 -6.2%

January 1,680 1,670 -0.6%

February 1,784 1,761 -1.3%

March 2,300 2,417 +5.1%

April 2,615 2,813 +7.6%

May 2,714 2,798 +3.1%

June 2,498 2,788 +11.6%

July 2,384 2,424 +1.7%

August 2,240 2,180 -2.7%

September 1,987 2,081 +4.7%

1,687

1,9872,081

September

19,498 20,202 20,932

Year To Date

+3.6%+17.8% +4.7% +3.6%

12-Month Avg 2,019 2,077 +2.9%

All data comes from Metro MLS for activity in the 4-County Milwaukee Metropolitan Area. Powered by 10K Research and Marketing. | Click for Cover Page | 3

2012 2013 2014

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical New Listing Activity

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October 1,182 1,220 +3.2%

November 974 978 +0.4%

December 856 853 -0.4%

January 1,042 915 -12.2%

February 1,185 1,041 -12.2%

March 1,485 1,320 -11.1%

April 1,691 1,657 -2.0%

May 1,834 1,755 -4.3%

June 1,729 1,783 +3.1%

July 1,638 1,742 +6.3%

August 1,535 1,361 -11.3%

September 1,232 949 -23.0%

1,1511,232

949

September

12,06213,371

12,523

Year To Date

-6.3%+7.0% -23.0% +10.9%

12-Month Avg 1,365 1,298 -4.9%


2012 2013 2014

300

600

900

1,200

1,500

1,800

2,100

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Pending Sales Activity

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October 1,284 1,319 +2.7%

November 1,111 1,021 -8.1%

December 1,001 1,074 +7.3%

January 795 785 -1.3%

February 882 820 -7.0%

March 1,331 1,136 -14.7%

April 1,459 1,336 -8.4%

May 1,770 1,625 -8.2%

June 1,821 1,870 +2.7%

July 1,877 1,877 0.0%

August 1,790 1,730 -3.4%

September 1,382 1,399 +1.2%

1,196

1,382 1,399

September

11,525

13,10712,578

Year To Date

-4.0%+15.6% +1.2% +13.7%

12-Month Avg 1,375 1,333 -3.1%


2012 2013 2014

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Closed Sales Activity

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October 100 82 -17.7%

November 100 84 -16.1%

December 99 91 -8.2%

January 106 93 -12.9%

February 107 97 -10.0%

March 106 98 -7.7%

April 103 87 -16.0%

May 87 85 -1.8%

June 83 74 -10.6%

July 77 73 -5.5%

August 81 77 -5.2%

September 77 78 +1.2%

101

77 78

September

108

8982

Year To Date

-8.0%-23.4% +1.2% -17.0%

12-Month Avg 91 83 -9.4%


2012 2013 2014

50

60

70

80

90

100

110

120

130

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Days on Market Until Sale

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October $162,000 $172,000 +6.2%

November $156,250 $163,500 +4.6%

December $150,000 $165,000 +10.0%

January $140,000 $155,000 +10.7%

February $145,000 $150,750 +4.0%

March $159,500 $163,250 +2.4%

April $167,000 $162,050 -3.0%

May $173,000 $176,000 +1.7%

June $190,000 $188,500 -0.8%

July $181,900 $190,000 +4.5%

August $180,500 $192,000 +6.4%

September $170,000 $178,000 +4.7%

$160,000$170,000

$178,000

September

$161,000$172,000 $177,000

Year To Date

+2.9%+6.3% +4.7% +6.8%

12-Month Med $169,900 $175,000 +3.0%


2012 2013 2014

$135,000

$145,000

$155,000

$165,000

$175,000

$185,000

$195,000

$205,000

$215,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Median Sales Price

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October $195,137 $200,459 +2.7%

November $189,758 $197,627 +4.1%

December $185,236 $203,400 +9.8%

January $181,435 $190,484 +5.0%

February $173,264 $177,034 +2.2%

March $189,811 $189,744 -0.0%

April $200,562 $191,873 -4.3%

May $202,321 $205,968 +1.8%

June $227,483 $227,066 -0.2%

July $221,213 $225,203 +1.8%

August $218,972 $226,266 +3.3%

September $207,959 $215,025 +3.4%

$196,322$207,959 $215,025

September

$190,703$206,707 $209,972

Year To Date

+ 1.6%+ 5.9% + 3.4% + 8.4%

12-Month Avg $203,375 $207,959 +2.3%


2012 2013 2014

$170,000

$180,000

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Average Sales Price

2012 2013 2014

Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

MonthPrior Year

Current Year

+ / –

October 90.3% 92.6% +2.5%

November 89.8% 91.8% +2.3%

December 89.8% 91.3% +1.7%

January 90.3% 91.8% +1.7%

February 89.6% 90.5% +1.0%

March 92.0% 92.4% +0.4%

April 93.0% 93.8% +0.8%

May 94.2% 93.9% -0.4%

June 94.7% 95.2% +0.6%

July 94.6% 94.8% +0.2%

August 93.7% 94.3% +0.7%

September 93.4% 93.0% -0.4%

90.7% 93.4% 93.0%

September

90.8% 93.3% 93.7%

Year To Date

+0.4%+3.0% -0.4% +2.7%

12-Month Avg 92.6% 93.3% +0.8%


2012 2013 2014

86%

88%

90%

92%

94%

96%

98%

100%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Percent of Original List Price Received

2012 2013 2014

Housing Affordability Index

MonthPrior Year

Current Year

+ / –

October 202 176 -12.7%

November 210 188 -10.6%

December 219 187 -14.9%

January 233 198 -15.1%

February 223 204 -8.4%

March 202 190 -6.0%

April 194 190 -2.0%

May 183 180 -2.1%

June 159 168 +5.3%

July 167 166 -0.4%

August 166 165 -0.1%

September 178 176 -1.0%

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.

204

178 176

September

203

176 177

Year To Date

+0.8%-12.8% -1.0% -13.3%

12-Month Avg 195 182 -5.7%


2012 2013 2014

90

110

130

150

170

190

210

230

250

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Housing Affordability Index

2012 2013 2014

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

MonthPrior Year

Current Year

+ / –

October 8,388 7,827 -6.7%

November 7,845 7,225 -7.9%

December 6,982 6,296 -9.8%

January 6,927 6,347 -8.4%

February 7,002 6,467 -7.6%

March 7,219 6,965 -3.5%

April 7,606 7,578 -0.4%

May 7,938 8,048 +1.4%

June 8,176 8,365 +2.3%

July 8,215 8,314 +1.2%

August 8,186 8,317 +1.6%

September 8,167 8,464 +3.6%

8,8528,167 8,464

September

+3.6%-7.7%

12-Month Avg 7,721 7,518 -2.8%


2012 2013 2014

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

13,000

14,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

Historical Inventory of Homes for Sale

Months Supply of Inventory 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.

MonthPrior Year

Current Year

+ / –

October 6.8 5.7 -15.3%

November 6.3 5.3 -15.8%

December 5.6 4.6 -17.2%

January 5.4 4.7 -14.2%

February 5.5 4.8 -12.0%

March 5.6 5.2 -7.0%

April 5.9 5.7 -3.2%

May 6.1 6.1 +0.6%

June 6.1 6.3 +2.7%

July 6.1 6.2 +2.2%

August 6.0 6.3 +4.5%

September 6.0 6.5 +9.0%

7.3

6.06.5

September

+9.0%-17.7%

12-Month Avg 5.9 5.6 -5.4%


2012 2013 2014

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 1-2013 1-2014

Historical Months Supply of Inventory

monthly indicatorsmonthly indicators september 2014 quick facts pause. one of the more encouraging...

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