october 2014 market report

TABLE OF CONTENTS

Charts and Commentary ……………………………………………….. Pages 1-2

Market Summary Table ……………………………………………….. Page 3

Glossary ………………………………………………………………... Page 4

Su M Tu W Th F Sa Tuesday, November 41

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201413 14 15

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SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT

Robbie Breaux & TeamVan Eaton & Romero - A Latter & Blum Company

2000 Kaliste Saloom Road, Ste 101

Lafayette, Louisiana 70508

www.RobbieBreaux.com

[email protected]

(337) 267-4099

Each Office Independently Owned & Operated

Licensed in Louisiana

broknoz

breauxknows

breauxknows

Real Market Reportswww.RealMarketReports.com


Taking a closer look, we notice that

the $150K - $200K price range has a

relatively large number of contracts

pending sale.

We also notice that the $150K - $200K

price range has a relatively large

inventory of properties for sale at 185

listings. The median list price (or

asking price) for all properties in this

market is $235,000.

A total of 3136 contracts have closed

in the last 6 months with a median sold

price of $190,000. Breaking it down,

we notice that the $150K - $200K price

range contains the highest number of

sold listings.

Alternatively, a total of 990 listings

have failed to sell in that same period

of time. Listings may fail to sell for

many reasons such as being priced

too high, having been inadequately

marketed, the property was in poor

condition, or perhaps the owner had

second thoughts about selling at this

particular time. The $150K - $200K

price range has the highest number of

off-market listings at 262 properties.

"Current inventory is described

as mildly active."

at the real estate market. Currently

there are 408 sales pending in the

market overall, leaving 875 listings still

for sale. The resulting pending ratio is

31.8% (408 divided by 1,283). So you

might be asking yourself, that's great...

but what exactly does it mean? I'm

glad you asked!

The pending ratio indicates the supply

& demand of the market. Specifically,

a high ratio means that listings are in

demand and quickly going to contract.

Alternatively, a low ratio means there

are not enough qualified buyers for the

existing supply.

0

20

40

60

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$0K

$50K

$100K

$150K

$200K

$250K

$300K

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$450K

$500K

$550K

$600K

$650K

$700K

Properties For Sale

Contracts Pending

0

100

200

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500

600

700

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$0K

$50K

$100K

$150K

$200K

$250K

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$450K

$500K

$550K

$600K

$650K

$700K

Sold

Off-Market

Single Family Lafayette

Number of Listings For Sale vs. Pending Contract


Num Sold vs. Off-Market (Last 6 mos.)

Let's take a look

1Real Market Reportswww.RealMarketReports.com

Updated 11/4/2014, RealMarketReports.comCopyright © Robbie Breaux & Team


Tuesday, November 4, 2014

Market Dashboard

[email protected]


(337) 267-4099


Analysis of the absorption rate

indicates an inventory of 1.7 months

based on the last 6 months of sales.

This estimate is often used to

determine how long it would take to

sell off the current inventory of

properties if all conditions remained

the same. It is significant to mention

that this estimate does not take into

consideration any additional properties

that will come onto the market in the

future.

Looking at the chart to the right, you

might be wondering why average days

on market (DOM) is important. This is

a useful measurement because it can

help us to determine whether we are

in a buyer's market (indicated by high

DOM), or a seller's market (indicated

by low DOM). Active listings

(properties for sale) have been on the

market for a median time of 93 days.

Analysis of sold properties for the last

six months reveals a median sold

price of $190,000 and 52 days on

market. Notice that properties in the

$100K - $150K price range have sold

quickest over the last six months.

The recent history of sales can be

seen in the two charts below. The

median sold price for the last 30 days

was $175,450 with a DOM of 69 days.

Since the recent DOM is greater than

the median DOM for the last 6 months,

it is a negative indicator for demand. It

is always important to realize that real

estate markets can fluctuate due to

many factors, including shifting interest

rates, the economy, or seasonal

changes.

Ratios are simple ways to express the

difference between two values such as

list price and sold price. In our case,

we typically use the list-to-sale ratio to

determine the percentage of the final

list price that the buyer ultimately paid.

It is a very common method to help

buyers decide how much to offer on a

property.

"The median list-to-sales ratio

for this area is 97.5%."

0

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250

$0K

$50K

$100K

$150K

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$500K

$550K

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$650K

$700K

Sold

For Sale

$160K$165K$170K$175K$180K$185K$190K$195K$200K$205K

Jun Jul Aug Sep Oct Nov

0

10

20

30

40

50

60

70

80

Jun Jul Aug Sep Oct Nov


Median Days on Market (DOM)


Median Days on Market (Sold)


Median Sold Prices



Copyright © Robbie Breaux & TeamUpdated 11/4/2014, RealMarketReports.com

Copyright © Robbie Breaux & TeamUpdated 11/4/2014, RealMarketReports.com


Market Dashboard

[email protected]


(337) 267-4099


A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

Date Range (Off-Market & Sold) = 05/06/2014 to 11/04/2014

Data believed to be accurate but not guaranteed.

1.7

5.2

6.5

3.1

7.1

3.4

2.2

1.5

2

2.9

3.4

0.8

1.5

1

1.2

Status = [1] A; [2] C, P; [3] X, W; [4] S

Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P

Property Type = DETACHED SINGLE FAMILY

190,000$ 97%

221,609$ 98%

Market Medians 93 235,000$ 52 194,900$

990 3136

Market Averages 130 304,817$

Market Totals 875 408 32%

94 226,505$

859,500$ 835,000$ 97%45

238

150

967,223$ 97%1,001,165$ 1,058,396$ 4 8% 58

949,999$ $700,000 + 49

201

143

680,113$ 97%

89 679,000$ 107 699,900$ 685,000$ 98%15

147 703,221$ 678,039$ 3 19% 9$650,000 $699,999 13

144

624,391$ 95%

230 619,900$ 128 649,700$ 622,500$ 96%18

141 655,787$ 620,060$ 0 6$600,000 $649,999 5

201

572,756$ 97%

154 564,900$ 134 584,500$ 575,000$ 98%25

196 591,280$ 569,756$ 2 18% 17$550,000 $599,999 9

142

526,309$ 98%

74 531,800$ 65 540,000$ 520,000$ 96%21

96 538,221$ 529,245$ 3 20% 17$500,000 $549,999 12

117

470,780$ 97%

159 475,550$ 66 481,500$ 467,505$ 97%34

125 484,162$ 476,875$ 7 15% 28$450,000 $499,999 40

165

425,353$ 98%

128 436,450$ 72 434,750$ 425,000$ 98%74

113 436,254$ 434,049$ 7 16% 31$400,000 $449,999 38

137

373,988$ 98%

79 375,856$ 73 381,750$ 375,000$ 98%112

322,450$ 98%16%

323,204$ 103 325,005$ 12

275,558$ 51

82 276,300$

76 320,000$

30985107 270,298$

3834%

268,000$

944175,000$ 98%

225,737$ 121 44%

179,615$ 127 41% 262

$200,000 $249,999 156104

180,000$ $150,000 $199,999 185

123

107

36 30% 10296%35

132,975$ 128,883$ 97%$100,000 $149,999 84

147

Price Range Num

#

93%

$50,000 $99,999 45176 79,764$

12 21%

Days

on

Market

Current

List

Price

A = Average Value

M = Median Value

N/A = Not Available875 ACTIVE

[1]

List-

Sale

Ratio

Est.

Mos.Low High

990 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE

(months of inventory)

Num

#

Num

#

Num

#

3136 SOLD/CLOSED (last 6 months) [4]

Days

on

Market

Original

List

Price

Final

List

Price

Sold/

Closed

Price

MARKET SUMMARY TABLE 408 PENDING [2]

$0 $49,999 10165

71

Pend

Ratio

38,780$ 3 23%

40,000$ 8 79

104

52

38,606$ 33,712$ 87%

41,000$ 38,000$

75 80,214$ 74,909$ 93%

79,900$ 75,000$ 94%92 85,500$ 41

52972

95 129,900$

38 176

128,854$

135,000$ 130,000$

91 178,079$ 175,236$ 98%

178,700$

58

227,214$

53

227,000$ 223,000$ 98%621

96

70 224,900$ 210

223,800$ 98%

99%

328,273$

99%

98%

381,788$

108

273,852$

270,000$

62 329,000$

20123

65

376,024$ $350,000 $399,999 63

128

$250,000 $299,999 101

$300,000 $349,999 65

1.7

134

89

24% 50



Market Summary Table

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Favors Sellers Favors Buyers


1. PROPERTIES FOR SALE (ACTIVE)

a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase

agreement.

b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings

which have had a previous listing period, but were re-entered as a new listing.

c. Current List Price: The price that a property seller is currently asking.

2. CONTRACTS PENDING

a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.

b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under

contract vs. how fast they are being listed.

Pending Ratio = P (Number of Pending Listings)

A+P (Number of Active + Pending)

(P) represents properties that buyers have chosen

(A+P) represents the entire pool from which they have chosen

3. OFF-MARKET

a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some

owners may choose to re-offer their property for sale.

4. PROPERTIES SOLD (CLOSED CONTRACT)

a. Number Sold: The number of properties that have gone to a closing in the last 6 months.

b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.

c. Original List Price: The price at which a sold property was originally marketed.

d. Final List Price: The price at which a sold property was marketed just prior to selling.

e. Sold/Closed Price: The price for which a property sold.

f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.

List to Sales Ratio = Sold Price

Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY

a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.

For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of

inventory before counting the additional properties that will come on the market.

Real Market Reportswww.RealMarketReports.com

4


Glossary

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october 2014 market report

Real Estate