september 2014 market report
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September 2014 Market ReportTRANSCRIPT
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TABLE OF CONTENTS
Charts and Commentary ……………………………………………….. Pages 1-2
Market Summary Table ……………………………………………….. Page 3
Glossary ………………………………………………………………... Page 4
30 3126 27 28 29
19 20 21 22
12 13 14 15
9 10 11
201416 17 18
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1
Th F Sa Tuesday, October 72 3 4
Su M Tu W
SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT
Robbie Breaux & TeamVan Eaton & Romero
2000 Kaliste Saloom Road, Ste 101
Lafayette, Louisiana 70508
www.RobbieBreaux.com
(337) 267-4099
broknoz
breauxknows
breauxknows
Real Market Reportswww.RealMarketReports.com
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SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT
at the real estate market. Currently
there are 457 sales pending in the
market overall, leaving 879 listings still
for sale. The resulting pending ratio is
34.2% (457 divided by 1,336). 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.
"Current inventory is described
as mildly active."
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 202
listings. The median list price (or
asking price) for all properties in this
market is $233,900.
A total of 2874 contracts have closed
in the last 6 months with a median sold
price of $194,500. Breaking it down,
we notice that the $150K - $200K price
range contains the highest number of
sold listings.
Alternatively, a total of 855 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 228 properties.
0
50
100
150
200
250
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Properties For Sale
Contracts Pending
0
100
200
300
400
500
600
700
800
900
1000
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
Off-Market
Single Family Lafayette
Number of Listings For Sale vs. Pending Contract
Single Family Lafayette
Num Sold vs. Off-Market (Last 6 mos.)
Let's take a look
1Real Market Reportswww.RealMarketReports.com
Updated 10/7/2014, RealMarketReports.comCopyright © Robbie Breaux & Team
Updated 10/7/2014, RealMarketReports.comCopyright © Robbie Breaux & Team
Tuesday, October 7, 2014
Market Dashboard
Robbie Breaux & TeamVan Eaton & Romero
(337) 267-4099
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SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT
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 98 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $194,500 and 50 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 $204,000 with a DOM of 75 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 98.7%."
Analysis of the absorption rate
indicates an inventory of 1.8 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.
0
50
100
150
200
250
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
For Sale
$180K
$185K
$190K
$195K
$200K
$205K
$210K
May Jun Jul Aug Sep Oct
0
10
20
30
40
50
60
70
80
May Jun Jul Aug Sep Oct
Single Family Lafayette
Median Days on Market (DOM)
Single Family Lafayette
Median Days on Market (Sold)
Single Family Lafayette
Median Sold Prices
2Real Market Reportswww.RealMarketReports.com
Updated 10/7/2014, RealMarketReports.comCopyright © Robbie Breaux & Team
Copyright © Robbie Breaux & TeamUpdated 10/7/2014, RealMarketReports.com
Copyright © Robbie Breaux & TeamUpdated 10/7/2014, RealMarketReports.com
Tuesday, October 7, 2014
Market Dashboard
Robbie Breaux & TeamVan Eaton & Romero
(337) 267-4099
![Page 4: September 2014 Market Report](https://reader037.vdocuments.us/reader037/viewer/2022100603/559431771a28abad7e8b457a/html5/thumbnails/4.jpg)
SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT
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) = 04/08/2014 to 10/07/2014
Data believed to be accurate but not guaranteed.
1.8
129
70
21% 41
$250,000 $299,999 107
$300,000 $349,999 56
377,930$ $350,000 $399,999 64
13217
128
59
382,914$
96
273,787$
270,000$
60 329,000$
223,884$ 99%
99%
328,375$
99%
99%
59192
68 225,000$ 195
98%
178,900$
58
227,236$
51
227,000$ 223,000$ 98%
135,000$ 130,299$
87 178,151$ 175,383$
124 88,000$ 39
45371
92 130,000$
25 140
129,419$
93%
79,900$ 75,000$ 94%
78 80,470$ 75,013$
38,237$ 33,403$ 87%
40,500$ 37,750$ 70
106
514 50%
40,270$ 7
MARKET SUMMARY TABLE 457 PENDING [2]
$0 $49,999 4313
150
Pend
Ratio
41,360$
Num
#
Num
#
Num
#
2874 SOLD/CLOSED (last 6 months) [4]
Days
on
Market
Original
List
Price
Final
List
Price
Sold/
Closed
Price
855 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE
(months of inventory)
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available879 ACTIVE
[1]
List-
Sale
Ratio
Est.
Mos.Low High
Price Range Num
#
93%
$50,000 $99,999 37213 83,992$
13 26%
$100,000 $149,999 85146
52 38% 8397%34
133,459$ 129,265$ 97%
179,900$ $150,000 $199,999 202
125
99
$200,000 $249,999 166101
877175,000$ 98%
226,111$ 119 42%
179,512$ 147 42% 228
2897899 270,476$
3832%
268,000$
93 324,221$ 19
275,259$ 51
70 275,000$
70 320,000$ 322,949$ 98%25%
323,727$
374,869$ 98%
79 377,813$ 73 384,200$ 375,250$ 98%104
$400,000 $449,999 31153 115 436,495$ 432,313$
10 24% 24425,856$ 98%
140 435,200$ 69 434,750$ 425,000$ 98%70
$450,000 $499,999 38166 114 485,806$ 477,946$
8 17% 26470,968$ 97%
138 476,800$ 65 485,000$ 467,000$ 96%31
$500,000 $549,999 11152 96 538,221$ 522,682$
4 27% 15526,309$ 98%
181 523,600$ 65 540,000$ 520,000$ 96%21
$550,000 $599,999 11155 196 591,280$ 569,264$
5 31% 16572,756$ 97%
167 565,000$ 134 584,500$ 575,000$ 98%25
$600,000 $649,999 5172 146 654,069$ 620,060$
1 17% 6623,473$ 95%
201 619,900$ 156 649,500$ 622,000$ 96%17
$650,000 $699,999 12172 147 703,221$ 686,034$
2 14% 8680,113$ 97%
109 691,450$ 107 699,900$ 685,000$ 98%15
$700,000 + 50210
170
1,119,804$ 5 9% 52
989,250$ 841,000$ 98%42
244
152
978,857$ 97%1,013,334$
91 230,400$
862,250$
855 2874
Market Averages 132 308,037$
Market Totals 879 457 34%
225,516$ 98%
Market Medians 98 233,900$ 50 197,000$
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
194,500$ 99%
0.3
1.6
1.1
1.4
1.7
2.2
2.6
3.7
1.8
4.8
7.1
2.7
7.4
3.1
2.6
3Real Market Reportswww.RealMarketReports.com
Tuesday, October 7, 2014
Market Summary Table
Robbie Breaux & TeamVan Eaton & Romero
(337) 267-4099
Favors Sellers Favors Buyers
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SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT
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
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Tuesday, October 7, 2014
Glossary
Robbie Breaux & TeamVan Eaton & Romero
(337) 267-4099