Buy.Sell.Stay. April 2016 Market Report Hollister
Š 2016 Intero Real Estate Services, Inc., a Berkshire Hathaway Affiliate and wholly owned subsidiary of HomeServices of America, Inc. All rights reserve. The logo is a registered trademark of Intero Real Estate Services, Inc. Information deemed reliable but not guaranteed. This is not intended as a solicitation if you are listed with another broker. Data Provided by Trendgraphix May 2016
Executive Insights Spring Smells Sweet for Sellers Like in years past, Spring seems to be the time when the gas pedal gets pushed down to the floor with regards to the Bay Area housing market. With kids getting out of school for the summer and families looking to make a move before the next school year starts, April tends to be the tipping point of the “red hot” real estate season. Traditionally we see an increase in listings starting in April and this year was no different. Listings were up in every part of the Bay Area, with most areas seeing double digit increases month over month. But with this flood of inventory hitting the market you might think this is going to become a buyer’s market, but that doesn’t look like the case. With the excellent job market and pent up demand for inventory, these increased listings are probably not going to silence the multiple offers and over asking prices in the desirable areas. But this influx of properties will allow some people that have been locked out of the market to dip their toes back in the buying pool. Another couple of factors that might play into this increased listings scenario are mortgage rates and rental prices. 30-year fixed mortgage rates are forecasted by the National Association of REALTORS® to rise by nearly a point by Q1 of 2017. If buyers find a desirable home sooner rather than later, they could potentially save thousands of dollars over the life of their loan. Especially in the Bay Area where the median home price is close to $650,000. This might make buyers more aggressive than they would be if rates were forecasted to stay flat. High rental prices could also impact the extra inventory that hits the market. With rents in some areas nearing the $6,000 a month range, this may have renters thinking seriously about becoming potential buyers. The rental scenario is especially interesting because it could impact some of the more moderately priced regions of the Bay Area. So yes we’re seeing an increase in listings across the Bay Area, but how will that impact your buying or selling decision over the next few months? We still need to remember that at the end of the day, real estate will always be local. For this reason, we have broken down the data in these reports and provided an easy to digest analysis for the area you might soon call home. So take a look and let us help you become a more informed home buyer or seller.
Market Highlights Hollister
Total Homes for Sale
104
Luxury Homes for Sale*
3
*Homes for sale above $3 million.
Total Homes Sold
Average Days on Market
Average List Price
Average Sold Price
$968,000
$510,000
45
35
Inventory Hollister
Total Number Of Homes:
For Sale
Sold
104
120
81 32
39
45
52
69
73 27
33
44
39
20
65
71
68 50
45
55
59 49
45
29
34
40
39
50
58
63
60
80
77
80
81
100
0 15-Feb
15-Mar
15-Apr
15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
15-Nov
15-Dec
16-Jan
16-Feb
16-Mar
16-Apr
It is a Seller’s Market Property Sales (Sold) April property sales were 45, the same as in April of 2015 and 13.5% lower than the 52 sales last month. Current Inventory (For Sale) Versus last year, the total number of homes available this month is higher by 46 units of 79.3%. This year’s bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory is up 28.4% compared to the previous month. Property Under Contract (Pended) There was a decrease of 7.1% in the pended properties in April, with 52 properties versus 56 last month. This month’s pended property sales were 6.1% higher than at this time last year.
Inventory By The Numbers Home Price Range
Homes For Sale
Year Over Year % Difference
< $500K
31
10.7%
$500K $1M
65
170.8%
$1M - $3M
5
0%
$3M - $5M
1
N/A
$5M - $10M
1
0%
$10M +
1
N/A
Pricing Hollister
Average Prices in $,000:
For Sale Price
Sold Price
1400 $1,104
1200
$1,098
$1,070 $1,072
$1,106
$985
1000 800
$1,179
$717
$858
$771
$798
$495
$476
$494
$492
$491
$490
$497
$513
15-Mar
15-Apr
15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
$771
$1,066 $968
$785
600 400
$449
$578 $493
$519
$505
$525
16-Jan
16-Feb
16-Mar
$510
200 0 15-Feb
15-Nov
15-Dec
16-Apr
The Average For Sale Price is Depreciating The Average For Sale Price in April was $968,000, up 25.6% from $771,000 in April of 2015 and down 9.2% from $1,066,000 last month. The Average Sold Price is Neutral The Average Sold Price in April was $510,000, up 7.1% from $476,000 in April of 2015 and down 2.9% from $525,000 last month.
Pricing By The Numbers
The Median Sold Price is Neutral The Median Sold Price in April was $480,000, up 3.2% from $465,000 in April of 2015 and down 2% from $490,000 last month.
Average Price Per Square Foot.
$272
0.7%
Month over Month
On The Market Hollister
Average Days On Market
60
53
55 47
50 36
40
39
35
49 44
43
39
38
37
33
35
26
30 20 10 0 15-Feb
15-Mar
15-Apr
15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
The Days on Market Shows Downward Trend The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for April 2016 was 35, down 10.3% from 39 days last month and down 2.8% from 36 days in April of last year. The Sold/Original List Price Ratio Remains Steady The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 97% is down 1% % from last month and down from 1% % in April of last year.
15-Nov
15-Dec
16-Jan
16-Feb
16-Mar
16-Apr
DOM By The Numbers Home Price Range
Days on Market
Year Over Year % Difference
< $500K
26
-12%
$500K $1M
51
6%
$1M - $3M
12
100%
$3M - $5M
0
N/A
$5M - $10M
0
N/A
$10M +
0
N/A