Buy.Sell.Stay. July 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 August 2016
Executive Insights The Summer Heat is Cooling Down As we started ramping up the summer-selling season back in April of this year, we were predicting a hot market. Little did we know that it was going to be RED HOT! In fact, Intero saw the best month ever in units sold and dollar volume in its 14-year history during the month of June. When you hit all-time highs, things are bound to cool off, and that’s exactly what the Bay Area real estate market experienced last month. In July we saw a downward trend in inventory that impacted sold listings. Because the level of new for-sale listings was trending downward and buyers were being more cautious based on timing, sold listings were down in every region of the Bay Area. There were 14.16% less Bay Area homes sold in July (2369) then there was in June (2760). These numbers support a trend that the Bay Area is pulling back from an incredibly hot seller’s market to a more normal seller’s market. In what looks like a contradiction to this cooling trend is the fact that a majority of the Bay Area regions saw for-sale listings up from June to July. But unlike the last three months, the amount of for-sale listing increases were closer to flat than the huge double-digit percentages we were seeing previously. This is having an impact on the volume of sold listings we’re seeing. Also contributing to this cooling trend was seasonality. With the start of school just around the corner, most buyer and sellers are less motivated to move at this busy time of the year. This has more sellers staying put and not offering their property to the market because they don’t want to disrupt the start of their kid’s school year. Even though we’re seeing a more moderate market as we roll into August, it still remains very healthy. With unemployment figures near 8-year lows and a lack of inventory in the most desirable Bay Area locations, we will still see high demand with more buyers than listings. But in other areas, buyers will have more choice and be able to take a more deliberate approach in their buying decision. This will keep listings in those areas on the market a little longer than we’ve experienced in the last several years and force sellers to price more appropriately. We’ll continue to keep you informed with our take and hopefully provide you with information that can help in your buying or selling process.
By Tom Tognoli President & CEO Intero Real Estate Services
Market Highlights Hollister
Total Homes for Sale
90
Luxury Homes for Sale*
3
*Homes for sale above $3 million.
Total Homes Sold
Average Days on Market
Average List Price
Average Sold Price
51
$1,051,000
26
$503,000
Inventory Hollister
Total Number Of Homes:
For Sale
Sold
90 81
51 44
47
32
39
52
61
69
65 33
44 27
20
73
81 71
68 29
39
50
55 45
59 49
40
80
77
80 60
99
104
100
100
120
0 15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
15-Nov
15-Dec
16-Jan
16-Feb
16-Mar
16-Apr
16-May
16-Jun
16-Jul
It is a Seller’s Market Property Sales (Sold) July property sales were 51, up 2% from 50 in July of 2015 and 16.4% lower than the 61 sales last month. Current Inventory (For Sale) Versus last year, the total number of homes available this month is higher by 13 units of 16.9%. 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 down 10% compared to the previous month. Property Under Contract (Pended) There was an increase of 12% in the pended properties in July, with 56 properties versus 50 last month. This month’s pended property sales were 60% higher than at this time last year.
Inventory By The Numbers Home Price Range
Homes For Sale
Year Over Year % Difference
< $500K
28
0%
$500K $1M
50
22%
$1M - $3M
9
28.6%
$3M - $5M
1
N/A
$5M - $10M
1
N/A
$10M +
1
N/A
Pricing Hollister
Average Prices in $,000:
For Sale Price
Sold Price
1400 $1,104
1200
$1,179
$1,098
$1,070 $1,072
$1,106
$985
1000 $798
$858
800
$1,066 $968
$996
$1,001
$1,051
$785
600 400
$494
$492
$491
$490
$497
$513
15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
$578 $493
$519
$505
$525
$511
$529
$539
16-Jan
16-Feb
16-Mar
16-Apr
16-May
16-Jun
$503
200 0 15-Nov
15-Dec
16-Jul
The Average For Sale Price is Neutral The Average For Sale Price in July was $1,051,000, up 33.9% from $785,000 in July of 2015 and up 5% from $1,001,000 last month. The Average Sold Price is Neutral The Average Sold Price in July was $503,000, up 2.4% from $491,000 in July of 2015 and down 6.7% from $539,000 last month. The Median Sold Price is Neutral The Median Sold Price in July was $484,000, up 9% from $444,000 in July of 2015 and down 3.8% from $503,000 last month.
Pricing By The Numbers
Average Price Per Square Foot.
$263
-5.7% Month over Month
On The Market Hollister
Average Days On Market
60 47
50 40
39
35
49 44
43
39
38
37
47
34
33
32
26
30
26
20 10 0 15-May
15-Jun
15-Jul
15-Aug
15-Sep
15-Oct
15-Nov
15-Dec
16-Jan
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 Buyerâ&#x20AC;&#x2122;s market, a downward trend indicates a move towards more of a Sellerâ&#x20AC;&#x2122;s market. The DOM for July 2016 was 26, down 44.7% from 47 days last month and down 29.7% from 37 days in July of last year.
16-Feb
16-Mar
16-Apr
16-May
16-Jun
16-Jul
DOM By The Numbers Home Price Range
Days on Market
Year Over Year % Difference
< $500K
18
-89%
$500K $1M
36
-25%
$1M - $3M
0
N/A
$3M - $5M
0
N/A
$5M - $10M
0
N/A
$10M +
0
N/A