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REAL ESTATE MARKET REPORT

LAWTON Jay Kinder Real Estate Experts

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February

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TABLE OF CONTENTS Market Dashboard ………………………………………………. Number For Sale vs. Under Contract Number Sold vs. Expired Days on Market (Sold vs. Expired) Sold Listings - Prices (Last 6 Months) Sold Listings - Days on Market (Last 6 Months)

Pages 1-2

Market Summary Table

…………………………………………

Page 3

………………………………………………………….

Page 4

Glossary

Real Market Reports www.RealMarketReports.com


REAL ESTATE MARKET REPORT

LAWTON Jay Kinder Real Estate Experts

Monday, February 21, 2011

Let's take a look

Typically, a pending ratio indicates the supply and 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.

at the real estate market. Currently there are 182 sales pending in the market overall, leaving 829 listings still for sale. The resulting pending ratio is 18.0% (182 divided by 1,011). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

Contracts Pending

''The current inventory can best be described as sluggish.''

Taking a closer look, we notice that the $150K - $175K price range has a relatively large number of contracts pending sale. We also notice that the $75K - $100K price range has a relatively large inventory of properties for sale at 163 listings. The average list price (or asking price) for all properties in this market is $147,605.

Number of Listings For Sale vs. Under Contract

For Sale

Lawton

180

Updated on 02/21/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts

160 140 120 100 80 60 40 20

Number of Sold vs. Expired (Last 6 mos.)

Sold Expired

Lawton

140

Updated on 02/21/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts

120

$350K

$325K

$300K

$275K

$250K

$225K

$200K

$175K

$150K

$125K

$100K

$75K

$50K

$0K

$25K

0

A total of 536 contracts have closed in the last 6 months with an average sold price of $142,311. Breaking it down, we notice that the $75K - $100K price range contains the highest number of sold listings.

100 80 60 40 20 $350K

$325K

Market Dashboard

Real Market Reports www.RealMarketReports.com

$300K

$275K

$250K

$225K

$200K

$175K

$150K

$125K

$100K

$75K

$50K

$25K

0

Alternatively, a total of 589 listings have expired in that same period of time. Listings may expire 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 $75K - $100K price range has the highest number of expired listings at 120 properties.

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REAL ESTATE MARKET REPORT

LAWTON Jay Kinder Real Estate Experts

Monday, February 21, 2011

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, or properties for sale, have been on the market for an average of 124 days.

Average Days on Market (DOM)

Sold Active

Lawton

250

Updated on 02/21/2011, RealMarketReports.com Copyright © Jay Kinder Real Estate Experts

200 150 100

Analysis of sold properties for the last six months reveals an average sold price of $142,311 and 89 days on market. Notice that properties in the $0K - $25K price range have sold quickest over the last six months.

50

The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days was $138,279 with an average DOM of 87 days.

$350K

$325K

$300K

$275K

$250K

$225K

Analysis of the absorption rate indicates an inventory of 9.3 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 listings 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 on the market in the future.

''The average list-to-sales ratio for this area is 98.2%.'' 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.

Since the recent DOM is less than the average DOM for the last 6 months, it is a positive 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.

$200K

$175K

$150K

$125K

$100K

$75K

$50K

$25K

0

Continue to Market Summary Table…

Average Sold Prices

Average Days on Market (Sold)

Lawton $160K $140K $120K $100K $80K $60K $40K $20K $0K Sep

Lawton 120 100 80 60 40 20

Copyright © Jay Kinder Real Estate Experts Updated on 02/21/2011, RealMarketReports.com

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Jan

Sep

Oct

Nov

Dec

Jan

Market Dashboard

Real Market Reports www.RealMarketReports.com

Copyright © Jay Kinder Real Estate Experts Updated on 02/21/2011, RealMarketReports.com

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REAL ESTATE MARKET REPORT

LAWTON Jay Kinder Real Estate Experts

Monday, February 21, 2011

Expired Listings in the Last 6 Months*

Contracts Pending Properties For Sale Price Range

Absorption Rate

Properties Sold in the Last 6 Months*

Min.

Max.

Total Num

$0

$ 24,999

13

121

$ 18,969

6

31.6%

8

17

55

$ 22,459

$ 20,394

$ 16,242

79.6%

4.6

$25,000

$ 49,999

56

140

$ 41,157

20

26.3%

41

46

58

$ 43,853

$ 40,125

$ 37,484

93.4%

7.3

$50,000

$ 74,999

87

120

$ 64,288

19

17.9%

65

63

71

$ 66,365

$ 63,756

$ 62,181

97.5%

8.3

$75,000

$ 99,999

163

122

$ 88,270

21

11.4%

120

73

91

$ 92,870

$ 89,777

$ 87,747

97.7%

13.4

$100,000

$ 124,999

87

123

$ 113,593

15

14.7%

72

62

85

$ 120,419

$ 116,627

$ 114,106

97.8%

8.4

$125,000

$ 149,999

89

140

$ 138,056

18

16.8%

56

52

116

$ 144,253

$ 139,369

$ 137,657

98.8%

10.3

$150,000

$ 174,999

72

86

$ 162,394

25

25.8%

41

49

93

$ 167,978

$ 165,144

$ 162,251

98.2%

8.8

$175,000

$ 199,999

84

117

$ 187,825

21

20.0%

52

55

89

$ 195,371

$ 190,007

$ 187,675

98.8%

9.2

$200,000

$ 224,999

38

127

$ 212,383

11

22.4%

24

37

114

$ 217,945

$ 215,012

$ 214,492

99.8%

6.2

$225,000

$ 249,999

44

106

$ 238,848

8

15.4%

40

27

71

$ 242,475

$ 239,767

$ 236,189

98.5%

9.8

$250,000

$ 274,999

22

158

$ 260,768

7

24.1%

11

19

84

$ 266,511

$ 264,511

$ 260,237

98.4%

6.9

$275,000

$ 299,999

24

148

$ 291,315

4

14.3%

20

12

104

$ 297,496

$ 297,079

$ 287,967

96.9%

12.0

$300,000

$ 324,999

19

115

$ 317,917

2

9.5%

11

9

113

$ 341,856

$ 324,078

$ 314,923

97.2%

12.7

$325,000

$ 349,999

8

112

$ 337,038

2

20.0%

10

4

75

$ 342,625

$ 337,875

$ 337,375

99.9%

12.0

$350,000

+

23

171

$ 441,211

3

11.5%

18

11

191

$ 424,440

$ 421,134

$ 413,916

98.3%

12.5

829

124

$ 147,605

182

18.0%

589

536

89

$ 148,626

$ 144,970

$ 142,311

98.2%

9.3

Market Summary >>> *Dates: Status: Area:

Avg DOM

Avg List Price

Total Num

Pending Ratio

Total Num

Total Avg Avg Orig Num DOM List Price

Avg List Price

Avg Sold Price

List to Sales

Mos.

Data believed to be accurate but not guaranteed. 08/22/10 - 02/21/11 Active (ACT,UCS,TMPA,TMP,BC,BOM); Pending (PND,UC); Expired (EXP,WTH,UWT,CWT); Sold (SLD)

Apache, Cache, Elgin, Faxon, Fletcher, Geronimo, Indiahoma, Lawton, Meers, Medicine Park, Sterling, Walters, `=ConcRange

Property Type: CONDO/TOWNHOUSE, MANUF. HOME W/HUD LABEL, MANUF. HOME W/O HUD LABEL, MOBILE HOME, SINGL Special Condition: None Market Summary Table

Real Market Reports www.RealMarketReports.com

3


REAL ESTATE MARKET REPORT

LAWTON Jay Kinder Real Estate Experts

Monday, February 21, 2011

1. PROPERTIES FOR SALE a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Average Days on Market (DOM): The average 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. Average List Price: The average price that a 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. EXPIRED LISTINGS a. Number Expired: The number of listing agreements that have expired in the last 6 months. Some owners may choose to reoffer their property for sale. 4. PROPERTIES SOLD a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Average Days on Market (DOM): The average marketing time it has taken properties to sell in the last 6 months. c. Average Original List Price: The average price at which a sold property was originally marketed. d. Average List Price: The average price at which a sold property was marketed just prior to selling. e. Average Sold Price: The average 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 =

Average Sold Price Average List Price

5. OTHER 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.

Glossary

Real Market Reports www.RealMarketReports.com

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February 21, 2011 Lawton Market Trends Report