REAL ESTATE MARKET REPORT
DUNCAN Jay Kinder Real Estate Experts
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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
DUNCAN Jay Kinder Real Estate Experts
Monday, April 11, 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 34 sales pending in the market overall, leaving 285 listings still for sale. The resulting pending ratio is 10.7% (34 divided by 319). 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 $75K - $100K 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 55 listings. The average list price (or asking price) for all properties in this market is $127,629.
Number of Listings For Sale vs. Under Contract
For Sale
Duncan
60
Updated on 04/11/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
50 40 30 20 10
Number of Sold vs. Expired (Last 6 mos.)
Sold Expired
Duncan
40
Updated on 04/11/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
35 30 25 20 15 10 5
$350K
$325K
$350K
$325K
$300K
$275K
A total of 164 contracts have closed in the last 6 months with an average sold price of $108,383. Breaking it down, we notice that the $25K - $50K price range contains the highest number of sold listings. Alternatively, a total of 200 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 $50K - $75K price range has the highest number of expired listings at 38 properties.
Market Dashboard
Real Market Reports www.RealMarketReports.com
$300K
$275K
$250K
$225K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$25K
0
$250K
$225K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$0K
$25K
0
1
REAL ESTATE MARKET REPORT
DUNCAN Jay Kinder Real Estate Experts
Monday, April 11, 2011
Average Days on Market (DOM)
Sold Active
Duncan
200 180 160 140 120 100 80 60 40 20 0
The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days was $111,100 with an average DOM of 166 days.
$350K
$325K
$300K
$275K
Analysis of the absorption rate indicates an inventory of 10.4 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 92.7%.'' 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 greater than the average 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.
$250K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$25K
Analysis of sold properties for the last six months reveals an average sold price of $108,383 and 136 days on market. Notice that properties in the $300K - $325K price range have sold quickest over the last six months.
Updated on 04/11/2011, RealMarketReports.com Copyright © Jay Kinder Real Estate Experts
$225K
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 104 days.
Continue to Market Summary Table…
Average Sold Prices
Average Days on Market (Sold)
Duncan
Duncan
$120K
200
$100K
150
$80K $60K
100
$40K $20K $0K Nov
50
Copyright © Jay Kinder Real Estate Experts Updated on 04/11/2011, RealMarketReports.com
Dec
Jan
Feb
0
Mar
Nov
Dec
Jan
Feb
Mar
Market Dashboard
Real Market Reports www.RealMarketReports.com
Copyright © Jay Kinder Real Estate Experts Updated on 04/11/2011, RealMarketReports.com
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REAL ESTATE MARKET REPORT
DUNCAN Jay Kinder Real Estate Experts
Monday, April 11, 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
5
67
$ 16,680
3
37.5%
5
17
112
$ 38,936
$ 36,476
$ 15,929
43.7%
1.8
$25,000
$ 49,999
34
115
$ 40,204
2
5.6%
30
29
144
$ 48,928
$ 43,204
$ 37,837
87.6%
7.0
$50,000
$ 74,999
45
107
$ 62,062
4
8.2%
38
20
110
$ 69,405
$ 66,790
$ 63,800
95.5%
13.5
$75,000
$ 99,999
55
86
$ 86,789
6
9.8%
31
21
132
$ 97,724
$ 92,248
$ 87,505
94.9%
15.7
$100,000
$ 124,999
36
111
$ 112,865
5
12.2%
19
17
124
$ 129,171
$ 121,488
$ 114,607
94.3%
12.7
$125,000
$ 149,999
26
139
$ 136,665
6
18.8%
22
17
130
$ 147,285
$ 139,997
$ 135,797
97.0%
9.2
$150,000
$ 174,999
20
103
$ 162,940
2
9.1%
15
15
185
$ 180,753
$ 169,620
$ 160,747
94.8%
8.0
$175,000
$ 199,999
23
129
$ 185,913
2
8.0%
9
6
168
$ 202,233
$ 191,383
$ 183,583
95.9%
23.0
$200,000
$ 224,999
8
70
$ 211,475
0
-
6
9
161
$ 242,033
$ 227,411
$ 214,056
94.1%
5.3
$225,000
$ 249,999
8
87
$ 234,500
0
-
10
6
129
$ 264,650
$ 249,650
$ 235,917
94.5%
8.0
$250,000
$ 274,999
7
114
$ 260,214
2
22.2%
3
3
160
$ 337,833
$ 269,967
$ 260,500
96.5%
14.0
$275,000
$ 299,999
8
54
$ 284,406
1
11.1%
5
0
-
-
-
-
-
-
$300,000
$ 324,999
1
31
$ 324,000
0
-
0
2
105
$ 358,500
$ 322,000
$ 300,000
93.2%
3.0
$325,000
$ 349,999
0
-
-
0
-
1
0
-
-
-
-
-
-
$350,000
+
9
94
$ 468,667
1
10.0%
6
2
152
$ 462,500
$ 442,500
$ 400,000
90.4%
27.0
285
104
$ 127,629
34
10.7%
200
164
136
$ 125,410
$ 116,874
$ 108,383
92.7%
10.4
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. 10/10/10 - 04/11/11 Active (ACT,UCS,TMPA,TMP,BC,BOM); Pending (PND,UC); Expired (EXP,WTH,UWT,CWT); Sold (SLD)
ADDINGTON, ALEX, BRAY, CENTRAL, CITYLAKE, COMANCHE, CORUM, COUNTYLINE, CYRIL, DEVOL, DUNCAN, ELGIN
Property Type: Single House, Condominium, Townhouse Special Condition: None Market Summary Table
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REAL ESTATE MARKET REPORT
DUNCAN Jay Kinder Real Estate Experts
Monday, April 11, 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
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