REAL ESTATE MARKET REPORT
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Monday, May 2
2011
TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Market Summary Table ……………………………………………….. Glossary ………………………………………………………………...
Jay Kinder Real Estate Experts
Real Market Reports RealMarketReports.com
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REAL ESTATE MARKET REPORT
DUNCAN Monday, May 2, 2011
Jay Kinder Real Estate Experts
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 43 sales pending in the market overall, leaving 272 listings still for sale. The resulting pending ratio is 13.7% (43 divided by 315). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
''The current inventory can best be described as very active.''
Contracts Pending
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 $50K - $75K price range has a relatively large inventory of properties for sale at 45 listings. The average list price (or asking price) for all properties in this market is $129,789.
Number of Listings For Sale vs. Pending Contract
For Sale
Duncan
50 45 40 35 30 25 20 15 10 5 0
Num Sold vs. Off-Market (Last 6 mos.)
Sold Off-Market
Duncan
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Updated on 05/02/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
30
$350K
$325K
$300K
$275K
$250K
$225K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$0K
$25K
Updated on 05/02/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
A total of 167 contracts have closed in the last 6 months with an average sold price of $109,930. Breaking it down, we notice that the $25K - $50K price range contains the highest number of sold listings.
25 20 15 10 5 $350K
$325K
Market Dashboard
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$300K
$275K
$250K
$225K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$25K
0
Alternatively, a total of 190 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 $25K - $50K price range has a high number of off-market listings at 31 properties.
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REAL ESTATE MARKET REPORT
DUNCAN Monday, May 2, 2011
Jay Kinder Real Estate Experts
The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days was $122,729 with an average DOM of 132 days. 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.
Duncan
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Updated on 05/02/2011, RealMarketReports.com Copyright © Jay Kinder Real Estate Experts
200 150 100 50
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.
Dec
$350K
$325K
$300K
$275K
Average Days on Market (Sold)
Duncan $140K $120K $100K $80K $60K $40K $20K $0K
$250K
Analysis of the absorption rate indicates an inventory of 9.8 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 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 92.9%.''
Average Sold Prices
$225K
$200K
$175K
$150K
$125K
$100K
$75K
0 $50K
Analysis of sold properties for the last six months reveals an average sold price of $109,930 and 130 days on market. Notice that properties in the $275K - $300K price range have sold quickest over the last six months.
Average Days on Market (DOM)
Sold For Sale
$25K
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 107 days.
Duncan 200 150 100 50
Copyright © Jay Kinder Real Estate Experts Updated on 05/02/2011, RealMarketReports.com
Jan
Feb
Mar
0
Apr
Dec
Jan
Feb
Mar
Apr
Market Dashboard
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Copyright © Jay Kinder Real Estate Experts Updated on 05/02/2011, RealMarketReports.com
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REAL ESTATE MARKET REPORT
DUNCAN Monday, May 2, 2011
Jay Kinder Real Estate Experts
Contracts Pending For Sale Price Range
[2]
Off-Market in the Last 6 Months
[1]
[3]
Absorption Rate
Sold in the Last 6 Months
Avg DOM
Avg List Price
Total Num
Pending Ratio
Total Num
Total Avg Avg Orig Num DOM List Price
[4]
Avg List Price
Avg Sold Price
List to Sales
Mos.
Min.
Max.
Total Num
$0
$ 24,999
4
93
$ 18,875
3
42.9%
5
17
105
$ 37,118
$ 35,541
$ 15,341
43.2%
1.4
$25,000
$ 49,999
35
119
$ 40,101
4
10.3%
31
27
133
$ 49,204
$ 43,557
$ 37,770
86.7%
7.8
$50,000
$ 74,999
45
95
$ 62,940
6
11.8%
28
21
94
$ 70,843
$ 68,490
$ 64,281
93.9%
12.9
$75,000
$ 99,999
44
95
$ 85,858
12
21.4%
31
26
125
$ 98,215
$ 92,692
$ 88,077
95.0%
10.2
$100,000
$ 124,999
39
116
$ 113,709
6
13.3%
16
17
133
$ 129,294
$ 122,459
$ 115,727
94.5%
13.8
$125,000
$ 149,999
28
135
$ 138,868
3
9.7%
23
16
143
$ 147,866
$ 141,653
$ 139,097
98.2%
10.5
$150,000
$ 174,999
19
102
$ 162,537
1
5.0%
16
14
148
$ 179,564
$ 169,807
$ 160,800
94.7%
8.1
$175,000
$ 199,999
20
127
$ 187,085
3
13.0%
8
5
216
$ 199,880
$ 189,660
$ 182,000
96.0%
24.0
$200,000
$ 224,999
6
82
$ 209,800
0
-
6
9
168
$ 242,256
$ 227,400
$ 214,961
94.5%
4.0
$225,000
$ 249,999
8
96
$ 234,750
0
-
10
6
129
$ 264,650
$ 249,650
$ 235,917
94.5%
8.0
$250,000
$ 274,999
5
108
$ 258,600
2
28.6%
4
4
154
$ 332,500
$ 277,375
$ 264,625
95.4%
7.5
$275,000
$ 299,999
6
81
$ 286,725
1
14.3%
5
1
56
$ 275,000
$ 275,000
$ 275,000
100.0% 36.0
$300,000
$ 324,999
1
52
$ 324,000
0
-
0
2
105
$ 358,500
$ 322,000
$ 300,000
93.2%
3.0
$325,000
$ 349,999
1
5
$ 339,500
0
-
1
0
-
-
-
-
-
-
$350,000
+
11
94
$ 477,000
2
15.4%
6
2
152
$ 462,500
$ 442,500
$ 400,000
90.4%
33.0
272
107
$ 129,789
43
13.7%
190
167
130
$ 126,306
$ 118,326
$ 109,930
92.9%
9.8
Market Summary >>>
Data believed to be accurate but not guaranteed.
Date Range = 11/01/2010 to 05/02/2011 Property Type = Single House, Condominium, Townhouse
Search Area = ADDINGTON, ALEX, BRAY, CENTRAL, CITYLAKE, COMANCHE, CORUM, COUNTYLINE, CYRIL, DEVOL, DUNCAN, ELGIN, EMPIRE, ENOS, FLETCHER, Foster, GERONIMO, GRANDVIEW, HASTINGS, Hennepin, INDIAHOMA, KINGSTON, LAWTON, LINDSAY, LOCO, MARLOW, Maysville, MERIDIAN, OMA, OTHER, OUTDUNCAN, PAULSVALLE, PERNELL, RATLIFFCIT, RINGLING, RINGOLD, RUSHSPRING, RYAN, STERLING, TEMPLE, Status = [1] ACT,UCS,TMPA,TMP,BC,BOM; [2] PND,UC; [3] EXP,WTH,UWT,CWT; [4] SLD
Market Summary Table
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REAL ESTATE MARKET REPORT
DUNCAN Monday, May 2, 2011
Jay Kinder Real Estate Experts
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. 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 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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