REAL ESTATE MARKET REPORT
LAWTON 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
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Page 4
Glossary
Real Market Reports www.RealMarketReports.com
REAL ESTATE MARKET REPORT
LAWTON 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 225 sales pending in the market overall, leaving 842 listings still for sale. The resulting pending ratio is 21.1% (225 divided by 1,067). 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 mildly active.''
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 141 listings. The average list price (or asking price) for all properties in this market is $147,652.
Number of Listings For Sale vs. Under Contract
For Sale
Lawton
160
Updated on 04/11/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
140 120 100 80 60 40 20
Number of Sold vs. Expired (Last 6 mos.)
Sold Expired
Lawton
140
Updated on 04/11/2011, 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 524 contracts have closed in the last 6 months with an average sold price of $137,965. Breaking it down, we notice that the $175K - $200K price range contains the highest number of sold listings.
100 80 60 40 20 $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 599 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 122 properties.
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REAL ESTATE MARKET REPORT
LAWTON Jay Kinder Real Estate Experts
Monday, April 11, 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 113 days.
Average Days on Market (DOM)
Sold Active
Lawton
250
Updated on 04/11/2011, 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 $137,965 and 92 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 $133,325 with an average DOM of 112 days.
$350K
$325K
$300K
$275K
$250K
Analysis of the absorption rate indicates an inventory of 9.6 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 98.1%.'' 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.
$225K
$200K
$175K
$150K
$125K
$100K
$75K
$50K
$25K
0
Continue to Market Summary Table…
Average Sold Prices
Average Days on Market (Sold)
Lawton
Lawton
$200K
120 100
$150K
80
$100K
60 40
$50K $0K Nov
20
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
LAWTON 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
8
128
$ 19,713
8
50.0%
8
21
40
$ 23,014
$ 20,495
$ 16,235
79.2%
2.3
$25,000
$ 49,999
69
154
$ 41,020
16
18.8%
41
55
60
$ 42,912
$ 39,228
$ 36,100
92.0%
7.5
$50,000
$ 74,999
95
109
$ 64,236
16
14.4%
62
59
92
$ 68,816
$ 64,101
$ 61,473
95.9%
9.7
$75,000
$ 99,999
141
127
$ 88,510
44
23.8%
122
64
84
$ 92,601
$ 89,465
$ 87,114
97.4%
13.2
$100,000
$ 124,999
82
109
$ 114,391
23
21.9%
59
61
95
$ 122,917
$ 116,988
$ 114,393
97.8%
8.1
$125,000
$ 149,999
107
99
$ 138,727
27
20.1%
65
48
132
$ 142,316
$ 137,133
$ 138,092
100.7% 13.4
$150,000
$ 174,999
71
84
$ 161,120
23
24.5%
59
51
92
$ 166,705
$ 164,245
$ 161,895
98.6%
8.4
$175,000
$ 199,999
92
91
$ 188,387
14
13.2%
51
66
91
$ 192,303
$ 188,617
$ 186,724
99.0%
8.4
$200,000
$ 224,999
43
120
$ 213,249
16
27.1%
23
26
114
$ 216,060
$ 212,201
$ 211,886
99.9%
9.9
$225,000
$ 249,999
39
98
$ 238,013
10
20.4%
41
25
74
$ 244,917
$ 242,113
$ 238,576
98.5%
9.4
$250,000
$ 274,999
21
129
$ 261,519
8
27.6%
14
15
66
$ 265,873
$ 264,307
$ 259,527
98.2%
8.4
$275,000
$ 299,999
28
119
$ 290,879
5
15.2%
20
11
120
$ 308,195
$ 302,195
$ 287,541
95.2%
15.3
$300,000
$ 324,999
16
102
$ 315,864
3
15.8%
15
9
109
$ 345,463
$ 328,185
$ 313,518
95.5%
10.7
$325,000
$ 349,999
5
128
$ 338,280
4
44.4%
7
3
102
$ 344,000
$ 344,000
$ 340,667
99.0%
10.0
$350,000
+
25
166
$ 436,946
8
24.2%
12
10
200
$ 427,644
$ 424,008
$ 420,508
99.2%
15.0
842
113
$ 147,652
225
21.1%
599
524
92
$ 144,827
$ 140,695
$ 137,965
98.1%
9.6
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)
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
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REAL ESTATE MARKET REPORT
LAWTON 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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