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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

Pages 1-2 Page 3 Page 4


REAL ESTATE MARKET REPORT

LAWTON 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 232 sales pending in the market overall, leaving 845 listings still for sale. The resulting pending ratio is 21.5% (232 divided by 1,077). 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 $75K - $100K price range has a relatively large inventory of properties for sale at 147 listings. The average list price (or asking price) for all properties in this market is $148,893.

Number of Listings For Sale vs. Pending Contract

For Sale

Lawton

160

Updated on 05/02/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts

140 120 100 80 60 40 20

Num Sold vs. Off-Market (Last 6 mos.)

Sold Off-Market

Lawton

140

Updated on 05/02/2011, 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 520 contracts have closed in the last 6 months with an average sold price of $137,696. 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

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$300K

$275K

$250K

$225K

$200K

$175K

$150K

$125K

$100K

$75K

$50K

$25K

0

Alternatively, a total of 589 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 $75K - $100K price range has the highest number of off-market listings at 122 properties.

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REAL ESTATE MARKET REPORT

LAWTON 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 $151,147 with an average DOM of 86 days. 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.

Lawton

250

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

Feb

Mar

Apr

$350K

$325K

Copyright © Jay Kinder Real Estate Experts Updated on 05/02/2011, RealMarketReports.com

Dec

Jan

Feb

Mar

Apr

Market Dashboard

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$300K

Lawton 140 120 100 80 60 40 20 0

Copyright © Jay Kinder Real Estate Experts Updated on 05/02/2011, RealMarketReports.com

Jan

$275K

Average Days on Market (Sold)

Lawton $160K $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 98.0%.''

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 $137,696 and 92 days on market. Notice that properties in the $0K - $25K 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 113 days.

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REAL ESTATE MARKET REPORT

LAWTON 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

9

123

$ 20,733

6

40.0%

7

22

49

$ 24,582

$ 20,950

$ 16,520

78.9%

2.5

$25,000

$ 49,999

62

150

$ 40,017

23

27.1%

38

57

61

$ 43,473

$ 39,357

$ 36,058

91.6%

6.5

$50,000

$ 74,999

96

111

$ 63,898

18

15.8%

59

59

104

$ 70,194

$ 64,721

$ 61,948

95.7%

9.8

$75,000

$ 99,999

147

122

$ 88,162

34

18.8%

122

71

79

$ 92,277

$ 89,745

$ 87,429

97.4%

12.4

$100,000

$ 124,999

79

102

$ 113,734

23

22.5%

62

57

105

$ 123,245

$ 116,722

$ 114,091

97.7%

8.3

$125,000

$ 149,999

106

104

$ 139,050

30

22.1%

68

46

127

$ 141,733

$ 137,331

$ 138,236

100.7% 13.8

$150,000

$ 174,999

72

84

$ 162,178

28

28.0%

61

49

93

$ 166,316

$ 163,579

$ 161,532

98.7%

8.8

$175,000

$ 199,999

86

98

$ 188,763

21

19.6%

49

58

86

$ 191,950

$ 189,175

$ 187,258

99.0%

8.9

$200,000

$ 224,999

41

108

$ 211,936

17

29.3%

23

29

117

$ 218,995

$ 214,516

$ 211,888

98.8%

8.5

$225,000

$ 249,999

46

103

$ 237,614

8

14.8%

37

22

85

$ 247,001

$ 243,815

$ 239,522

98.2%

12.5

$250,000

$ 274,999

26

120

$ 262,565

10

27.8%

13

12

69

$ 267,192

$ 265,233

$ 260,667

98.3%

13.0

$275,000

$ 299,999

31

98

$ 290,984

4

11.4%

21

12

120

$ 305,928

$ 300,024

$ 287,032

95.7%

15.5

$300,000

$ 324,999

15

128

$ 315,288

2

11.8%

11

11

130

$ 342,333

$ 325,233

$ 312,788

96.2%

8.2

$325,000

$ 349,999

5

149

$ 337,300

4

44.4%

6

3

102

$ 344,000

$ 344,000

$ 340,667

99.0%

10.0

$350,000

+

24

197

$ 438,989

4

14.3%

12

12

79

$ 437,357

$ 434,682

$ 436,120

100.3% 12.0

845

113

$ 148,893

232

21.5%

589

520

92

$ 144,707

$ 140,474

$ 137,696

98.0%

Market Summary >>>

9.8

Data believed to be accurate but not guaranteed. Date Range = 11/01/2010 to 05/02/2011 Property Type = Condo/Townhouse, Manuf. Home W/Hud Label, Manuf. Home W/O Hud Label, Mobile Home, Single Family Residence, Single Family W/Acreage Search Area = Apache, Cache, Elgin, Faxon, Fletcher, Geronimo, Indiahoma, Lawton, Meers, Medicine Park, Sterling, Walters, `=ConcRange(AA204:AA302,", ") Status = [1] ACT,UCS,TMPA,TMP,BC,BOM; [2] PND,UC; [3] EXP,WTH,UWT,CWT; [4] SLD

Market Summary Table

Real Market Reports RealMarketReports.com

3


REAL ESTATE MARKET REPORT

LAWTON 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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4


May 2, 2011 Lawton Market Trends Report  

Lawton Market

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