REAL ESTATE MARKET REPORT
LAWTON (NEW UC) 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 (NEW UC) Jay Kinder Real Estate Experts
Monday, January 17, 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 46 sales pending in the market overall, leaving 154 listings still for sale. The resulting pending ratio is 23.0% (46 divided by 200). 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 $175K - $200K price range has a relatively large number of contracts pending sale. We also notice that the $175K - $200K price range has a relatively large inventory of properties for sale at 36 listings. The average list price (or asking price) for all properties in this market is $223,212.
Number of Listings For Sale vs. Under Contract
For Sale
Lawton (New Uc)
40
Updated on 01/17/2011, RealMarketReports.com Copyright Š Jay Kinder Real Estate Experts
35 30 25 20 15 10 5
Number of Sold vs. Expired (Last 6 mos.)
Sold Expired
Lawton (New Uc)
40
Updated on 01/17/2011, 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 143 contracts have closed in the last 6 months with an average sold price of $209,735. Breaking it down, we notice that the $175K - $200K price range contains the highest number of sold listings. Alternatively, a total of 75 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 $225K - $250K price range has the highest number of expired listings at 15 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
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REAL ESTATE MARKET REPORT
LAWTON (NEW UC) Jay Kinder Real Estate Experts
Monday, January 17, 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 103 days.
Average Days on Market (DOM)
Sold Active
Lawton (New Uc)
350
Updated on 01/17/2011, RealMarketReports.com Copyright © Jay Kinder Real Estate Experts
300 250 200 150 100
Analysis of sold properties for the last six months reveals an average sold price of $209,735 and 112 days on market. Notice that properties in the $325K - $350K 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 $204,650 with an average DOM of 117 days.
$350K
$325K
$300K
$275K
$250K
Analysis of the absorption rate indicates an inventory of 6.5 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 99.6%.'' 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 (New Uc)
Lawton (New Uc)
$250K
140 120 100 80 60 40 20 0
$200K $150K $100K $50K
Copyright © Jay Kinder Real Estate Experts Updated on 01/17/2011, RealMarketReports.com
$0K Aug
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Market Dashboard
Real Market Reports www.RealMarketReports.com
Copyright © Jay Kinder Real Estate Experts Updated on 01/17/2011, RealMarketReports.com
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REAL ESTATE MARKET REPORT
LAWTON (NEW UC) Jay Kinder Real Estate Experts
Monday, January 17, 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
0
-
-
0
-
0
0
-
-
-
-
-
-
$25,000
$ 49,999
0
-
-
0
-
0
0
-
-
-
-
-
-
$50,000
$ 74,999
0
-
-
0
-
0
0
-
-
-
-
-
-
$75,000
$ 99,999
1
139
$ 92,900
0
-
0
0
-
-
-
-
-
-
$100,000
$ 124,999
0
-
-
0
-
2
0
-
-
-
-
-
-
$125,000
$ 149,999
12
131
$ 146,078
3
20.0%
5
15
127
$ 138,882
$ 139,508
$ 139,615
100.1%
4.8
$150,000
$ 174,999
29
85
$ 162,524
6
17.1%
13
27
88
$ 164,599
$ 163,528
$ 163,044
99.7%
6.4
$175,000
$ 199,999
36
88
$ 189,910
14
28.0%
11
36
111
$ 192,740
$ 189,221
$ 188,021
99.4%
6.0
$200,000
$ 224,999
13
121
$ 210,561
7
35.0%
3
28
111
$ 216,136
$ 215,203
$ 213,702
99.3%
2.8
$225,000
$ 249,999
22
100
$ 242,750
7
24.1%
15
13
80
$ 242,585
$ 240,931
$ 239,255
99.3%
10.2
$250,000
$ 274,999
11
109
$ 259,627
4
26.7%
6
8
81
$ 261,450
$ 262,175
$ 260,925
99.5%
8.3
$275,000
$ 299,999
12
159
$ 290,389
2
14.3%
5
3
144
$ 288,583
$ 288,583
$ 288,785
100.1% 24.0
$300,000
$ 324,999
6
129
$ 318,921
1
14.3%
6
4
138
$ 320,511
$ 315,511
$ 316,911
100.4%
9.0
$325,000
$ 349,999
2
95
$ 338,450
0
-
4
4
75
$ 342,625
$ 337,875
$ 337,375
99.9%
3.0
$350,000
+
10
69
$ 397,008
2
16.7%
5
5
321
$ 408,701
$ 410,449
$ 412,409
100.5% 12.0
154
103
$ 223,212
46
23.0%
75
143
112
$ 212,062
$ 210,535
$ 209,735
99.6%
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.
6.5
Data believed to be accurate but not guaranteed. 07/18/10 - 01/17/11 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
Property Type: CONDO/TOWNHOUSE, MANUF. HOME W/HUD LABEL, MANUF. HOME W/O HUD LABEL, MOBILE HOME, SINGL Special Condition: New/Under Construction Market Summary Table
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REAL ESTATE MARKET REPORT
LAWTON (NEW UC) Jay Kinder Real Estate Experts
Monday, January 17, 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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