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REAL ESTATE MARKET REPORT

DILLON Summit Real Estate The Simson Team www.SummitRealEstate.com Allison@SummitRealEstate.com 970.468.6800

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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

DILLON Summit Real Estate - The Simson Team

Friday, September 17, 2010

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

at the real estate market. Currently there are 18 sales pending in the market overall, leaving 177 listings still for sale. The resulting pending ratio is 9.2% (18 divided by 195). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

Contracts Pending

www.SummitRealEstate.com Allison@SummitRealEstate.com 970.468.6800

''The current inventory can best be described as sluggish.''

Taking a closer look, we notice that the $300K - $400K price range has a relatively large number of contracts pending sale. We also notice that the $100K - $200K price range has a relatively large inventory of properties for sale at 39 listings. The average list price (or asking price) for all properties in this market is $459,333.

Number of Listings For Sale vs. Under Contract

For Sale

Dillon

45

Updated on 09/17/2010, RealMarketReports.com Copyright Š Summit Real Estate - The Simson Team

40 35 30 25 20 15 10 5

Number of Sold vs. Expired (Last 6 mos.)

Sold Expired

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25

Updated on 09/17/2010, RealMarketReports.com Copyright Š Summit Real Estate - The Simson Team

20 15 10 5

$1.4M

$1.3M

$1.4M

$1.3M

$1.2M

$1.1M

A total of 45 contracts have closed in the last 6 months with an average sold price of $343,098. Breaking it down, we notice that the $100K - $200K price range contains the highest number of sold listings. Alternatively, a total of 74 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 $100K - $200K price range has the highest number of expired listings at 21 properties.

Market Dashboard

Real Market Reports www.RealMarketReports.com

$1.2M

$1.1M

$1.0M

$900K

$800K

$700K

$600K

$500K

$400K

$300K

$200K

$100K

0

$1.0M

$900K

$800K

$700K

$600K

$500K

$400K

$300K

$200K

$0K

$100K

0

1


REAL ESTATE MARKET REPORT

DILLON Summit Real Estate - The Simson Team

Friday, September 17, 2010

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 170 days.

www.SummitRealEstate.com Allison@SummitRealEstate.com 970.468.6800

Average Days on Market (DOM)

Sold Active

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800

Updated on 09/17/2010, RealMarketReports.com Copyright © Summit Real Estate - The Simson Team

700 600 500 400 300 200

Analysis of sold properties for the last six months reveals an average sold price of $343,098 and 201 days on market. Notice that properties in the $0K - $100K price range have sold quickest over the last six months.

100

The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days was $262,189 with an average DOM of 146 days.

$1.4M

$1.3M

$1.2M

$1.1M

$1.0M

Analysis of the absorption rate indicates an inventory of 23.6 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 93.8%.'' 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 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.

$900K

$800K

$700K

$600K

$500K

$400K

$300K

$200K

$100K

0

Continue to Market Summary Table…

Average Sold Prices

Average Days on Market (Sold)

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Dillon

$600K

300

$500K

250

$400K

200

$300K

150

$200K

100

$100K $0K Apr

50

Copyright © Summit Real Estate - The Simson Team Updated on 09/17/2010, RealMarketReports.com

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Aug

Apr

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Jun

Jul

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Market Dashboard

Real Market Reports www.RealMarketReports.com

Copyright © Summit Real Estate - The Simson Team Updated on 09/17/2010, RealMarketReports.com

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REAL ESTATE MARKET REPORT

DILLON Summit Real Estate - The Simson Team

Friday, September 17, 2010

www.SummitRealEstate.com Allison@SummitRealEstate.com 970.468.6800 Expired Listings in the Last 6 Months*

Contracts Pending Properties For Sale Price Range

Absorption Rate

Properties 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

Avg List Price

Avg Sold Price

List to Sales

Mos.

Min.

Max.

Total Num

$0

$ 99,999

1

471

$ 98,900

0

-

0

2

85

$ 113,900

$ 104,900

$ 99,450

94.8%

3.0

$100,000

$ 199,999

39

154

$ 160,996

3

7.1%

21

13

194 $1,471,133

$ 160,618

$ 146,281

91.1%

18.0

$200,000

$ 299,999

31

144

$ 260,009

3

8.8%

11

7

133

$ 310,629

$ 275,314

$ 259,186

94.1%

26.6

$300,000

$ 399,999

25

149

$ 355,172

4

13.8%

10

9

144

$ 388,356

$ 370,456

$ 353,017

95.3%

16.7

$400,000

$ 499,999

29

192

$ 450,793

2

6.5%

12

4

285

$ 548,250

$ 454,500

$ 429,125

94.4%

43.5

$500,000

$ 599,999

8

145

$ 558,713

3

27.3%

4

3

230

$ 569,950

$ 547,950

$ 529,967

96.7%

16.0

$600,000

$ 699,999

10

108

$ 661,480

0

-

3

4

195

$ 747,750

$ 687,000

$ 639,000

93.0%

15.0

$700,000

$ 799,999

10

130

$ 779,380

1

9.1%

2

1

337

$ 949,000

$ 819,000

$ 770,000

94.0%

60.0

$800,000

$ 899,999

8

194

$ 877,175

0

-

5

1

454

$ 875,000

$ 875,000

$ 815,000

93.1%

48.0

$900,000

$ 999,999

8

261

$ 955,862

0

-

2

1

731 $1,975,000

$ 990,000

$ 900,000

90.9%

48.0

$1,000,000 $1,099,999

0

-

-

0

-

2

0

-

-

-

-

-

-

$1,100,000 $1,199,999

2

403

$1,172,000

0

-

0

0

-

-

-

-

-

-

$1,200,000 $1,299,999

1

21

$1,295,000

0

-

0

0

-

-

-

-

-

-

$1,300,000 $1,399,999

2

715

$1,372,500

0

-

1

0

-

-

-

-

-

-

$1,400,000

3

161

$1,661,667

2

40.0%

1

0

-

-

-

-

-

-

177

170

$ 459,333

18

9.2%

74

45

201

$ 793,666

$ 365,622

$ 343,098

93.8%

23.6

+

Market Summary >>> *Dates: Status: Area:

Data believed to be accurate but not guaranteed.

03/18/10 - 09/17/10 Active (A); Pending (P,C); Expired (W,X); Sold (S)

Dillon

Property Type: RES Special Condition: None Market Summary Table

Real Market Reports www.RealMarketReports.com

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REAL ESTATE MARKET REPORT

DILLON Summit Real Estate - The Simson Team

Friday, September 17, 2010

www.SummitRealEstate.com Allison@SummitRealEstate.com 970.468.6800

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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