September 2016 Market Report

REAL ESTATE MARKET REPORT

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2016

TABLE OF CONTENTS Charts and Commentary ………………………………………………..

Market Summary Table ………………………………………………..

Glossary ………………………………………………………………...

Robbie Breaux & Team Van Eaton & Romero - A Latter & Blum Company 2000 Kaliste Saloom Road, Ste 101 Lafayette, Louisiana 70508 www.RobbieBreaux.com info@robbiebreaux.com (337) 267-4099 Each Office Independently Owned & Operated Licensed in Louisiana

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REAL ESTATE MARKET REPORT

SINGLE FAMILY LAFAYETTE Sunday, October 2, 2016

Robbie Breaux & Team Van Eaton & Romero - A Latter & Blum Company info@robbiebreaux.com (337) 267-4099

Let's take a look

The pending ratio indicates the supply & 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 347 sales pending in the market overall, leaving 1002 listings still for sale. The resulting pending ratio is 25.7% (347 divided by 1,349).

So you might be asking yourself, that's great... but what exactly does it mean?

I'm glad you asked!

"Current inventory is described as mildly active."

Taking a closer look, we notice that the $200K - $250K price range has a relatively large number of contracts pending sale.

We also notice that the $150K - $200K price range has a relatively large inventory of properties for sale at 249 listings. The median list price (or asking price) for all properties in this market is $231,544.

Number of Listings For Sale vs. Pending Contract

Properties For Sale Contracts Pending

Single Family Lafayette

300

Updated 10/2/2016, RealMarketReports.com Copyright Š Robbie Breaux & Team

250 200 150 100 50

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

Sold Off-Market

Single Family Lafayette

500

Updated 10/2/2016, RealMarketReports.com Copyright Š Robbie Breaux & Team

450 400

$700K

$650K

$600K

$550K

$500K

$450K

$400K

$350K

$300K

$250K

$200K

$150K

$100K

$50K

$0K

0

A total of 1565 contracts have closed in the last 6 months with a median sold price of $203,500. Breaking it down, we notice that the $150K - $200K price range contains the highest number of sold listings.

350 300 250 200 150 100 50

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$700K

$650K

$600K

$550K

$500K

$450K

$400K

$350K

$300K

$250K

$200K

$150K

$100K

$50K

$0K

0

Alternatively, a total of 780 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 $150K - $200K price range has the highest number of off-market listings at 145 properties.

Market Dashboard

REAL ESTATE MARKET REPORT

SINGLE FAMILY LAFAYETTE Sunday, October 2, 2016

Robbie Breaux & Team Van Eaton & Romero - A Latter & Blum Company info@robbiebreaux.com (337) 267-4099

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 (properties for sale) have been on the market for a median time of 80 days.

Median Days on Market (DOM)

Sold For Sale

Single Family Lafayette

350

Updated 10/2/2016, RealMarketReports.com Copyright © Robbie Breaux & Team

300 250 200 150

Analysis of sold properties for the last six months reveals a median sold price of $203,500 and 91 days on market. Notice that properties in the $650K - $700K price range have sold quickest over the last six months.

100 50

The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $209,750 with a DOM of 88 days.

"The median list-to-sales ratio for this area is 98.2%."

Since the recent DOM is less than the median 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.

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.

Median Sold Prices Single Family Lafayette $210K

95

$205K

90

$200K

85

May

80

Copyright © Robbie Breaux & Team Updated 10/2/2016, RealMarketReports.com

Jun

Jul

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Aug

Sep

$700K

$650K

$600K

$550K

$500K

$450K

$400K

Single Family Lafayette 100

$190K

Analysis of the absorption rate indicates an inventory of 3.8 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 properties 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 onto the market in the future.

Median Days on Market (Sold)

$215K

$195K

$350K

$300K

$250K

$200K

$150K

$100K

$50K

$0K

0

Copyright © Robbie Breaux & Team Updated 10/2/2016, RealMarketReports.com

75

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Market Dashboard

REAL ESTATE MARKET REPORT

SINGLE FAMILY LAFAYETTE Sunday, October 2, 2016

Robbie Breaux & Team Van Eaton & Romero - A Latter & Blum Company info@robbiebreaux.com (337) 267-4099

347

MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available

Price Range

1002

Low

High

Num #

$0

$49,999

9

$50,000

$99,999

44

$100,000

$149,999

74

$150,000

$199,999

249

$200,000

$249,999

174

$250,000

$299,999

148

$300,000

$349,999

71

$350,000

$399,999

69

$400,000

$449,999

33

$450,000

$499,999

42

$500,000

$549,999

17

$550,000

$599,999

8

$600,000

$649,999

7

$650,000

$699,999

6

$700,000

+

51

Market Totals

780

PENDING [2]

1565

ACTIVE [1]

Days on Market

Current List Price

A

91

$

33,553

M

62

$

36,500

A

110

$

79,771

M

81

$

80,000

A

77

$ 128,465

M

58

$ 129,000

A

89

$ 179,097

M

79

$ 179,900

A

88

$ 223,050

M

72

$ 220,000

A

95

$ 274,085

M

72

$ 272,588

A

95

$ 324,863

M

70

$ 322,900

A

111

$ 372,488

M

111

$ 369,999

A

138

$ 427,270

M

117

$ 424,900

A

85

$ 479,357

M

73

$ 484,369

A

105

$ 525,756

M

124

$ 520,000

A

107

$ 586,306

M

83

$ 593,773

A

70

$ 637,685

M

86

$ 635,000

A

132

$ 677,467

M

98

$ 671,950

A

167

$ 1,216,857

M

131

$ 891,000

1,002

OFF-MARKET (last 6 mos) [3]

Num #

Pend Ratio

Num #

Num #

1

10%

8

29

14

24%

37

75

42

36%

76

183

89

26%

145

466

95

35%

134

333

45

23%

124

203

18

20%

54

74

14

17%

65

79

6

15%

29

35

10

19%

25

29

3

15%

18

10

4

33%

11

11

3

30%

9

6

1

14%

6

4

2

4%

39

28

347

26%

780

1565

ABSORPTION RATE (months of inventory)

SOLD/CLOSED (last 6 months) [4]

Days on Market

Original List Price

Final List Price

Sold/ Closed Price

ListSale Ratio

A

83

$

45,594

$

41,890

$

28,462

68%

M

64

$

34,999

$

32,000

$

28,000

88%

A

137

$

90,336

$

85,178

$

80,760

95%

M

89

$

94,000

$

85,050

$

83,500

98%

A

92

$ 136,903

$ 133,436

$ 129,748

97%

M

68

$ 137,900

$ 135,000

$ 132,500

98%

A

106

$ 182,391

$ 178,714

$ 176,129

99%

M

86

$ 181,700

$ 179,500

$ 176,250

98%

A

124

$ 230,371

$ 226,066

$ 222,330

98%

M

89

$ 228,000

$ 225,000

$ 220,312

98%

A

142

$ 282,960

$ 277,549

$ 273,320

98%

M

100

$ 278,900

$ 275,000

$ 272,500

99%

A

177

$ 337,416

$ 330,428

$ 321,948

97%

M

113

$ 333,046

$ 329,000

$ 321,000

98%

A

191

$ 394,932

$ 384,953

$ 374,581

97%

M

127

$ 388,150

$ 385,000

$ 375,000

97%

A

172

$ 445,676

$ 437,618

$ 425,332

97%

M

156

$ 440,000

$ 436,500

$ 425,000

97%

A

199

$ 492,862

$ 483,044

$ 473,302

98%

M

150

$ 485,000

$ 481,000

$ 475,000

99%

A

202

$ 548,722

$ 532,048

$ 512,568

96%

M

187

$ 525,058

$ 526,580

$ 515,000

98%

A

158

$ 612,555

$ 600,100

$ 574,182

96%

M

137

$ 610,000

$ 599,000

$ 575,000

96%

A

296

$ 725,967

$ 678,200

$ 627,756

93%

M

305

$ 670,450

$ 662,200

$ 632,250

95%

A

74

$ 696,075

$ 689,825

$ 668,137

97%

M

78

$ 692,200

$ 692,200

$ 669,023

97%

A

151

$ 961,117

$ 950,874

$ 897,353

94%

M

122

$ 887,000

$ 872,000

$ 794,250

91%

1.9 3.5 2.4 3.2 3.1 4.4 5.8 5.2 5.7 8.7 10.2 4.4 7 9 10.9 3.8

Market Averages

98

$ 303,898

127

$ 245,774

$ 240,567

$ 234,669 98%

Market Medians

80

$ 231,544

91

$ 210,195

$ 207,320

$ 203,500 98%

Date Range (Off-Market & Sold) = 04/03/2016 to 10/02/2016 Data believed to be accurate but not guaranteed.

Est. Mos.

Favors Sellers

Favors Buyers

Status = [1] Active; [2] Pending; [3] Expired, Cancelled; [4] Sold Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P Type = Detached Single Family

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Market Summary Table

REAL ESTATE MARKET REPORT

SINGLE FAMILY LAFAYETTE Sunday, October 2, 2016

Robbie Breaux & Team Van Eaton & Romero - A Latter & Blum Company info@robbiebreaux.com (337) 267-4099

1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The 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. Current List Price: The price that a property 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 re-offer their property for sale.

4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The 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 =

Sold Price Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY 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.

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Glossary