Good morning and Happy Wednesday! It is the first part of the month and you know what that means. It’s time to do the numbers.

 

May was a good month for new listings hitting the market. We saw a 5.6% increase compared to last year which helps us keep enough homes on the market for buyers to consider. Although inventory levels continued to decrease because of the sharp rise in Pending homes, an increase in listings is great news and I hope that trend continues.

 

This increase in New Listings happened where it was needed the most.

               

$150,000-$200,000 list price saw a 34% increase

             $200,000--$250,000 list price saw a 42.3% increase

 

The average sale price is still on a great pace for the year. Year to date, we have seen a 5.23% increase which is a moderate gain. To give you some perspective on this number, in May of 2006, the average sale price increased 32.52% from March of 2005.

 

Nationally, rumblings among industry leaders concerning the rise in interest rates have mostly stopped following a weak jobs report. Fed Chair Yellen will make the decision next week but most industry leaders believe the Fed will keep interest rates where they are for the time being.

 

Please see the full report below. If you would like more detailed information about the local market, your neighborhood, your home, or your prospective home, please don’t hesitate to call or email as I would love to help. Thanks and have a great week!

 

DAVID ALDERMAN

PAINTED HILLS REALTY

(435) 414-4615
david@aldermanrealty.com

StGeorgeResidences.com

 

 

Summary Statistics
 

May-16

May-15

% Chg

2016 YTD

2015 YTD

% Chg

Absorption Rate

4.37

6.04

-27.65

4.81

6.46

-25.54

Average List Price

$433,103

$377,400

14.76

$356,141

$335,999

5.99

Median List Price

$324,940

$284,900

14.05

$279,900

$259,900

7.70

Average Sale Price

$268,998

$259,321

3.73

$262,098

$248,742

5.37

Median Sale Price

$239,950

$230,750

3.99

$232,000

$219,450

5.72

Average CDOM

82

98

-16.33

89

101

-11.88

Median CDOM

37

46

-19.57

48

59

-18.64

 

Sold Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

8

5

60.0

30

31

-3.2

50,000-99,999

13

19

-31.6

88

82

7.3

100,000-149,999

47

54

-13.0

223

273

-18.3

150,000-199,999

79

82

-3.7

315

335

-6.0

200,000-249,999

79

76

3.9

329

278

18.3

250,000-349,999

112

103

8.7

440

389

13.1

350,000-449,999

42

49

-14.3

190

139

36.7

450,000-549,999

20

14

42.9

74

50

48.0

550,000-649,999

11

6

83.3

39

29

34.5

650,000-749,999

4

3

33.3

17

13

30.8

750,000-999,999

5

2

150.0

15

17

-11.8

1,000,000-1,499,999

1

2

-50.0

3

7

-57.1

1,500,000-1,999,999

0

1

-100.0

0

2

-100.0

2,000,000-2,499,999

0

0

0.0

1

0

N/A

2,500,000-2,999,999

0

0

0.0

1

0

N/A

3,000,000+

0

0

0.0

0

0

0.0

Totals

421

416

1.2

1765

1645

7.3

 

Pending Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

7

3

133.3

24

27

-11.1

50,000-99,999

17

21

-19.0

94

92

2.2

100,000-149,999

49

54

-9.3

231

291

-20.6

150,000-199,999

106

85

24.7

409

403

1.5

200,000-249,999

89

58

53.4

412

331

24.5

250,000-349,999

127

91

39.6

547

437

25.2

350,000-449,999

63

52

21.2

225

194

16.0

450,000-549,999

16

19

-15.8

96

70

37.1

550,000-649,999

13

7

85.7

49

34

44.1

650,000-749,999

5

6

-16.7

24

21

14.3

750,000-999,999

6

4

50.0

28

18

55.6

1,000,000-1,499,999

4

0

N/A

7

5

40.0

1,500,000-1,999,999

0

1

-100.0

1

4

-75.0

2,000,000-2,499,999

0

0

0.0

1

1

0.0

2,500,000-2,999,999

0

0

0.0

1

0

N/A

3,000,000+

0

0

0.0

0

0

0.0

Totals

502

401

25.2

2149

1928

11.5

       
                 

 

 

Active Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

23

37

-37.8

63

80

-21.2

50,000-99,999

52

109

-52.3

185

254

-27.2

100,000-149,999

74

181

-59.1

345

561

-38.5

150,000-199,999

155

250

-38.0

610

758

-19.5

200,000-249,999

178

240

-25.8

722

694

4.0

250,000-349,999

389

410

-5.1

1121

1092

2.7

350,000-449,999

261

271

-3.7

648

604

7.3

450,000-549,999

131

141

-7.1

311

289

7.6

550,000-649,999

83

78

6.4

183

164

11.6

650,000-749,999

51

50

2.0

105

94

11.7

750,000-999,999

72

88

-18.2

136

139

-2.2

1,000,000-1,499,999

36

30

20.0

57

61

-6.6

1,500,000-1,999,999

18

19

-5.3

37

34

8.8

2,000,000-2,499,999

4

5

-20.0

8

9

-11.1

2,500,000-2,999,999

11

5

120.0

14

8

75.0

3,000,000+

8

9

-11.1

10

16

-37.5

Totals

1546

1923

-19.6

4555

4857

-6.2

 

New Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

8

7

14.3

34

45

-24.4

50,000-99,999

17

31

-45.2

99

155

-36.1

100,000-149,999

42

74

-43.2

238

370

-35.7

150,000-199,999

102

75

36.0

439

484

-9.3

200,000-249,999

109

77

41.6

497

426

16.7

250,000-349,999

134

124

8.1

712

675

5.5

350,000-449,999

81

65

24.6

413

369

11.9

450,000-549,999

42

38

10.5

195

180

8.3

550,000-649,999

14

18

-22.2

106

93

14.0

650,000-749,999

14

8

75.0

61

48

27.1

750,000-999,999

9

18

-50.0

74

77

-3.9

1,000,000-1,499,999

4

5

-20.0

32

29

10.3

1,500,000-1,999,999

4

6

-33.3

12

21

-42.9

2,000,000-2,499,999

0

2

-100.0

2

6

-66.7

2,500,000-2,999,999

1

1

0.0

7

3

133.3

3,000,000+

0

1

-100.0

3

5

-40.0

Totals

581

550

5.6

2924

2986

-2.1

 

 

Information is deemed to be reliable, but is not guaranteed. © 2016 MLS and FBS. Prepared by DAVID ALDERMAN on Wednesday, June 08, 2016 8:35 AM.