Good morning and Happy Friday to you!

 

It is the first part of the month and you know what that means. It’s time to do the numbers. At the risk of sounding repetitive, March was another notable month in which we saw an increase in sold listings and a decrease in new listings coming on the market. An inventory crunch.

 

The lack of inventory is especially evident in the $200,000 or less price point which year to date, is quite low in regards to new listings on the market.

              

New Listings $150,000-$199,999 down 19% year to date

               New Listings $100,000-$149,999 down 42% year to date

               New Listings of any price down 3% year to date

               Sold Listings of any price up 9.5% year to date

 

Our local market is experiencing similar conditions as other markets across the nation which has made national headlines as of late. Affordable housing for first time home buyers and those looking in a lower price point is becoming increasingly rare. Many developers in the area have noticed and are working to create new housing projects with lower price points in mind.

 

One of the things currently keeping these buyers in the market is cheap credit which is still close to historically low levels. If you are considering listing your home, now is a great time to do so as the demand is certainly there.

 

See the full report below. If you have any questions about the information above or questions about a specific neighborhood or area, please don’t hesitate to call or email as I am happy to help. Have a FANTASTIC weekend!

Best, Dave

 

·        Market Summary for March 2016

 

 

Summary Statistics

 
 

Mar-16

Mar-15

% Chg

2016 YTD

2015 YTD

% Chg

 

Absorption Rate

4.88

6.65

-26.62

5.02

6.67

-24.74

 

Average List Price

$427,627

$371,951

14.97

$368,351

$340,713

8.11

 

Median List Price

$319,000

$279,900

13.97

$285,500

$259,900

9.85

 

Average Sale Price

$263,015

$248,722

5.75

$249,376

$245,684

1.50

 

Median Sale Price

$225,000

$220,000

2.27

$219,000

$215,000

1.86

 

Average CDOM

87

99

-12.12

91

102

-10.78

 

Median CDOM

38

50

-24.00

52

65

-20.00

 

 

Sold Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

6

9

-33.3

20

18

11.1

50,000-99,999

25

21

19.0

62

46

34.8

100,000-149,999

63

65

-3.1

143

155

-7.7

150,000-199,999

65

68

-4.4

165

168

-1.8

200,000-249,999

75

49

53.1

172

146

17.8

250,000-349,999

104

96

8.3

220

200

10.0

350,000-449,999

44

31

41.9

92

67

37.3

450,000-549,999

14

10

40.0

39

24

62.5

550,000-649,999

10

6

66.7

15

14

7.1

650,000-749,999

4

4

0.0

7

7

0.0

750,000-999,999

3

6

-50.0

7

13

-46.2

1,000,000-1,499,999

0

1

-100.0

0

4

-100.0

1,500,000-1,999,999

0

0

0.0

0

0

0.0

2,000,000-2,499,999

1

0

N/A

1

0

N/A

2,500,000-2,999,999

1

0

N/A

1

0

N/A

3,000,000+

0

0

0.0

0

0

0.0

Totals

415

366

13.4

944

862

9.5

 

Pending Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

3

8

-62.5

14

18

-22.2

50,000-99,999

26

20

30.0

73

54

35.2

100,000-149,999

43

79

-45.6

136

191

-28.8

150,000-199,999

92

81

13.6

223

226

-1.3

200,000-249,999

100

69

44.9

242

185

30.8

250,000-349,999

137

118

16.1

315

246

28.0

350,000-449,999

52

40

30.0

123

92

33.7

450,000-549,999

18

19

-5.3

59

36

63.9

550,000-649,999

11

9

22.2

25

18

38.9

650,000-749,999

5

6

-16.7

17

13

30.8

750,000-999,999

6

4

50.0

12

9

33.3

1,000,000-1,499,999

2

3

-33.3

2

5

-60.0

1,500,000-1,999,999

1

3

-66.7

1

3

-66.7

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

496

459

8.1

1244

1097

13.4

       

 
                   
                   

 

 

Active Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

22

32

-31.2

50

60

-16.7

50,000-99,999

69

110

-37.3

153

193

-20.7

100,000-149,999

80

197

-59.4

242

424

-42.9

150,000-199,999

171

269

-36.4

416

587

-29.1

200,000-249,999

214

280

-23.6

527

529

-0.4

250,000-349,999

428

461

-7.2

846

843

0.4

350,000-449,999

276

278

-0.7

484

453

6.8

450,000-549,999

133

137

-2.9

243

216

12.5

550,000-649,999

88

80

10.0

144

130

10.8

650,000-749,999

52

44

18.2

83

73

13.7

750,000-999,999

83

84

-1.2

116

109

6.4

1,000,000-1,499,999

38

36

5.6

46

55

-16.4

1,500,000-1,999,999

21

19

10.5

30

26

15.4

2,000,000-2,499,999

5

3

66.7

8

7

14.3

2,500,000-2,999,999

8

5

60.0

9

7

28.6

3,000,000+

10

10

0.0

11

14

-21.4

Totals

1698

2045

-17.0

3408

3726

-8.5

 

New Listings
 

This Month

Year to Date
 

2016

2015

% Chg

2016

2015

% Chg

0-49,999

7

9

-22.2

22

25

-12.0

50,000-99,999

20

26

-23.1

66

94

-29.8

100,000-149,999

39

72

-45.8

134

231

-42.0

150,000-199,999

74

102

-27.5

245

306

-19.9

200,000-249,999

106

80

32.5

296

257

15.2

250,000-349,999

127

133

-4.5

435

417

4.3

350,000-449,999

80

62

29.0

249

217

14.7

450,000-549,999

38

30

26.7

119

102

16.7

550,000-649,999

14

19

-26.3

71

58

22.4

650,000-749,999

8

8

0.0

37

27

37.0

750,000-999,999

9

6

50.0

53

46

15.2

1,000,000-1,499,999

1

4

-75.0

19

21

-9.5

1,500,000-1,999,999

2

1

100.0

6

12

-50.0

2,000,000-2,499,999

0

1

-100.0

1

4

-75.0

2,500,000-2,999,999

1

0

N/A

2

1

100.0

3,000,000+

0

1

-100.0

4

3

33.3

Totals

526

554

-5.1

1759

1821

-3.4

  

 

DAVID ALDERMAN

PAINTED HILLS REALTY

(435) 414-4615
david@aldermanrealty.com

StGeorgeResidences.com