Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments
Each month we look at the market’s Direction, more so than ‘the numbers’. With a new month to follow trends, nearly everything’s looking better than expected (despite cautious optimism). We’ve also found new research to test that direction, ‘reply’ if interested in the additional information. That being said… so far, our market is looking GREAT!!!
Beware though!! As always, be sure to gauge these statistics carefully. There may be higher pending foreclosures, seasonal adjustments, and other affecting conditions. Always evaluate conditions from a broader perspective, to see more than what’s ‘on the surface’!
The perspective views below are not a representation of fact, but only considered as professional opinion. Reports are from current, residential MLS information - good through April 30th, 2009… Also showing continued market trends from the last 2 years.
** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.
Following the attached reports, in respective order:
Supply & Demand Listings – Look at the drop in the number of listings!... Before you get too excited, it’s being mentioned there’s a larger group of foreclosures coming, which can raise this. To see chart Click Here
Supply & Demand #of units ‘Under Contract’, Sold’, & ‘New’ – Three nice changes….More properties “Sold” & “Under Contract”, & the number of “New Listings” falling (as above, with current listings). Direction couldn’t be better! To see chart Click Here
Median Price of properties ‘Listed’, ‘Sold’, & ‘New Listings’ – Although slowing, our “Sold” median home prices are still edging lower, BUT the median of both New & Current prices are Raising! Hopefully, a successful attempt to slow the “Sold” median prices. Interesting – “Average” home prices Maintained the last 2 months, while “Median” prices still decreased (for this comparative data, please ‘reply’). …Let’s see how this affects prices over the next 1-3 months. To See Chart Click Here
Months Supply of Inventory – Amazing data! In 5 months, our ‘Supply of Inventory” has decreased from 14.7 months (November), to 3.8 months!! (last month) To see Chart Click Here
Percent of homes ‘Under Contract’ – Another unexpected & sizeable increase with the “Percent of homes” under contract”! From 5.7% (November)... now to nearly 19% of homes “under contract”! Great Pace! To see Chart Click Here
Basic Absorption of homes ‘Under Contract’ (both old & new) & ‘Residual Inventory’ – Three positive changes with the “Basic Absorption” of homes into our market. “New Listings’ & ‘Residual Inventory’ are decreasing, AND ‘Under Contract’ homes are still on the rise! Perfect! To see Chart Click Here
NOTE - If you’re looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or ‘wider’ perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175
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