Post on 25-Sep-2015
description
MARKET PULSEApril 2015
1
Survey Methodology
Monthly online survey of 300+ CA REALTORS
Respondents are asked about their last closedtransaction and business activity in their market areafor the previous month and the last year.
2
LASTTRANSACTION
3
Median Sale Price Up 8.4% MTM
Q: What was the sale price of your last closed transaction?
$402,000 $415,000$450,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
Median
4
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
4/10TransactionsClosed BelowAsking Price
Q: Did your last closed transaction sell over, at or below asking price?
0%
10%
20%
30%
40%
50%
60%
Jan-
14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
Over Below At
5
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Premium Paid OverAsking Price Increased
Q: At what percentage was your last closed transaction sold over asking price?
8.7%7.7%
10%
8.0%
10%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
Average
6
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Discount on Asking Price Stable
Q: At what percentage was your last closed transaction sold below asking price?
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
20142015YTD
Average -5.8 -5.6 -5.8 -6.3 -12% -13% -11% -11% -11% -11% -8.0 -11%
-14.0%
-12.0%
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
7
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
More Properties Receiving MultipleOffers
Q: How many offers did the seller in your last closed transaction receive?
0%
10%
20%
30%
40%
50%
60%
70%
80%Ja
n-14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
8
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Number of Offers Up
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2.92.7
3.6Average
Q: How many offers did your last closed transaction receive?
9
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Share of Listings with Price Reductions Up
Q: Were there any listing price reductions before escrow opened in your last closed transaction?
20%
25% 26%28%
33%
29%31% 31% 31%
23%
28%
0%
5%
10%
15%
20%
25%
30%
35%
10
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
% of Previous Renters Fluctuates
Q: Was the buyer of your last closed transaction a renter immediately prior to purchasing the property?
0%
10%
20%
30%
40%
50%
60%Ja
n-14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
11
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Fewer Sellers Becoming Renters
Q: Did the seller of your last closed transaction become a renter immediately after selling the property?
0%
5%
10%
15%
20%
25%
30%Ja
n-14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
12
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Share of First-time Buyers Fluctuating
Q: Was the buyer of your last closed transaction a first-time buyer?
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%Ja
n-14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
% First-time Buyers Long Run Average
13
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Majority Purchases are Primary Residences
Q: What was the intended use of the property?
69%78% 73%
21%16% 19%
0%10%20%30%40%50%60%70%80%90%
100%Ja
n-14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
Primary residence Investment Vacation home Other
14
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
International Buyers Fluctuate
Q: Was the buyer an international client (one who was not a citizen or permanent resident of the U.S.)?
0%
2%
4%
6%
8%
10%
12%
Jan-
14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
% International Buyers Long Run Average
15
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
MARKET CONDITIONS
16
Floor Calls from Potential Clients Increased
Q: Compared to last month, the number of floor calls from potential clients in your market area this month was
0%
10%
20%
30%
40%
50%
60%
70%
Last MonthDown Flat Up
17
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
ListingAppointments/Presentations toClientsIncrease
Q: Compared to last month, the number of listing appointments and presentations to clients in yourmarket area this month was
0%
10%
20%
30%
40%
50%
60%
70%
Last Month
Down Flat Up
18
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Open HouseTraffic Up from LastYear
Q: Compared to last month/year, open house traffic in your market area this month was
0%
20%
40%
60%
80%
Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
Last Month Down Flat Up
0%10%20%30%40%50%60%70%80%
Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15
LastYear
19
Auctions Steady
Q: Compared to last month/year, the number of auctions in your market area this month was
0%
20%
40%
60%
80%
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15
Last Month Down Flat Up
0%
20%
40%
60%
80%
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15
LastYear
20
All Cash Purchases Increasing
Q: Compared to last month/year, the number of all cash purchases in your market area this month was
0%
10%
20%
30%
40%
50%
Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15
Last Month Down Flat Up
0%
10%
20%
30%
40%
50%
60%
70%
Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15
LastYear
21
Majority of REALTORS Expect Better MarketConditionsOver the NextYear
Q: What are your expectations for market conditions over the next year?
0%
10%
20%
30%
40%
50%
60%
70%
Jan-
14
Feb-
14
Mar
-14
Apr
-14
May
-14
Jun-
14
Jul-1
4
Aug
-14
Sep-
14
Oct
-14
Nov
-14
Dec
-14
Jan-
15
Feb-
15
Mar
-15
Apr
-15
Worsen Same Improve
22
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS
Top 10 Counties
Q: In which county do you live?
March 2015 April 2015
1 Los Angeles Los Angeles
2 San Diego San Diego
3 Orange Riverside
4 Riverside Orange
5 Sacramento San Bernardino
6 Alameda Sacramento
7 Santa Clara San Mateo
8 Placer Santa Clara
9 San Bernardino Alameda
10 Sonoma San Francisco
23
SERIES: Market Pulse SurveySOURCE: CALIFORNIA ASSOCIATION OF REALTORS