GBRAR Monthly Indicators 08/2014

8/11/2019 GBRAR Monthly Indicators 08/2014

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August 2014 Activity Snapshot

One-Year Change in One-Year Change inClosed Sales Median Sales Price

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Monthly Indicators

- 5.7% + 1.7% - 4.9%One-Year Change in

Current as of September 19, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

Pending SalesClosed SalesDays on Market Until SaleMedian Sales Price

Average Sales PricePercent of List Price Received

Most local markets continue to recover from a soft patch earlier this year. Themacro trend is still positive; the micro trend involves more moderate pinchingup and down the month-to-month timeline. This is not uncommon in a balancedmarket, but it's been so long since we've seen one that we're watching it withperhaps too much trepidation. Metrics to watch include inventory and prices,

but also days on market, months' supply and percent of list price received atsale. Declines in pending and closed sales activity may reflect strong decreasesat lower price points and may not indicate softening demand.

New Listings in Greater Baton Rouge decreased 4.8 percent to 1,121. PendingSales were up 3.1 percent to 771. Inventory levels shrank 4.9 percent to 4,224units.

Prices continued to gain traction. The Median Sales Price increased 1.7 percentto $179,000. Days on Market was down 1.3 percent to 77 days. Sellers wereencouraged as Months Supply of Inventory was down 9.5 percent to 5.7months.

Sustained job growth, lower mortgage rates and a slow rise in the number ofhomes for sale appear to have unleashed at least some pent-up demand. Sincehousing demand relies heavily on an economy churning out good jobs, it'sencouraging to see second quarter GDP growth revised upwards to a 4.2percent annualized rate and stronger-than-expected job growth in recentmonths. Further improvements are still needed by way of wage growth andconsumer confidence but recovery continues.

Homes for Sale

A research tool provided by the Greater Baton Rouge Association ofREALTORS. Residential real estate activity comprised of single-familyproperties, townhomes and condominiums combined. Percent changesare calculated using rounded figures.

Activity OverviewNew Listings

Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory


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Activity Overview

Key Metrics Historical Sparkbars 8-2013 8-2014 Percent Change YTD 2013 YTD 2014 Percent Change

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

New Listings 1,178 1,121 - 4.8% 9,402 - 1.1%

Pending Sales 748 771 + 3.1% 6,151 6,597 + 7.3%

9,509

+ 2.2%

Days on Market 78 77 - 1.3% 87 85 - 2.3%

Closed Sales 902 851 - 5.7% 5,999 6,130

+ 1.1%

Avg. Sales Price $202,850 $207,142 + 2.1% $198,997 $200,834 + 0.9%

Median Sales Price $176,000 $179,000 + 1.7% $174,000 $176,000

Homes for Sale 4,440 4,224 - 4.9% -- --

Months Supply 6.3 5.7 - 9.5% --

Current as of September 19, 2014. All data from the Greater Baton Rouge Association of REALTORS MLS. Information deemed reliable but not guaranteed. Powered by 10K Research and Marketing. | Click for Cover Page | 2

+ 0.3%

Affordability Index 145 148 + 2.1% 146 151 + 3.4%

Pct. of List Price Received 97.3% 97.2% - 0.1% 96.9% 97.2%

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New Listings

Prior Year Percent Change

September 2013 1,093 919 +18.9%October 2013 1,070 1,072 -0.2%November 2013 812 814 -0.2%December 2013 671 608 +10.4%January 2014 998 1,190 -16.1%February 2014 1,007 1,023 -1.6%March 2014 1,130 1,213 -6.8%

April 2014 1,283 1,266 +1.3%May 2014 1,260 1,248 +1.0%June 2014 1,343 1,181 +13.7%

July 2014 1,260 1,210 +4.1% August 2014 1,121 1,178 -4.8%12-Month Avg 1,087 1,077 +0.9%

Historical New Listings by Month


A count of the properties that have been newly listed on the market in a given month.

New Listings

998

1,178 1,121

2012 2013 2014

August

0

1,000

2,000

3,000

4,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

8,8889,509 9,402

2012 2013 2014

Year to Date

- 1.1%+ 18.0% - 4.8% + 7.0%- 4.0% + 1.6%


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Pending Sales


September 2013 609 582 +4.6%October 2013 687 650 +5.7%November 2013 572 538 +6.3%December 2013 487 477 +2.1%January 2014 668 606 +10.2%February 2014 665 665 0.0%March 2014 839 875 -4.1%

April 2014 911 873 +4.4%May 2014 942 828 +13.8%June 2014 929 770 +20.6%

July 2014 872 786 +10.9% August 2014 771 748 +3.1%12-Month Avg 746 700 +6.6%

Historical Pending Sales by Month


A count of the properties on which offers have been accepted in a given month.

Pending Sales

583

748 771

2012 2013 2014

August

0

500

1,000

1,500

2,000

2,500

3,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

5,5576,151

6,597

2012 2013 2014

Year to Date

+ 7.3%+ 28.3% + 3.1% + 10.7%- 13.1% + 17.9%


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Closed Sales


September 2013 732 698 +4.9%October 2013 662 650 +1.8%November 2013 588 557 +5.6%December 2013 643 537 +19.7%January 2014 523 479 +9.2%February 2014 606 536 +13.1%March 2014 657 758 -13.3%

April 2014 808 797 +1.4%May 2014 918 836 +9.8%June 2014 896 852 +5.2%

July 2014 871 839 +3.8% August 2014 851 902 -5.7%12-Month Avg 730 703 +3.8%

Historical Closed Sales by Month


A count of the actual sales that closed in a given month.

Closed Sales

618

902851

2012 2013 2014

August

0

500

1,000

1,500

2,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

5,041

5,999 6,130

2012 2013 2014

Year to Date

+ 2.2%+ 46.0% - 5.7% + 19.0%- 12.1% + 13.6%


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Days on Market Until Sale


September 2013 79 103 -23.3%October 2013 84 94 -10.6%November 2013 85 89 -4.5%December 2013 78 86 -9.3%January 2014 84 99 -15.2%February 2014 93 99 -6.1%March 2014 93 92 +1.1%

April 2014 92 90 +2.2%May 2014 85 92 -7.6%June 2014 81 80 +1.3%

July 2014 82 76 +7.9% August 2014 77 78 -1.3%12-Month Avg* 84 89 -5.6%

Historical Days on Market Until Sale by Month


Average number of days between when a property is listed and when an offer is accepted in a given month.

Days on Market

* Average Days on Market of all properties from September 2013 through August2014. This is not the average of the individual figures above.

103

78 77

2012 2013 2014

August

0

20

40

60

80

100

120

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

9887 85

2012 2013 2014

Year to Date

- 2.3%- 24.3% - 1.3% - 11.2%+ 4.0% - 3.9%


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Median Sales Price


September 2013 $169,900 $169,900 0.0%October 2013 $170,858 $166,150 +2.8%November 2013 $174,450 $172,900 +0.9%December 2013 $179,500 $165,000 +8.8%January 2014 $167,500 $162,000 +3.4%February 2014 $164,950 $172,450 -4.3%March 2014 $178,005 $168,048 +5.9%

April 2014 $171,443 $178,950 -4.2%May 2014 $176,250 $173,500 +1.6%June 2014 $185,000 $177,900 +4.0%

July 2014 $182,000 $176,650 +3.0% August 2014 $179,000 $176,000 +1.7%12-Month Med* $175,000 $172,095 +1.7%

Historical Median Sales Price by Month


Point at which half of the sales sold for more and half s old for less, not accounting for seller concessions, in a given month.

Median Sales Price

* Median Sales Price of all properties from September 2013 through August 2014.This is not the average of the individual figures above.

$170,700 $176,000 $179,000

2012 2013 2014

August

$0

$50,000

$100,000

$150,000

$200,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

$167,000 $174,000 $176,000

2012 2013 2014

Year to Date

+ 1.1%+ 3.1% + 1.7% + 4.2%+ 1.6% + 0.6%


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Average Sales Price


September 2013 $193,224 $197,728 -2.3%October 2013 $197,266 $186,355 +5.9%November 2013 $197,744 $205,357 -3.7%December 2013 $203,204 $193,059 +5.3%January 2014 $178,590 $174,690 +2.2%February 2014 $193,480 $196,109 -1.3%March 2014 $205,917 $194,552 +5.8%

April 2014 $200,839 $207,359 -3.1%May 2014 $205,462 $197,982 +3.8%June 2014 $208,517 $203,750 +2.3%

July 2014 $196,521 $202,854 -3.1% August 2014 $207,142 $202,850 +2.1%12-Month Avg* $199,894 $197,960 +1.0%

Historical Average Sales Price by Month


Average sales price for all closed sales, not accounting for seller concessions, in a given month.

Avg. Sales Price

* Avg. Sales Price of all properties from September 2013 through August 2014. Thisis not the average of the individual figures above.

$198,977 $202,850 $207,142

2012 2013 2014

August

$0

$50,000

$100,000

$150,000

$200,000

$250,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

$190,528 $198,997 $200,834

2012 2013 2014

Year to Date

+ 0.9%+ 1.9% + 2.1% + 4.4%+ 0.5% - 1.1%


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Percent of List Price Received


September 2013 97.3% 97.2% +0.1%October 2013 96.5% 96.4% +0.1%November 2013 96.7% 96.2% +0.5%December 2013 97.1% 96.5% +0.6%January 2014 96.8% 96.3% +0.5%February 2014 96.4% 97.2% -0.8%March 2014 97.1% 96.9% +0.2%

April 2014 97.1% 96.8% +0.3%May 2014 97.4% 96.8% +0.6%June 2014 97.6% 97.1% +0.5%

July 2014 97.7% 96.7% +1.0% August 2014 97.2% 97.3% -0.1%12-Month Avg* 97.1% 96.8% +0.3%

Historical Percent of List Price Received by Month


Percentage found when dividing a propertys sales price by its most recent list price, then taking the average for all properties sold in agiven month, not accounting for seller concessions.

Pct. of List Price Received

* Average Pct. of List Price Received for all properties from September 2013through August 2014. This is not the average of the individual figures above.

97.0% 97.3% 97.2%

2012 2013 2014

August

95%

96%

97%

98%

99%

100%

101%

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

96.8% 96.9% 97.2%

2012 2013 2014

Year to Date

+ 0.3%+ 0.3% - 0.1% + 0.1%+ 0.9% + 0.2%


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Housing Affordability Index


September 2013 152 164 -7.3%October 2013 151 166 -9.0%November 2013 157 161 -2.5%December 2013 145 170 -14.7%January 2014 152 175 -13.1%February 2014 157 160 -1.9%March 2014 146 164 -11.0%

April 2014 151 157 -3.8%May 2014 151 156 -3.2%June 2014 143 144 -0.7%

July 2014 145 146 -0.7% August 2014 148 145 +2.1%12-Month Avg 150 150 0.0%

Historical Housing Affordability Index by Month


This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what isnecessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

Affordability Index

160145 148

2012 2013 2014

August

0

50

100

150

200

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

163146 151

2012 2013 2014

Year to Date

+ 3.4%- 9.4% + 2.1% - 10.4%+ 6.0% + 6.5%


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Inventory of Homes for Sale


September 2013 4,528 4,523 +0.1%October 2013 4,529 4,471 +1.3%November 2013 4,415 4,365 +1.1%December 2013 4,168 4,037 +3.2%January 2014 4,125 4,216 -2.2%February 2014 4,151 4,273 -2.9%March 2014 4,122 4,248 -3.0%

April 2014 4,177 4,292 -2.7%May 2014 4,180 4,367 -4.3%June 2014 4,236 4,405 -3.8%

July 2014 4,222 4,438 -4.9% August 2014 4,224 4,440 -4.9%12-Month Avg* 4,256 4,340 -1.9%

Historical Inventory of Homes for Sale by Month


The number of properties available for sale in active status at the end of a given month.

Homes for Sale

* Homes for Sale for all properties from September 2013 through August 2014. Thisis not the average of the individual figures above.

4,660 4,440 4,224

2012 2013 2014

August

0

1,000

2,000

3,000

4,000

5,000

6,000

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

- 4.7% - 4.9%- 5.5%


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Months Supply of Inventory


September 2013 6.4 7.2 -11.1%October 2013 6.4 7.0 -8.6%November 2013 6.2 6.8 -8.8%December 2013 5.9 6.2 -4.8%January 2014 5.8 6.5 -10.8%February 2014 5.8 6.6 -12.1%March 2014 5.8 6.4 -9.4%

April 2014 5.8 6.4 -9.4%May 2014 5.8 6.4 -9.4%June 2014 5.7 6.4 -10.9%

July 2014 5.7 6.5 -12.3% August 2014 5.7 6.3 -9.5%12-Month Avg* 5.9 6.6 -10.6%

Historical Months Supply of Inventory by Month


The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

Months Supply

* Months Supply for all properties from September 2013 through August 2014. Thisis not the average of the individual figures above.

7.5

6.35.7

2012 2013 2014

August

0

2

4

6

8

10

12

1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014

- 16.0% - 9.5%- 20.2%

GBRAR Monthly Indicators 08/2014

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