Monthly Market Detail - July 2016 Single Family Homes · 2016-09-19 · July 2016 Median Percent of...
Transcript of Monthly Market Detail - July 2016 Single Family Homes · 2016-09-19 · July 2016 Median Percent of...
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
-10.8%
72 27.8%
Percent Change
Year-over-Year
14.3%
93 14.0%
Closed Sales
88
130 Days
90 41.1%
411 7.8%
7.7 -19.5%
July 2016
Median Percent of Original
List Price Received
Median Time to Contract
116 Days
92
Median Time to Sale
New Pending Sales
New Listings
Month
106
Pending Inventory 127
Inventory (Active Listings) 443
Months Supply of Inventory 6.2
Summary Statistics
Closed Sales
Paid in Cash
94.1%
July 2016
$219,950Median Sale Price
Average Sale Price
Dollar Volume
July 2015Percent Change
Year-over-Year
38 37 2.7%
88 77 14.3%
$205,000 7.3%
$21.5 Million $17.8 Million 20.8%
$244,239 $231,151 5.7%
93.0% 1.2%
63 Days 83 Days -24.1%
March 2016 90
February 2016 69
January 2016 44
July 2015 77
December 2015 60
November 2015 56
Economists' note : Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's sales
to the amount of sales in the same month in the previous year), rather
than changes from one month to the next. 37.5%
October 2015 63
September 2015 71
8.6%
61.4%
44.7%
30.4%
102.9%
15.4%
27.3%
-22.8%
August 2015 55
June 2016 92 64.3%
56.5%
48.4%
May 2016 72
April 2016 95
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Monthly Market Detail - July 2016
Sumter County Single Family Homes
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Closed Sales The number of sales transactions which closed during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
Month Cash SalesPercent Change
Year-over-Year
July 2016 38 2.7%
June 2016 33 17.9%
May 2016 29 31.8%
April 2016 46 64.3%
Economists' note : Cash Sales can be a useful indicator of the extent to
which investors are participating in the market. Why? Investors are
far more likely to have the funds to purchase a home available up front,
whereas the typical homebuyer requires a mortgage or some other
form of financing. There are, of course, many possible exceptions, so
this statistic should be interpreted with care.
March 2016 35 -20.5%
February 2016 37 85.0%
January 2016 26 8.3%
December 2015 25 0.0%
November 2015 25 47.1%
October 2015 33 43.5%
September 2015 36 71.4%
August 2015 20 11.1%
July 2015 37 37.0%
MonthPercent of Closed
Sales Paid in Cash
Percent Change
Year-over-Year
July 2016 43.2% -10.2%
June 2016 35.9% -28.2%
May 2016 40.3% -15.7%
April 2016 48.4% 10.5%
Economists' note : This statistic is simply another way of viewing
Cash Sales. The remaining percentages of Closed Sales (i.e. those not
paid fully in cash) each month involved some sort of financing, such as
mortgages, owner/seller financing, assumed loans, etc.
March 2016 38.9% -39.0%
February 2016 53.6% -8.8%
January 2016 59.1% 40.4%
December 2015 41.7% -13.3%
November 2015 44.6% 15.5%
October 2015 52.4% 32.0%
September 2015 50.7% 6.3%
August 2015 36.4% -23.2%
July 2015 48.1% -0.2%
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s Monthly Market Detail - July 2016
2012 2013 2014 2015 2016
Sumter County Single Family Homes
Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash
2012 2013 2014 2015 2016
Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
Month Median Sale PricePercent Change
Year-over-Year
July 2016 $219,950 7.3%
December 2015 $227,500 6.1%
June 2016 $233,450 16.8%
May 2016 $230,200 14.3%
February 2016 $224,000 -0.7%
January 2016 $214,500 0.2%
April 2016 $235,000 17.5%
March 2016 $207,000 -5.5%
November 2015 $229,500 4.6%
October 2015 $168,000 -4.0%
September 2015 $190,000 -13.4%
August 2015 $242,000 28.4%
July 2015 $205,000 6.9%
Month Average Sale PricePercent Change
Year-over-Year
July 2016 $244,239 5.7%
June 2016 $260,803 23.7%
May 2016 $247,420 -4.9%
April 2016 $267,192 17.5%
December 2015 $240,637 12.7%
November 2015 $245,815 -3.7%
2.4%
February 2016 $223,304 -14.7%
January 2016 $325,750 34.2%
Economists' note : Median Sale Price is our preferred summary
statistic for price activity because, unlike Average Sale Price, Median
Sale Price is not sensitive to high sale prices for small numbers of
homes that may not be characteristic of the market area. Keep in mind
that median price trends over time are not always solely caused by
changes in the general value of local real estate. Median sale price only
reflects the values of the homes that sold each month, and the mix of
the types of homes that sell can change over time.
Economists' note : Usually, we prefer Median Sale Price over Average
Sale Price as a summary statistic for home prices. However, Average
Sale Price does have its uses—particularly when it is analyzed
alongside the Median Sale Price. For one, the relative difference
between the two statistics can provide some insight into the market for
higher-end homes in an area.August 2015 $248,488 14.9%
July 2015 $231,151 12.7%
October 2015 $196,243 1.3%
September 2015 $197,870 -11.4%
March 2016 $230,071
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Monthly Market Detail - July 2016
2012 2013 2014 2015 2016
Sumter County Single Family Homes
Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)
2012 2013 2014 2015 2016
Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
Month Dollar VolumePercent Change
Year-over-Year
July 2016 $21.5 Million 20.8%
June 2016 $24.0 Million 103.2%
May 2016 $17.8 Million 48.8%
April 2016 $25.4 Million 74.5%
Economists' note : Dollar Volume is simply the sum of all sale prices
in a given time period, and can quickly be calculated by multiplying
Closed Sales by Average Sale Price. It is a strong indicator of the health
of the real estate industry in a market, and is of particular interest to
real estate professionals, investors, analysts, and government agencies.
Potential home sellers and home buyers, on the other hand, will likely
be better served by paying attention to trends in the two components
of Dollar Volume (i.e. sales and prices) individually.
March 2016 $20.7 Million 33.6%
February 2016 $15.4 Million 73.2%
January 2016 $14.3 Million 3.6%
December 2015 $14.4 Million 30.1%
November 2015 $13.8 Million 22.6%
October 2015 $12.4 Million 10.1%
September 2015 $14.0 Million 43.0%
August 2015 $13.7 Million 66.4%
July 2015 $17.8 Million 55.0%
MonthMed. Pct. of Orig. List
Price Received
Percent Change
Year-over-Year
July 2016 94.1% 1.2%
June 2016 94.3% -0.7%
May 2016 94.7% 1.4%
April 2016 94.4% 0.4%
December 2015 94.2% 1.2%
November 2015 94.7% -1.3%
February 2016 95.2% 0.4%
January 2016 92.2% -1.9%Economists' note : The Median Percent of Original List Price Received
is useful as an indicator of market recovery, since it typically rises as
buyers realize that the market may be moving away from them and
they need to match the selling price (or better it) in order to get a
contract on the house. This is usually the last measure to indicate a
market has shifted from down to up, so it is what we would call a
lagging indicator. August 2015 95.5% 3.1%
July 2015 93.0% -2.6%
October 2015 92.1% -4.1%
September 2015 93.8% 0.0%
March 2016 93.7% 1.1%
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Monthly Market Detail - July 2016
2012 2013 2014 2015 2016
Sumter County Single Family Homes
Dollar Volume The sum of the sale prices for all sales which closed during the month
2012 2013 2014 2015 2016
Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
MonthMedian Time to
Contract
Percent Change
Year-over-Year
July 2016 63 Days -24.1%
June 2016 68 Days 58.1%
May 2016 69 Days 46.8%
April 2016 53 Days 26.2%
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which closed
during the month. The difference is that Time to Contract measures
the number of days between the initial listing of a property and the
signing of the contract which eventually led to the closing of the sale.
When the gap between Median Time to Contract and Median Time to
Sale grows, it is usually a sign of longer closing times and/or declining
numbers of cash sales.
March 2016 80 Days 1.3%
February 2016 61 Days -19.7%
January 2016 72 Days 9.1%
December 2015 61 Days 3.4%
November 2015 51 Days 64.5%
October 2015 84 Days 75.0%
September 2015 83 Days 93.0%
August 2015 48 Days -50.5%
July 2015 83 Days 107.5%
Month Median Time to SalePercent Change
Year-over-Year
July 2016 116 Days -10.8%
June 2016 112 Days 15.5%
May 2016 105 Days 11.7%
April 2016 94 Days 14.6%
Economists' note : Time to Sale is a measure of the length of the home
selling process, calculated as the number of days between the initial
listing of a property and the closing of the sale. Median Time to Sale is
the amount of time the "middle" property selling this month was on
the market. That is, 50% of homes selling this month took less time to
sell, and 50% of homes took more time to sell. Median Time to Sale
gives a more accurate picture than Average Time to Sale, which can be
skewed upward by small numbers of properties taking an abnormally
long time to sell.
March 2016 124 Days -3.9%
February 2016 112 Days -0.9%
January 2016 130 Days 16.1%
December 2015 100 Days -6.5%
November 2015 90 Days 12.5%
October 2015 125 Days 52.4%
September 2015 123 Days 32.3%
August 2015 99 Days -31.3%
July 2015 130 Days 44.4%
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2012 2013 2014 2015 2016
Sumter County Single Family Homes
Median Time to Contract The median number of days between the listing date and contract date for all Closed Sales during the month
2012 2013 2014 2015 2016
Median Time to Sale The median number of days between the listing date and closing date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
Month New Pending SalesPercent Change
Year-over-Year
July 2016 92 27.8%
December 2015 50 16.3%
June 2016 87 35.9%
May 2016 79 12.9%
February 2016 73 -1.4%
January 2016 87 38.1%
April 2016 117 120.8%
March 2016 91 26.4%
November 2015 47 14.6%
October 2015 78 23.8%
September 2015 63 -7.4%
August 2015 74 60.9%
July 2015 72 44.0%
Month New ListingsPercent Change
Year-over-Year
July 2016 106 14.0%
June 2016 129 40.2%
May 2016 105 10.5%
April 2016 123 39.8%
December 2015 74 25.4%
November 2015 84 7.7%
12.4%
February 2016 111 9.9%
January 2016 117 5.4%
Economists' note : New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly relisted,
since these are not really new listings.
Economists' note : Because of the typical length of time it takes for a
sale to close, economists consider Pending Sales to be a decent
indicator of potential future Closed Sales. It is important to bear in
mind, however, that not all Pending Sales will be closed successfully.
So, the effectiveness of Pending Sales as a future indicator of Closed
Sales is susceptible to changes in market conditions such as the
availability of financing for homebuyers and the inventory of
distressed properties for sale.
August 2015 88 -8.3%
July 2015 93 32.9%
October 2015 116 20.8%
September 2015 87 -1.1%
March 2016 109
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s Monthly Market Detail - July 2016
2012 2013 2014 2015 2016
Sumter County Single Family Homes
New Pending Sales The number of listed properties that went under contract during the month
2012 2013 2014 2015 2016
New Listings The number of properties put onto the market during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
July 2015 7.7 6.9%
September 2015 7.3 -5.2%
August 2015 7.5 -6.3%
November 2015 7.5 -10.7%
October 2015 7.4 -3.9%
January 2016 7.5 -9.6%
December 2015 7.2 -12.2%
March 2016 6.8 -15.0%
February 2016 7.6 -10.6%
May 2016 6.1 -24.7%
April 2016 7.0 -11.4%
July 2016 6.2 -19.5%
June 2016 6.3 -21.3%
July 2015 411 20.5%
Month Months SupplyPercent Change
Year-over-Year
September 2015 416 16.5%
August 2015 410 12.3%
November 2015 435 9.8%
October 2015 423 15.9%
January 2016 432 6.1%
December 2015 423 9.6%
10.7%
March 2016 428 5.2%
February 2016 464 13.7%Economists' note : There are a number of ways to define and calculate
Inventory. Our method is to simply count the number of active listings
on the last day of the month, and hold this number to compare with the
same month the following year. Inventory rises when New Listings are
outpacing the number of listings that go off-market (regardless of
whether they actually sell). Likewise, it falls when New Listings aren't
keeping up with the rate at which homes are going off-market.
Economists' note : MSI is a useful indicator of market conditions. The
benchmark for a balanced market (favoring neither buyer nor seller) is
5.5 months of inventory. Anything higher is traditionally a buyers'
market, and anything lower is a sellers' market. There is no single
accepted way of calculating MSI. A common method is to divide
current Inventory by the most recent month's Closed Sales count, but
this count is a usually poor predictor of future Closed Sales due to
seasonal cycles. To eliminate seasonal effects, we use the 12-month
average of monthly Closed Sales instead.
Month InventoryPercent Change
Year-over-Year
July 2016 443 7.8%
June 2016 445 8.5%
May 2016 412 -0.5%
April 2016 455
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Monthly Market Detail - July 2016
2012 2013 2014 2015 2016
Sumter County Single Family Homes
Inventory (Active Listings) The number of property listings active at the end of the month
2012 2013 2014 2015 2016
Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
$600,000 - $999,999 227 Days 198.7%
$1,000,000 or more (No Sales) N/A
Economists' note : Like Time to Sale, Time to Contract is a measure of
the length of the home selling process calculated for sales which closed
during the month. The difference is that Time to Contract measures
the number of days between the initial listing of a property and the
signing of the contract which eventually led to the closing of the sale.
When the gap between Median Time to Contract and Median Time to
Sale grows, it is usually a sign of longer closing times and/or declining
numbers of cash sales.
$150,000 - $199,999 56 Days 19.1%
$200,000 - $249,999 59 Days 126.9%
$250,000 - $299,999
$400,000 - $599,999 89 Days 256.0%
66 Days -52.9%
$300,000 - $399,999 53 Days -44.8%
Economists' note: Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend comparing the percent changes in sales rather than the
number of sales. Closed Sales (and many other market metrics) are
affected by seasonal cycles, so actual trends are more accurately
represented by year-over-year changes (i.e. comparing a month's sales
to the amount of sales in the same month in the previous year), rather
than changes from one month to the next.
Sale PriceMedian Time to
Contract
Percent Change
Year-over-Year
Less than $50,000 136 Days 183.3%
$1,000,000 or more 0 N/A
$250,000 - $299,999 11 22.2%
$300,000 - $399,999 6 -25.0%
$50,000 - $99,999 35 Days -68.2%
$100,000 - $149,999
$400,000 - $599,999 11 120.0%
$600,000 - $999,999 3 0.0%
23 Days -50.0%
$150,000 - $199,999 14 -12.5%
$200,000 - $249,999 21 31.3%
$100,000 - $149,999 8 300.0%
Sale Price Closed SalesPercent Change
Year-over-Year
Less than $50,000 6 100.0%
$50,000 - $99,999 8 -46.7%
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$600,000 - $999,999
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Monthly Market Detail - July 2016
Sumter County Single Family Homes
Closed Sales by Sale Price The number of sales transactions which closed during the month
Median Time to Contract by Sale Price The median number of days between the listing date and contract date for all Closed Sales during the month
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
$600,000 - $999,999 26 62.5%
$1,000,000 or more 15 50.0%
Economists' note : There are a number of ways to define and calculate
Inventory. Our method is to simply count the number of active listings
on the last day of the month, and hold this number to compare with the
same month the following year. Inventory rises when New Listings are
outpacing the number of listings that go off-market (regardless of
whether they actually sell). Likewise, it falls when New Listings aren't
keeping up with the rate at which homes are going off-market.
$150,000 - $199,999 69 50.0%
$200,000 - $249,999 85 26.9%
$250,000 - $299,999 65 -11.0%
$300,000 - $399,999 53 -1.9%
$400,000 - $599,999 50 11.1%
$50,000 - $99,999 37 -27.5%
$100,000 - $149,999 30 -9.1%
Current Listing Price InventoryPercent Change
Year-over-Year
Less than $50,000 13 -18.8%
$600,000 - $999,999 4 100.0%
$1,000,000 or more 1 -50.0%
Economists' note: New Listings tend to rise in delayed response to
increasing prices, so they are often seen as a lagging indicator of
market health. As prices rise, potential sellers raise their estimations
of value—and in the most recent cycle, rising prices have freed up
many potential sellers who were previously underwater on their
mortgages. Note that in our calculations, we take care to not include
properties that were recently taken off the market and quickly relisted,
since these are not really new listings.
$150,000 - $199,999 23 76.9%
$200,000 - $249,999 19 18.8%
$250,000 - $299,999 18 38.5%
$300,000 - $399,999 15 -21.1%
$400,000 - $599,999 6 -40.0%
$50,000 - $99,999 7 -30.0%
$100,000 - $149,999 7 40.0%
Initial Listing Price New ListingsPercent Change
Year-over-Year
Less than $50,000 6 100.0%
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$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
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$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
$1,000,000 or more
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ry
July 2015 July 2016
0 10 20 30 40 50 60 70 80 90
0
5
10
15
20
25
Monthly Market Detail - July 2016
Sumter County Single Family Homes
New Listings by Initial Listing Price The number of properties put onto the market during the month
Inventory by Current Listing Price The number of property listings active at the end of the month
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
A
M
J
J
A
S
O
N
D
J
F
M
A
M
J
J
Produced by Florida REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.
Data released on Wednesday, August 24, 2016. Next data release is Thursday, September 22, 2016.
Short Sale
2 0 N/A
$230,000 (No Sales) N/A
Foreclosure/REO
14 11 27.3%
$95,500 $98,900 -3.4%
July 2016 July 2015Percent Change
Year-over-Year
Traditional
72 66 9.1%
$227,500 $218,500 4.1%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Me
dia
n S
ale
Pri
ce
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Clo
sed
Sal
es
Traditional Foreclosure/REO Short Sale
2012 2013 2014 2015 2016
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J
Monthly Distressed Market - July 2016
Sumter County Single Family Homes
2012 2013 2014 2015 2016