REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

August

2012

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TABLE OF CONTENTS

Market Dashboard…………………………….. Pages 1-2Number For Sale vs. Under ContractNumber Sold vs. ExpiredDays On Market (Sold vs. Expired)Sold Listings - Prices (Last 6 Months)Sold Listings - Days On Market (Last 6 Months)

Market Summary Table ($250K-$1 Million)….….. Page 3

Market Summary Table ($1 Million-$2.5 Million).. Page 4

Glossary…………………….……………………… Page 5

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REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Wednesday August 1st, 2012

at the real estate market. Currentlythere are 584 sales pending in themarket overall, leaving 1,934 listingsstill for sale. The resulting pendingratio is 23.2% (584 divided by 2,518).So you might be asking yourself, that’sgreat… but what exactly does it mean?I’m glad you asked!

Typically, a pending ratio indicatesthe supply and demand of themarket. Specifically, a high ratiomeans that listings are in demandand quickly going to contract.Alternatively, a low ratio meansthere are not enough qualifiedbuyers for the existing supply.

“The current inventory can best bedescribed as increasingly active.”

Taking a closer look, we notice thatthe $300K - $350K price range has arelatively large number of contractspending sale.

We also notice that the $350K -$400K price range has a relativelylarge inventory of properties for saleat 197 listings. The average list price(or asking price) for all properties inthis market is $623,104.

Let’s take a look

Contracts Pending For Sale

A total of 1,926 contracts have closed in the last 6months with an average sold price of $407,083.Breaking it down, we notice that the $250K - $300Kprice range contains the highest number of soldlistings.

Alternatively, a total of 665 listings have expired inthat same period of time. Listings may expire formany reasons such as being priced too high, havingbeen inadequately marketed, the property was inpoor condition, or perhaps the owner had secondthoughts about selling at this particular time. The$250K - $300K price range has the highest numberof expired listings at 100 properties.

Market Dashboard1

SoldExpired

Number of Listings For Sale vs. PendingWilliamson County

Number of Sold vs Expired (Last 6 Mos.)Williamson County

0

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75

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REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Wednesday August 1st, 2012

Looking at the chart to the right, youmight be wondering why average dayson market (DOM) is important. Thisis a useful measurement because it canhelp us to determine whether we are ina buyer’s market (indicated by highDOM), or a seller’s market (indicatedby low DOM). Active listings, orproperties for sale, have been on themarket for an average of 94 days.

Analysis of sold properties for the last6 months reveals an average of 85 dayson market. Notice that properties in the$950K - $1M price range have soldquickest over the last six months.

The recent history of sales can be seenin the two charts below. The averagesold price for the last 30 days was$408,965 with an average DOM of 76days.

Since the recent DOM is less than theaverage DOM for the last 6 months, itis a positive indicator for demand. It isalways important to realize that thereal estate market can fluctuate due tomany factors, including shiftinginterest rates, the economy, or seasonalchanges.

“The average list-to-sales ratio forthis area is 96.4%.”

Ratios are simple ways to expressthe difference between two valuessuch as list price and sold price. Inour case, we typically use the list-to-sale ratio to determine thepercentage of the final list price thatthe buyer ultimately paid. It is a verycommon method to help buyersdecide how much to offer on aproperty.

Analysis of the absorption rateindicates an inventory of 6.0 monthsbased on the last 6 months of sales.This estimate is often used todetermine how long it would take tosell off the current inventory oflistings if all conditions remained thesame. It is significant to mention thatthis estimate does not take intoconsideration any additionalproperties that will come on themarket in the future.

Continue to Market Summary Table…

Market Dashboard2

ActiveSold Average Days On Market (DOM)

Williamson County

$360K$370K$380K$390K$400K$410K$420K

Average Sale PricesWilliamson County

7580859095

100105

Average Days On Market (Sold)Williamson County

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Wednesday August 1st, 2012

Market Summary Table3

Expired Listings (Last 6 Months)* Absorption Rate

Price Range TotalNum

AvgDOM

AvgList Price

TotalNum

PendingRatio

TotalNum

TotalNum

AvgDOM

AvgList Price

AvgSold Price

List toSales

No. ofMosMin. Max.

$250,000 $299,999 179 77 $278,049 92 33.9% 100 277 78 $280,276 $274,986 98.1% 3.9

$300,000 $349,999 194 82 $329,435 99 33.8% 51 219 78 $331,990 $323,952 97.6% 5.3

$350,000 $399,999 197 73 $378,995 50 20.2% 54 180 80 $383,859 $373,841 97.4% 6.6

$400,000 $449,999 131 80 $430,409 59 31.1% 42 171 87 $436,010 $424,197 97.3% 4.6

$450,000 $499,999 157 79 $479,834 39 19.9% 72 130 86 $483,416 $471,492 97.5% 7.2

$500,000 $549,999 92 82 $529,495 36 28.1% 37 100 78 $533,298 $521,307 97.8% 5.5

$550,000 $599,999 95 103 $580,819 25 20.8% 30 74 85 $592,554 $573,474 96.8% 7.7

$600,000 $649,999 71 106 $635,813 16 18.4% 24 65 99 $639,436 $622,954 97.4% 6.6

$650,000 $699,999 75 110 $680,916 15 16.7% 14 46 72 $689,372 $678,378 98.4% 9.8

$700,000 $749,999 53 93 $733,797 20 27.4% 13 37 97 $752,087 $723,634 96.2% 8.6

$750,000 $799,999 43 111 $781,815 9 17.3% 11 18 123 $800,378 $775,036 96.8% 14.3

$800,000 $849,999 22 97 $840,061 4 15.4% 1 17 86 $857,995 $824,584 96.1% 7.8

$850,000 $899,999 52 100 $879,000 5 8.8% 19 23 114 $895,134 $865,306 96.7% 13.6

$900,000 $949,999 11 224 $934,600 0 0.0% 3 12 78 $988,731 $928,839 93.9% 5.5

$950,000 $999,999 30 141 $981,349 1 3.2% 4 8 33 $996,062 $972,757 97.7% 22.5

1 Mill MAX 189 131 $2,352,070 21 10.0% 49 55 121 $1,730,538 $1,552,230 89.7% 20.6

Market Summary>> 1,934 94 $623,104 584 23.2% 665 1,926 85 $422,149 $407,083 96.4% 6.0

Previous Month>> 0 0 $0 0 #DIV0 667 1,675 88 $424,236 $408,547 96.3% 0.0

Properties Sold (Last 6 Months)*Contracts Pending

Properties For SaleExpired Listings (Last 6 Months)* Absorption Rate

Properties Sold (Last 6 Months)*Contracts Pending

Properties For Sale

Dates: 2/01/2012 - 8/01/2012 Data believed to be accurate but not guaranteed.

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Wednesday August 1st, 2012

Market Summary Table4

Expired Listings (Last 6 Months)* Absorption Rate

Price Range TotalNum

AvgDOM

AvgList Price

TotalNum

PendingRatio

TotalNum

TotalNum

AvgDOM

AvgList Price

AvgSold Price

List toSales

No. ofMosMin. Max.

$1,000,000 $1,099,999 19 106 $1,076,831 5 20.8% 5 11 81 $1,111,430 $1,036,367 93.2% 10.4

$1,100,000 $1,199,999 17 131 $1,179,611 3 15.0% 4 7 99 $1,250,060 $1,131,084 90.5% 14.6

$1,200,000 $1,299,999 23 111 $1,269,196 7 23.3% 5 10 134 $1,352,195 $1,229,139 90.9% 13.8

$1,300,000 $1,399,999 18 105 $1,365,205 1 5.3% 4 7 81 $1,444,642 $1,342,466 92.9% 15.4

$1,400,000 $1,499,999 11 91 $1,469,587 2 15.4% 2 3 91 $1,529,966 $1,446,666 94.6% 22.0

$1,500,000 $1,599,999 15 88 $1,565,066 0 0.0% 3 4 87 $1,720,325 $1,545,350 89.8% 22.5

$1,600,000 $1,699,999 7 148 $1,661,842 0 0.0% 4 2 216 $1,949,500 $1,665,000 85.4% 21.0

$1,700,000 $1,799,999 5 137 $1,739,800 1 16.7% 1 1 74 $1,785,000 $1,700,000 95.2% 30.0

$1,800,000 $1,899,999 6 208 $1,893,315 0 0.0% 0 3 203 $1,866,633 $1,816,666 97.3% 12.0

$1,900,000 $1,999,999 11 128 $1,959,800 1 8.3% 4 1 25 $1,995,000 $1,940,000 97.2% 66.0

$2,000,000 $2,099,999 2 117 $2,000,000 0 0.0% 1 1 57 $2,199,000 $2,000,000 91.0% 12.0

$2,100,000 $2,199,999 3 62 $2,155,000 0 0.0% 1 0 0 $0 $0 #DIV0 #DIV0

$2,200,000 $2,299,999 6 196 $2,257,333 0 0.0% 0 0 0 $0 $0 #DIV0 #DIV0

$2,300,000 $2,399,999 3 202 $2,375,966 0 0.0% 0 0 0 $0 $0 #DIV0 #DIV0

$2,400,000 $2,499,999 2 232 $2,474,999 1 33.3% 1 0 0 $0 $0 #DIV0 #DIV0

$2,500,000 MAX 41 169 $5,397,195 0 0.0% 14 5 272 $4,723,979 $3,885,000 82.2% 49.2

Market Summary>> 1,934 94 $623,104 584 23.2% 665 1,926 85 $422,149 $407,083 96.4% 6.0

Previous Month>> 0 0 $0 0 #DIV0 667 1,675 88 $424,236 $408,547 96.3% 0.0

Properties Sold (Last 6 Months)*Contracts Pending

Properties For SaleExpired Listings (Last 6 Months)* Absorption Rate

Properties Sold (Last 6 Months)*Contracts Pending

Properties For Sale

Dates: 2/01/2012 - 8/01/2012 Data believed to be accurate but not guaranteed.

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Wednesday August 1st, 2012

Glossary5

1. PROPERTIES FOR SALENumber Active: The number of listings for sale which are currently being marketed but do not yet have apurchase agreement.

a.

b. Average Days On Market (DOM): The average marketing period of currently active listings. This does notaccount for some listings which have had a previous listing period, but were re-entered as a new listing.

c. Average List Price: The average price that a seller is currently asking.

2. CONTRACTS PENDINGa. Number Pending: The number of current listings for which a contract has been signed but has not yet

closed.b. Pending Ratio: Sometimes called a “list to pending ratio”. This is a measure of how fast properties are

going under contract vs. how fast they are being listed.

Pending Ratio= P(Number of Pending Listings)A+P(Number of Active + Pending)

(P) represents properties that buyers have chosen(A+P) represents the entire pool from which they have chosen

3. EXPIRED LISTINGSa. Number Expired: The number of listing agreements that have expired in the last 6 months. Some owners

may choose to re-offer their property for sale.

4. PROPERTIES SOLDa. Number Sold: The number of properties that have gone to a closing in the last 6 months.

b. Average Days On Market (DOM): The average marketing time it has taken to sell in the last 6 months.

c. Average Original List Price: The average price at which a sold property was originally marketed.

d. Average List Price: The average price at which a sold property was marketed just prior to selling.e. Average Sold Price: The average price for which a property sold.f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.

List to Sales Ratio= Average Sold PriceAverage List Price

5. OTHERAbsorption Rate/Months of Inventory: An estimate of how fast listings are currently selling measured inmonths. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8month supply of inventory before counting the additional properties that will come on the market.

a.