STATE OF THE MARKET
JANUARY 27, 2015 12:30 PM
# Sold Whole Market
+ 5.7%
Resale Market?
New Construction ?
+14.5%
- 14.1%
(+332)
5996
4431
1565
EXISTING HOMES SALEBY THE NUMBERS
18% - Below $50,000
(+ 561)
78% - Below $180,000
28% Foreclosure Sales
Median $/S.F. - $73/S.F.-1.83%
(Avg $72,000 at avg $45/s.f.)
Median Price - $117,000Median S.F. - 1636 s.f.
-1.75%
-0.67%
78% of all SalesResidential Sales are
Below $180,000
We are selling 368 Resales/Month!
3,412 Houses for Sale Today
3,412 Houses for Sale todaySelling 368 Houses/Month
3,412/368 = 9.27 Months
6 Months is a Balanced Mkt368 X 6 = 2,172 Houses
3,412 – 2,172 = 1,213 Too Much!
56% Too Many Houses!
3,412 Actives
368 SalesPer Month
56% Too Much!
SUPPLY DEMAND
Residential ResalePrices
Avg $/S.F.
2014 - $73
2013 - $73
2012 - $75
2011 - $76
2010 - $80
DAYS ON MARKET
Top 50% DOM Bottom 50% DOM
25
61
166
1238
<4% $Price >
NEW CONSTRUCTINBY THE NUMBERS
(- 252)
93% - Below $300,000
83% - Between 160k and $300k
Median $/S.F. - $89/S.F.+0.04%
Median Price - $216,000Median S.F - 2409 s.f.
+1.69%
+1.30%
93% of All New Construction Sales happen Below $300,000
New ConstructionPrices2014 $89
The Important Numbers!
Existing Supply!
56% Too Much!
Land Costs
Development Costs
Material & Labor
New Construction
RealtyTrac – Gen Y (1980)
Great Prices! Historic Low
Interest Rates!