REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

January

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

Sunday January 1st, 2012

at the real estate market. Currentlythere are 289 sales pending in themarket overall, leaving 1,589 listingsstill for sale. The resulting pendingratio is 15.3% (289 divided by 1,878).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 mildly active.”

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

We also notice that the $250K -$300K price range has a relativelylarge inventory of properties for saleat 142 listings. The average list price(or asking price) for all properties inthis market is $595,364.

Let’s take a look

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A total of 1,573 contracts have closed in the last 6months with an average sold price of $399,280.Breaking it down, we notice that the $250K - $300Kprice range contains the highest number of soldlistings.

Alternatively, a total of 943 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

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Number of Listings For Sale vs. PendingWilliamson County

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REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Sunday January 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 110 days.

Analysis of sold properties for the last6 months reveals an average sold priceof $399,280 and 91 days on market.Notice that properties in the $250K -$300K price range have sold quickestover 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$417,588 with an average DOM of 101days.

Since the recent DOM is greater thanthe average DOM for the last 6months, it is a negative indicator fordemand. It is always important torealize that the real estate market canfluctuate due to many factors,including shifting interest rates, theeconomy, or seasonal changes.

“The average list-to-sales ratio forthis area is 96.3%.”

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 6.1 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

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Average Sale PricesWilliamson County

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Sunday January 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 $299,999 142 100 $278,030 35 19.8% 100 215 79 $283,915 $275,172 96.9% 4.0

$300,000 $349,999 117 99 $328,720 35 23.0% 82 178 83 $333,188 $324,792 97.5% 3.9

$350,000 $399,999 139 109 $380,729 28 16.8% 93 128 97 $384,671 $374,330 97.3% 6.5

$400,000 $449,999 114 111 $429,742 19 14.3% 65 137 95 $434,729 $423,136 97.3% 5.0

$450,000 $499,999 122 98 $480,598 17 12.2% 62 125 102 $490,276 $473,790 96.6% 5.9

$500,000 $549,999 85 95 $530,345 14 14.1% 49 86 90 $542,380 $520,546 96.0% 5.9

$550,000 $599,999 70 115 $581,187 10 12.5% 52 74 91 $591,926 $574,187 97.0% 5.7

$600,000 $649,999 60 104 $631,000 10 14.3% 25 50 96 $639,795 $622,052 97.2% 7.2

$650,000 $699,999 57 113 $683,432 13 18.6% 44 44 103 $689,952 $672,214 97.4% 7.8

$700,000 $749,999 37 113 $731,572 6 14.0% 16 28 98 $749,151 $723,483 96.6% 7.9

$750,000 $799,999 41 121 $778,599 7 14.6% 16 19 91 $787,535 $766,331 97.3% 12.9

$800,000 $849,999 12 107 $833,929 5 29.4% 9 13 93 $825,430 $817,395 99.0% 5.5

$850,000 $899,999 37 123 $884,078 6 14.0% 15 8 173 $933,424 $864,375 92.6% 27.8

$900,000 $949,999 13 153 $931,804 4 23.5% 2 10 105 $950,209 $918,277 96.6% 7.8

$950,000 $999,999 24 153 $986,054 1 4.0% 17 8 86 $1,019,125 $960,645 94.3% 18.0

1 Mill MAX 158 143 $2,145,639 11 6.5% 77 38 119 $1,570,866 $1,420,287 90.4% 24.9

Market Summary>> 1,589 110 $595,364 289 15.4% 943 1,573 91 $414,732 $399,280 96.3% 6.1

Previous Month>> 1,727 115 $606,666 304 15.0% 859 1,644 89 $412,096 $400,309 97.1% 6.3

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: 7/01/2011 - 1/01/2012 Data believed to be accurate but not guaranteed.

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Sunday January 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 15 76 $1,076,346 1 6.3% 5 10 114 $1,181,689 $1,049,103 88.8% 9.0

$1,100,000 $1,199,999 15 133 $1,158,266 5 25.0% 6 3 102 $1,216,574 $1,133,333 93.2% 30.0

$1,200,000 $1,299,999 22 132 $1,252,126 1 4.3% 11 6 108 $1,334,483 $1,243,500 93.2% 22.0

$1,300,000 $1,399,999 10 160 $1,364,760 1 9.1% 10 4 205 $1,368,500 $1,325,000 96.8% 15.0

$1,400,000 $1,499,999 14 128 $1,479,842 2 12.5% 7 3 165 $1,581,500 $1,441,666 91.2% 28.0

$1,500,000 $1,599,999 3 143 $1,566,666 1 25.0% 3 4 39 $1,615,253 $1,551,503 96.1% 4.5

$1,600,000 $1,699,999 9 139 $1,670,977 0 0.0% 1 0 0 $0 $0 #DIV0 #DIV0

$1,700,000 $1,799,999 6 88 $1,762,333 0 0.0% 6 1 104 $1,899,000 $1,700,000 89.5% 36.0

$1,800,000 $1,899,999 3 152 $1,864,966 0 0.0% 2 2 251 $1,949,450 $1,889,500 96.9% 9.0

$1,900,000 $1,999,999 8 115 $1,977,925 0 0.0% 8 0 0 $0 $0 #DIV0 #DIV0

$2,000,000 $2,099,999 0 0 $0 0 #DIV0 0 3 43 $2,382,666 $2,002,962 84.1% 0.0

$2,100,000 $2,199,999 5 63 $2,154,780 0 0.0% 3 0 0 $0 $0 #DIV0 #DIV0

$2,200,000 $2,299,999 1 212 $2,299,000 0 0.0% 0 0 0 $0 $0 #DIV0 #DIV0

$2,300,000 $2,399,999 2 186 $2,388,950 0 0.0% 2 0 0 $0 $0 #DIV0 #DIV0

$2,400,000 $2,499,999 0 0 $0 0 #DIV0 2 0 0 $0 $0 #DIV0 #DIV0

$2,500,000 MAX 45 191 $3,866,615 0 0.0% 11 2 109 $3,297,000 $2,650,000 80.4% 135.0

Market Summary>> 1,589 110 $595,364 289 15.4% 943 1,573 91 $414,732 $399,280 96.3% 6.1

Previous Month>> 1,727 115 $606,666 304 15.0% 859 1,644 89 $416,209 $400,309 96.2% 6.3

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: 7/01/2011 - 1/01/2012 Data believed to be accurate but not guaranteed.

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Sunday January 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.