Closed Sales - Amazon S3s3.amazonaws.com/files.inetusa.com/531/megafiles/Market...is an indicator of...

This report describes member activity for the association and is not confined to any specific geographic area.

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, February 10, 2016. Next data release is TBD.

994

2012

2011

25.9%

9.1%

6.9%

2010 778

832

908

2015

$231,787 10.3%

1.0%

132 -3.8%

Percent Change

Year-over-Year

681 -6.3%

Closed Sales

90.5%

7.5 -14.4%

127

Average Percent of Original List

Price Received

Pending Inventory

Inventory (Active Listings)

Year

638

Months Supply of Inventory 6.4

Summary Statistics

Closed Sales

Paid in Cash

$255,638

2015

1,305New Pending Sales

New Listings

Median Sale Price

Average Sale Price

2014Percent Change

Year-over-Year

512 490 4.5%

1,194 1,091 9.4%

1,178 10.8%

$184,450 $172,000 7.2%

1,791 1,719 4.2%

99 108 -8.3%

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 using the year-over-year percent changes rather than the

absolute counts. Realtors® and their clients should also be wary of

month-to-month comparisons of Closed Sales because of potential

seasonal effects.

2013 9.5%

2014 9.8%1,091

9.4%1,194

Median Days on Market

91.4%

Monthly Market Detail - 2015

New Smyrna Beach Board of REALTORS® Single Family Homes

600

800

1,000

1,200

1,400

Clo

sed

Sal

es

2010 2011 2012 2013 2014 2015

Closed Sales The number of sales transactions which closed during the month




2012 441 0.5%

2013 51.3% 5.6%

YearPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

2015 42.9% -4.5%

2014 44.9% -12.5%

Year Cash SalesPercent Change

Year-over-Year

2015 512 4.5%

2014 490 -3.9%

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.

2011 439 11.1%

2010 395 65.3%

2013 510 15.6%

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.

2011 52.8% 3.9%

2010 50.8% 31.3%

2012 48.6% -8.0%

35%

40%

45%

50%

55%

Pct

. of

Clo

sed

Sa

les

Pai

d in

Cas

h

200

300

400

500

600

Cas

h S

ale

s Monthly Market Detail - 2015

2010 2011 2012 2013 2014 2015


Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash

2010 2011 2012 2013 2014 2015

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales




Year

YearPercent Change

Year-over-YearNew Listings

Percent Change

Year-over-YearNew Pending Sales

1,305 10.8%

1,178 -33.7%

2015

2014

2011 845

59.1%

-12.7%

1,791 4.2%

1,719 8.7%

1,581 2.7%

-3.3%1,540

1,592

2010 1,824 13.6%

32.1%

1,776

1,116

783 26.7%

7.9%

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.

Economists' note : In a recovering market, we expect that new listings

will eventually rise as sellers raise their estimations of value. But this

increase will take place only after the market has turned up, so New

Listings are a lagging indicator of the health of the market. Also be

aware of properties which have been withdrawn from the market and

then relisted. These are not really New Listings.

2012

2011

2013

2010

2015

2014

2013

2012

1,400

1,500

1,600

1,700

1,800

1,900

Ne

w L

isti

ngs

600

1,100

1,600

2,100

Pe

nd

ing

Sale

s Monthly Market Detail - 2015

2010 2011 2012 2013 2014 2015


New Pending Sales The number of property listings that went from "Active" to "Pending" status during the month

2010 2011 2012 2013 2014 2015

New Listings The number of properties put onto the market during the month




4.7%

2013 $221,394 19.8%

2011 $184,817 -0.2%

2014 $231,787

2012 $142,000 6.0%

$255,638 10.3%

Average Sale PricePercent Change

Year-over-YearYear

2015

Median Sale PricePercent Change

Year-over-YearYear

2015 $184,450 7.2%

2014 $172,000 9.6%

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.

2011 $134,000 -0.7%

2010 $135,000 -6.9%

2013 $157,000 10.6%

Economists' note : As noted above, 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.

2010 $185,168 -6.3%

2009 $197,595 10.4%

$170K

$190K

$210K

$230K

$250K

$270K

Ave

rage

Sal

e

Pri

ce

$120K

$140K

$160K

$180K

$200K

Me

dia

n S

ale

Pri

ce


2010 2011 2012 2013 2014 2015


Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)

2010 2011 2012 2013 2014 2015

Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)




1.1%

2013 89.5% 2.6%

2012 87.2% 3.1%

2014 90.5%

2012 145 -1.4%

91.4% 1.0%

Avg. Pct. of Orig. List

Price Received

Percent Change

Year-over-YearYear

2015

Median Days on

Market

Percent Change

Year-over-YearYear

2015 99 -8.3%

2014 108 -8.5%

Economists' note : Median Days on Market 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. We use the median rather than the average

because the median is not particularly sensitive to sales of homes that

took an unusually large amount of time to sell relative to the vast

majority of homes in the market.

2011 147 -3.3%

2010 152 -1.3%

2013 118 -18.6%

Economists' note : The Average Percent of Original List Price Received

is an indicator of market conditions, in that in a recovering market, the

measure 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 that has shifted from down to up, and is another

lagging indicator.

2011 84.6% 1.6%

2010 83.3% -0.1%

75%

80%

85%

90%

95%

Avg

. Pct

. o

f O

rig.

Li

st P

rice

R

ece

ive

d

0

50

100

150

200

Me

dia

n D

ays

on

M

arke

t Monthly Market Detail - 2015

2010 2011 2012 2013 2014 2015


Median Days on Market The median number of days that properties sold during the month were on the market

2010 2011 2012 2013 2014 2015

Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during the month




-5.6%

2013 7.9 -17.7%

2012 9.6 -31.6%

2014 7.5

2012 729 -25.4%

6.4 -14.4%

Months SupplyPercent Change

Year-over-YearYear

2015

InventoryPercent Change

Year-over-YearYear

2015 638 -6.3%

2014 681 3.7%

Economists' note : There are a number of ways to calculate Inventory,

so these numbers may not match up to others you see in your market.

We calculate Inventory by counting 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.

2011 977 -10.4%

2010 1,090 -8.7%

2013 657 -9.9%

Economists' note : This is an indicator of the state of the market,

whether it is a buyers' market or a sellers' market. The benchmark for

a balanced market (favoring neither buyer nor seller) is 5.5 Months of

Inventory. Higher numbers indicate a buyers' market, lower numbers

a sellers' market.

2011 14.1 N/A

2010 (No Sales) N/A

500

700

900

1,100

1,300

Inve

nto

ry


2010 2011 2012 2013 2014 2015


Inventory (Active Listings) The number of property listings active at the end of the month

5.0

7.0

9.0

11.0

13.0

15.0

Mo

nth

s Su

pp

ly o

f In

ven

tory

2010 2011 2012 2013 2014 2015

Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates




$600,000 - $999,999 161 33.1%

$1,000,000 or more 245 7.9%

Economists' note: Median Days on Market 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. We use the median rather than the average

because the median is not particularly sensitive to sales of homes that

took an unusually large amount of time to sell relative to the vast

majority of homes in the market.

$150,000 - $199,999 96 9.1%

$200,000 - $249,999 117 -7.9%

$250,000 - $299,999

$400,000 - $599,999 112 -26.3%

110 1.9%

$300,000 - $399,999 102 -8.1%

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 using the year-over-year percent changes rather than the

absolute counts. Realtors® and their clients should also be wary of

month-to-month comparisons of Closed Sales because of potential

seasonal effects.

Sale PriceMedian Days on

Market

Percent Change

Year-over-Year

Less than $50,000 130 66.7%

$1,000,000 or more 27 80.0%

$250,000 - $299,999 139 56.2%

$300,000 - $399,999 146 55.3%

$50,000 - $99,999 94 -6.0%

$100,000 - $149,999

$400,000 - $599,999 76 5.6%

$600,000 - $999,999 42 -2.3%

83 -25.2%

$150,000 - $199,999 220 4.8%

$200,000 - $249,999 122 -14.7%

$100,000 - $149,999 273 14.2%

Sale Price Closed SalesPercent Change

Year-over-Year

Less than $50,000 27 -22.9%

$50,000 - $99,999 122 -19.2%

0

50

100

150

200

250

300

Less than $50,000

$50,000 - $99,999

$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

Me

dia

n D

ays

on

Mar

ket

2014 2015

0

50

100

150

200

250

300

0

50

100

150

200

250

300

Less than $50,000

$50,000 - $99,999

$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

Clo

sed

Sal

es

2014 2015

0

50

100

150

200

250

300



Closed Sales by Sale Price The number of sales transactions which closed during the month

Median Days on Market by Sale Price The median number of days that properties sold during the month were on the market




$600,000 - $999,999 54 22.7%

$1,000,000 or more 45 -10.0%

Economists' note: There are a number of ways to calculate Inventory,

so these numbers may not match up to others you see in your market.

We calculate Inventory by counting 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.

$150,000 - $199,999 94 8.0%

$200,000 - $249,999 75 -11.8%

$250,000 - $299,999 74 -2.6%

$300,000 - $399,999 104 1.0%

$400,000 - $599,999 75 -10.7%

$50,000 - $99,999 28 -45.1%

$100,000 - $149,999 87 -8.4%

Current Listing Price InventoryPercent Change

Year-over-Year

Less than $50,000 2 -66.7%

$600,000 - $999,999 108 20.0%

$1,000,000 or more 55 1.9%

Economists' note: In a recovering market, we expect that new listings

will eventually rise as sellers raise their estimations of value. But this

increase will take place only after the market has turned up, so New

Listings are a lagging indicator of the health of the market. Also be

aware of properties which have been withdrawn from the market and

then relisted. These are not really New Listings.

$150,000 - $199,999 313 2.3%

$200,000 - $249,999 213 14.5%

$250,000 - $299,999 204 9.1%

$300,000 - $399,999 277 31.9%

$400,000 - $599,999 154 -9.4%

$50,000 - $99,999 128 -22.0%

$100,000 - $149,999 322 -0.6%

Initial Listing Price New ListingsPercent Change

Year-over-Year

Less than $50,000 17 -39.3%

0

20

40

60

80

100

120

Less than $50,000

$50,000 - $99,999

$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

Inve

nto

ry

2014 2015

0

20

40

60

80

100

120

0

50

100

150

200

250

300

350

Less than $50,000

$50,000 - $99,999

$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

Ne

w L

isti

ngs

2014 2015

0

50

100

150

200

250

300

350



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

0.2378

0.1388



Short Sale

22 48 -54.2%

$135,000 $115,000 17.4%

Foreclosure/REO

83 80 3.8%

$116,450 $99,000 17.6%

2015 2014Percent Change

Year-over-Year

Traditional

1,089 963 13.1%

$195,000 $180,000 8.3%

$0

$50,000

$100,000

$150,000

$200,000

$250,000

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

2010 2011 2012 2013 2014 2015

Monthly Distressed Market Detail - 2015


2010 2011 2012 2013 2014 2015

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