market activity for the 10may 2013 75 91 -17.6% 12-month avg* 88 102 -13.7% average number of days...
TRANSCRIPT
May 2013 Activity Snapshot
One-Year Change in One-Year Change inClosed Sales Median Sales Price
2
Monthly Indicators
+ 2.9% + 35.7% - 27.1%One-Year Change inWe're halfway through the year and it seems our collective attention has shifted
from monitoring price and sales gains to eagerly anticipating more new listing activity on the part of sellers. This shift is the result of an imbalance between strong demand for homes and constrained supply. In some markets, purchase agreements are being written up directly after a showing. Your experience and local market conditions may differ, but the market as a whole has summertime heat.
Homes for Sale
A research tool provided by the Georgia Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.
Activity Overview 23456789
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Click on desired metric to jump to that page.
Changes in methodology were implemented in October 2012 to provide a more accurate count of inventory and related metrics. Due to MLS purging rules, activity before 2008 cannot be updated and therefore shifts in the trendlines may occur. Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing.
Pending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales PricePercent of Original List Price Received
New Listings were up 3.0 percent to 12,275. Pending Sales increased 20.7 percent to 9,939. Inventory shrank 27.1 percent to 36,518 units.
Prices moved higher as Median Sales Price was up 35.7 percent to $148,000. Days on Market decreased 17.6 percent to 75 days. Months Supply of Inventory was down 28.6 percent to 5.0 months, indicating that demand increased relative to supply.
Interest rate risk is back in the headlines after Fed chief Ben Bernanke's latest testimony on Capitol Hill. The Federal Reserve Bank is considering decreasing its $85 billion a month bond asset purchases, which have been holding interest rates at or near historic lows. This is mostly the result of an improving jobs market, which is a good thing for real estate.
Activity OverviewNew Listings
Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Activity Overview
Key Metrics Historical Sparkbars 5-2012 5-2013 Percent Change YTD 2012 YTD 2013 Percent Change
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
New Listings 11,919 12,275 + 3.0% 57,909 - 5.6%
Pending Sales 8,232 9,939 + 20.7% 38,344 40,813 + 6.4%
61,351
- 3.3%
Days on Market Until Sale 91 75 - 17.6% 98 82 - 16.3%
Closed Sales 7,982 8,212 + 2.9% 34,333 33,201
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
+ 33.6%
Average Sales Price $152,407 $192,388 + 26.2% $139,766 $172,334 + 23.3%
Median Sales Price $109,100 $148,000 + 35.7% $98,000 $130,900
Inventory of Homes for Sale 50,111 36,518 - 27.1% -- --
Months Supply of Inventory 7.0 5.0 - 28.6% --
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
+ 4.5%
Affordability Index 316 251 - 20.6% 341 276 - 19.1%
Pct. of Orig. Price Received 92.5% 95.6% + 3.4% 90.7% 94.8%
--
-- --
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
5-2010 5-2011 5-2012 5-2013
New Listings
Prior Year Percent Change
June 2012 11,550 13,315 -13.3%
July 2012 10,839 11,559 -6.2%
August 2012 10,911 12,462 -12.4%
September 2012 9,298 11,171 -16.8%
October 2012 10,162 11,032 -7.9%
November 2012 7,927 9,525 -16.8%
December 2012 6,575 8,478 -22.4%
January 2013 10,855 11,783 -7.9%
February 2013 10,275 11,554 -11.1%
March 2013 12,309 13,225 -6.9%
April 2013 12,195 12,870 -5.2%
May 2013 12,275 11,919 +3.0%
12-Month Avg 10,431 11,574 -9.9%
A count of the properties that have been newly listed on the market in a given month.
New Listings
13,25211,919 12,275
2011 2012 2013
May
68,59461,351
57,909
2011 2012 2013
Year to Date
- 5.6%- 10.1% + 3.0% - 10.6%- 3.3% - 9.3%
Historical New Listings by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
2011 2012 2013
5,000
10,000
15,000
20,000
25,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Pending Sales
Prior Year Percent Change
June 2012 7,976 7,852 +1.6%
July 2012 7,502 7,021 +6.9%
August 2012 7,484 7,819 -4.3%
September 2012 5,885 6,760 -12.9%
October 2012 7,062 6,435 +9.7%
November 2012 6,167 5,937 +3.9%
December 2012 5,409 5,662 -4.5%
January 2013 6,668 6,672 -0.1%
February 2013 6,835 7,359 -7.1%
March 2013 8,121 8,131 -0.1%
April 2013 9,250 7,950 +16.4%
May 2013 9,939 8,232 +20.7%
12-Month Avg 7,358 7,153 +2.9%
A count of the properties on which offers have been accepted in a given month.
Pending Sales
7,5288,232
9,939
2011 2012 2013
May
34,10238,344
40,813
2011 2012 2013
Year to Date
+ 6.4%+ 9.4% + 20.7% + 12.4%+ 46.1% + 0.5%
Historical Pending Sales by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
2011 2012 2013
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Closed Sales
Prior Year Percent Change
June 2012 8,453 8,235 +2.6%
July 2012 8,076 7,234 +11.6%
August 2012 8,412 7,871 +6.9%
September 2012 6,700 7,286 -8.0%
October 2012 7,282 6,650 +9.5%
November 2012 6,553 5,989 +9.4%
December 2012 6,259 6,720 -6.9%
January 2013 5,275 5,444 -3.1%
February 2013 5,657 6,129 -7.7%
March 2013 6,949 7,595 -8.5%
April 2013 7,108 7,183 -1.0%
May 2013 8,212 7,982 +2.9%
12-Month Avg 7,078 7,027 +0.7%
A count of the actual sales that closed in a given month.
Closed Sales
7,3627,982 8,212
2011 2012 2013
May
29,723
34,333 33,201
2011 2012 2013
Year to Date
- 3.3%+ 8.4% + 2.9% + 15.5%+ 2.3% - 3.0%
Historical Closed Sales by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
2011 2012 2013
4,000
6,000
8,000
10,000
12,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Days on Market Until Sale
Prior Year Percent Change
June 2012 89 103 -13.6%
July 2012 90 105 -14.3%
August 2012 91 105 -13.3%
September 2012 90 106 -15.1%
October 2012 96 105 -8.6%
November 2012 93 103 -9.7%
December 2012 94 105 -10.5%
January 2013 88 101 -12.9%
February 2013 85 102 -16.7%
March 2013 85 100 -15.0%
April 2013 80 96 -16.7%
May 2013 75 91 -17.6%
12-Month Avg* 88 102 -13.7%
Average number of days between when a property is listed and when an offer is accepted in a given month.
Days on Market
10091
75
2011 2012 2013
May
10498
82
2011 2012 2013
Year to Date
- 16.3%- 9.0% - 17.6% - 5.8%+ 5.3% + 5.1%
Historical Days on Market Until Sale by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
* Average Days on Market of all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
70
80
90
100
110
120
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Median Sales Price
Prior Year Percent Change
June 2012 $114,000 $109,900 +3.7%
July 2012 $116,000 $112,000 +3.6%
August 2012 $112,500 $105,000 +7.1%
September 2012 $112,500 $95,000 +18.4%
October 2012 $110,000 $92,000 +19.6%
November 2012 $116,000 $95,000 +22.1%
December 2012 $120,211 $95,500 +25.9%
January 2013 $112,000 $87,000 +28.7%
February 2013 $118,850 $86,500 +37.4%
March 2013 $132,000 $98,080 +34.6%
April 2013 $137,400 $105,000 +30.9%
May 2013 $148,000 $109,100 +35.7%
12-Month Med* $120,000 $99,900 +20.1%
Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Median Sales Price
$106,925 $109,100
$148,000
2011 2012 2013
May
$105,000$98,000
$130,900
2011 2012 2013
Year to Date
+ 33.6%+ 2.0% + 35.7% - 6.7%- 15.1% - 12.4%
Historical Median Sales Price by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
* Median Sales Price of all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Average Sales Price
Prior Year Percent Change
June 2012 $158,859 $156,605 +1.4%
July 2012 $159,820 $157,506 +1.5%
August 2012 $151,913 $145,659 +4.3%
September 2012 $152,595 $135,663 +12.5%
October 2012 $151,881 $133,618 +13.7%
November 2012 $154,576 $136,073 +13.6%
December 2012 $164,562 $137,190 +20.0%
January 2013 $149,579 $126,246 +18.5%
February 2013 $157,269 $127,278 +23.6%
March 2013 $171,639 $138,988 +23.5%
April 2013 $178,658 $147,373 +21.2%
May 2013 $192,388 $152,407 +26.2%
12-Month Avg* $162,532 $142,174 +14.3%
Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Average Sales Price
$151,656 $152,407
$192,388
2011 2012 2013
May
$146,019 $139,766
$172,334
2011 2012 2013
Year to Date
+ 23.3%+ 0.5% + 26.2% - 4.3%- 6.5% - 4.8%
Historical Average Sales Price by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
* Average Sales Price of all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Percent of Original List Price Received
Prior Year Percent Change
June 2012 92.9% 89.2% +4.1%
July 2012 93.1% 89.2% +4.4%
August 2012 93.2% 88.6% +5.2%
September 2012 93.4% 88.7% +5.3%
October 2012 93.7% 88.7% +5.6%
November 2012 93.8% 89.1% +5.3%
December 2012 93.8% 89.1% +5.3%
January 2013 93.4% 89.3% +4.6%
February 2013 94.3% 89.0% +6.0%
March 2013 94.7% 90.3% +4.9%
April 2013 95.3% 91.5% +4.2%
May 2013 95.6% 92.5% +3.4%
12-Month Avg* 93.9% 89.7% +4.7%
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties soldin a given month, not accounting for seller concessions.
Pct. of Orig. Price Received
89.0% 92.5% 95.6%
2011 2012 2013
May
88.2% 90.7%94.8%
2011 2012 2013
Year to Date
+ 4.5%+ 3.9% + 3.4% + 2.8%- 2.7% - 2.6%
Historical Percent of Original List Price Received by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
* Average Pct. of Orig. Price Received for all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
84%
86%
88%
90%
92%
94%
96%
98%
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Housing Affordability Index
Prior Year Percent Change
June 2012 307 296 +3.7%
July 2012 307 291 +5.5%
August 2012 313 312 +0.3%
September 2012 318 340 -6.5%
October 2012 321 345 -7.0%
November 2012 310 340 -8.8%
December 2012 305 339 -10.0%
January 2013 322 363 -11.3%
February 2013 303 367 -17.4%
March 2013 279 333 -16.2%
April 2013 275 321 -14.3%
May 2013 251 316 -20.6%
12-Month Avg 301 301 0.0%
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Affordability Index
299316
251
2011 2012 2013
May
303341
276
2011 2012 2013
Year to Date
- 19.1%+ 5.7% - 20.6% + 12.5%+ 15.0% + 12.2%
Historical Housing Affordability Index by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
2011 2012 2013
100
150
200
250
300
350
400
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
2011 2012 2013
Inventory of Homes for Sale
Prior Year Percent Change
June 2012 48,850 64,691 -24.5%
July 2012 47,506 62,827 -24.4%
August 2012 45,802 60,394 -24.2%
September 2012 44,621 58,190 -23.3%
October 2012 43,823 56,660 -22.7%
November 2012 41,447 54,720 -24.3%
December 2012 38,776 50,688 -23.5%
January 2013 37,543 50,696 -25.9%
February 2013 37,690 50,134 -24.8%
March 2013 38,307 50,245 -23.8%
April 2013 37,724 50,756 -25.7%
May 2013 36,518 50,111 -27.1%
12-Month Avg 41,551 55,009 -24.5%
The number of properties available for sale in active status at the end of a given month.
Homes for Sale
66,344
50,111
36,518
2011 2012 2013
May
- 24.5% - 27.1%- 7.3%
Historical Inventory of Homes for Sale by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
* Homes for Sale for all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
20,000
40,000
60,000
80,000
100,000
120,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
Months Supply of Inventory
Prior Year Percent Change
June 2012 6.8 10.4 -34.6%
July 2012 6.6 10.0 -34.0%
August 2012 6.4 9.4 -31.9%
September 2012 6.3 8.9 -29.2%
October 2012 6.1 8.6 -29.1%
November 2012 5.8 8.1 -28.4%
December 2012 5.4 7.5 -28.0%
January 2013 5.2 7.3 -28.8%
February 2013 5.3 7.2 -26.4%
March 2013 5.4 7.2 -25.0%
April 2013 5.2 7.2 -27.8%
May 2013 5.0 7.0 -28.6%
12-Month Avg 5.8 8.2 -29.3%
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Months Supply
11.0
7.0
5.0
2011 2012 2013
May
- 36.4% - 28.6%+ 0.9%
Historical Months Supply of Inventory by Month
Current as of June 16, 2013. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12
* Months Supply for all properties from June 2012 through May 2013. This is not the average of the individual figures above.
2011 2012 2013
2.5
5.0
7.5
10.0
12.5
15.0
17.5
20.0
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013