Monthly Market Detail - February 2015 Townhouses …...2015/02/03 · February 2015 67.6% 3.0% January 2015 58.1% -1.3% February 2014 21 -16.0% Month Percent of Closed Sales Paid

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 Monday, March 23, 2015. Next data release is Wednesday, April 22, 2015.

January 2015 31 -8.8%

26.3%

5.7%

December 2014 48

November 2014 37

32.4%

0.0%

-21.8%

29.4%

-5.5%

-8.6%

May 2014 46

April 2014 73

-9.8%

32.7%

-6.3%

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.

October 2014 49

September 2014 43

August 2014 52

March 2014 45

February 2014 32

July 2014 43

June 2014 66

$268,827 -14.0%

114 146 -21.9%

48 25.0%

$222,450 $205,000 8.5%

83 71 16.9%

February 2014Percent Change

Year-over-Year

25 21 19.0%

37 32 15.6%

Summary Statistics

Closed Sales

Paid in Cash

$231,082

February 2015

60New Pending Sales

New Listings

Median Sale Price

February 2015

Average Sale Price

Median Days on Market

94.0%

91

Average Percent of Original List

Price Received

Pending Inventory

Inventory (Active Listings)

Month

437

Months Supply of Inventory 9.2

3.6%

86 5.8%

Percent Change

Year-over-Year

15.6%

452 -3.3%

Closed Sales

37

90.7%

10.2 -9.4%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F

Monthly Market Detail - February 2015

New Smyrna Beach Board of REALTORS® Townhouses and Condos

0

20

40

60

80

Clo

sed

Sal

es

2011 2012 2013 2014

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




March 2014 62.2% 3.0%

February 2014 65.6% -8.1%

May 2014 58.7% -23.2%

April 2014 64.4% 1.2%

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.

October 2014 55.1% 7.3%

September 2014 44.2% -24.0%

August 2014 57.7% -0.8%

July 2014 53.5% -13.5%

June 2014 40.9% -22.7%

December 2014 54.2% -17.7%

November 2014 67.6% 24.5%

February 2015 67.6% 3.0%

January 2015 58.1% -1.3%

February 2014 21 -16.0%

MonthPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

April 2014 47 34.3%

March 2014 28 -3.4%

June 2014 27 0.0%

May 2014 27 -30.8%

November 2014 25 31.6%

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.

October 2014 27 42.1%

September 2014 19 -24.0%

August 2014 30 -6.3%

July 2014 23 -32.4%

January 2015 18 -10.0%

December 2014 26 4.0%

Month Cash SalesPercent Change

Year-over-Year

February 2015 25 19.0%



30%

50%

70%

90%

110%

Pct

. of

Clo

sed

Sa

les

Pai

d in

Cas

h

0

10

20

30

40

50

Cas

h S

ale

s Monthly Market Detail - February 2015

2011 2012 2013 2014


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

2011 2012 2013 2014

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




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.

April 2014

March 2014

February 2014

September 2014

August 2014

July 2014

June 2014

May 2014

June 2014

July 2014

August 2014

September 2014

October 2014

February 2015

January 2015

December 2014

November 2014

October 2014 48

39

45

55

52

42

Percent Change

Year-over-YearNew Pending Sales

60

54

30

-21.3%

-35.0%

-50.0%

-34.5%

-34.2%

3.1%67

50

61

76

48

-34.2%

-31.5%

-36.7%62

36.9%89

-22.2%63

-24.7%61

5.1%83April 2014

12.8%88May 2014

12.7%71February 2014

43.1%83March 2014

9.6%57November 2014

45.2%61December 2014

Month

MonthPercent Change

Year-over-YearNew Listings

-13.0%87January 2015

16.9%83February 2015

-9.5%

-29.4%

25.0%

10.2%

-28.6%

-33.3%



0

20

40

60

80

100

120

Ne

w L

isti

ngs

0

20

40

60

80

100

Pe

nd

ing

Sale

s Monthly Market Detail - February 2015

2011 2012 2013 2014


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

2011 2012 2013 2014

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




March 2014 $219,573 1.9%

February 2014 $268,827 49.6%

May 2014 $252,004 5.4%

April 2014 $227,288 -19.3%

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.

October 2014 $237,964 3.4%

September 2014 $257,076 -1.1%

August 2014 $231,015 -13.1%

July 2014 $283,710 18.8%

June 2014 $220,100 -14.3%

December 2014 $285,919 30.2%

November 2014 $237,454 19.4%

January 2015 $202,879 -1.9%

March 2014 $185,000 23.3%

February 2014 $205,000 8.5%

Average Sale PricePercent Change

Year-over-Year

February 2015 $231,082 -14.0%

Month

May 2014 $208,750 1.8%

April 2014 $203,750 -4.1%

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.

October 2014 $180,000 -5.3%

September 2014 $251,250 21.1%

August 2014 $205,500 -12.6%

July 2014 $235,000 10.6%

June 2014 $194,000 2.6%

December 2014 $225,000 4.7%

November 2014 $198,000 21.7%

January 2015 $165,000 -5.0%

Median Sale PricePercent Change

Year-over-Year

February 2015 $222,450 8.5%

Month

$140K

$190K

$240K

$290K

$340K

Ave

rage

Sal

e

Pri

ce


$120K

$170K

$220K

$270K

Me

dia

n S

ale

Pri

ce



2011 2012 2013 2014


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

2011 2012 2013 2014

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




March 2014 91.3% 4.2%

February 2014 90.7% -0.3%

May 2014 94.0% 5.0%

April 2014 92.1% 2.6%

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.

October 2014 92.5% 1.9%

September 2014 93.8% 2.2%

August 2014 91.1% -0.8%

July 2014 93.1% 4.7%

June 2014 92.3% 3.1%

December 2014 92.0% 1.4%

November 2014 89.7% -3.1%

January 2015 93.6% 2.7%

March 2014 133 -24.0%

February 2014 146 37.7%

Avg. Pct. of Orig. List

Price Received

Percent Change

Year-over-Year

February 2015 94.0% 3.6%

Month

May 2014 106 -22.6%

April 2014 117 -26.4%

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.

October 2014 100 -35.9%

September 2014 96 2.1%

August 2014 128 -11.7%

July 2014 122 -30.3%

June 2014 113 -19.9%

December 2014 111 -11.2%

November 2014 164 -2.4%

January 2015 120 14.3%

Median Days on

Market

Percent Change

Year-over-Year

February 2015 114 -21.9%

Month

65%

75%

85%

95%

105%

Avg

. Pct

. o

f O

rig.

Li

st P

rice

R

ece

ive

d


0

100

200

300

400

Me

dia

n D

ays

on

M

arke

t



2011 2012 2013 2014


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

2011 2012 2013 2014

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




March 2014 10.0 -24.7%

February 2014 10.2 -30.2%

May 2014 10.1 -17.7%

April 2014 9.9 -20.6%

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.

October 2014 9.4 -14.1%

September 2014 10.0 -4.5%

August 2014 10.0 -4.5%

July 2014 9.6 -17.6%

June 2014 9.7 -14.9%

December 2014 8.8 -10.1%

November 2014 9.1 -17.9%

January 2015 9.9 -4.1%

March 2014 441 -11.1%

February 2014 452 -13.9%

Months SupplyPercent Change

Year-over-Year

February 2015 9.2 -9.4%

Month

May 2014 459 -5.2%

April 2014 453 -5.2%

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.

October 2014 434 -8.8%

September 2014 455 -0.9%

August 2014 454 2.0%

July 2014 438 -9.7%

June 2014 453 -1.9%

December 2014 418 -3.7%

November 2014 424 -11.9%

January 2015 468 0.9%

InventoryPercent Change

Year-over-Year

February 2015 437 -3.3%

Month

300

400

500

600

700

Inve

nto

ry



2011 2012 2013 2014


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

7.0

12.0

17.0

22.0

27.0

32.0

Mo

nth

s Su

pp

ly o

f In

ven

tory

2011 2012 2013 2014

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





$100,000 - $149,999 5 -16.7%

Sale Price Closed SalesPercent Change

Year-over-Year

Less than $50,000 2 0.0%

$50,000 - $99,999 3 200.0%

$150,000 - $199,999 4 -42.9%

$200,000 - $249,999 10 233.3%

$50,000 - $99,999 114 29.5%

$100,000 - $149,999

$400,000 - $599,999 2 -33.3%

$600,000 - $999,999 1 0.0%

98 -16.2%

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 $50,000 163 120.3%

$1,000,000 or more 0 -100.0%

$250,000 - $299,999 7 133.3%

$300,000 - $399,999 3 -40.0%

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 - $199,999 101 -40.2%

$200,000 - $249,999 132 9.1%

$250,000 - $299,999

$400,000 - $599,999 183 -20.8%

103 -67.8%

$300,000 - $399,999 166 12.9%

$600,000 - $999,999 1 -99.9%

$1,000,000 or more (No Sales) N/A

0 100 200 300 400 500 600 700 800 900

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

February 2014 February 2015

0

2

4

6

8

10

12

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


0 100 200 300 400 500 600 700 800 900

0

2

4

6

8

10

12



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




Initial Listing Price New ListingsPercent Change

Year-over-Year

Less than $50,000 1 -75.0%

$50,000 - $99,999 2 -71.4%

$100,000 - $149,999 13 44.4%

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 9 12.5%

$200,000 - $249,999 14 75.0%

$250,000 - $299,999 13 30.0%

$300,000 - $399,999 13 18.2%

$400,000 - $599,999 9 0.0%

$600,000 - $999,999 5 25.0%

$1,000,000 or more 4 300.0%

Current Listing Price InventoryPercent Change

Year-over-Year

Less than $50,000 5 -16.7%

$50,000 - $99,999 35 12.9%

$100,000 - $149,999 39 -18.8%

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 70 0.0%

$200,000 - $249,999 67 6.3%

$250,000 - $299,999 42 -31.1%

$300,000 - $399,999 72 1.4%

$400,000 - $599,999 55 -3.5%

$600,000 - $999,999 39 2.6%

$1,000,000 or more 13 85.7%

0 10 20 30 40 50 60 70 80

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


0 2 4 6 8

10 12 14 16

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


0 10 20 30 40 50 60 70 80

0 2 4 6 8 10 12 14 16



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

A

M

J

J

A

S

O

N

D

J

F

M

A

M

J

J



February 2015 February 2014Percent Change

Year-over-Year

Traditional

33 29 13.8%

$225,000 $206,000 9.2%

Foreclosure/REO

4 1 300.0%

$132,400 $222,000 -40.4%

Short Sale

0 2 -100.0%

(No Sales) $91,750 N/A

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

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

2011 2012 2013 2014



Monthly Distressed Market - February 2015


2011 2012 2013 2014

Documents

Monthly Market Detail - February 2015 Townhouses …...2015/02/03 · February 2015 67.6% 3.0% January 2015 58.1% -1.3% February 2014 21 -16.0% Month Percent of Closed Sales Paid