Monthly Market Detail - July 2015 Single Family Homes Palm …Treu/Palm_Beach_C… · July 2015 Average Sale Price Median Days on Market 93.9% 3,538 Average Percent of Original List

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 Thursday, August 20, 2015. Next data release is Monday, September 21, 2015.

0.6%

3,336 6.1%

Percent Change

Year-over-Year

19.5%

7,246 -6.7%

Closed Sales

1,810

93.3%

5.7 -21.6%

July 2015

Average Sale Price

Median Days on Market

93.9%

3,538

Average Percent of Original List

Price Received

Pending Inventory

Inventory (Active Listings)

Month

6,761

Months Supply of Inventory 4.5

Summary Statistics

Closed Sales

Paid in Cash

$417,709

July 2015

1,847New Pending Sales

New Listings

Median Sale Price

July 2014Percent Change

Year-over-Year

643 632 1.7%

1,810 1,515 19.5%

1,940 -4.8%

$289,250 $280,000 3.3%

2,429 2,261 7.4%

$461,022 -9.4%

38 55 -30.9%

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.

March 2015 1,687

February 2015 1,231

January 2015 1,037

August 2014 1,500

July 2014 1,515

December 2014 1,441

November 2014 1,104

15.0%

October 2014 1,487

September 2014 1,355

19.3%

23.5%

16.3%

37.7%

33.7%

20.4%

9.4%

14.6%

June 2015 1,901 16.2%

6.0%

17.9%

May 2015 1,739

April 2015 1,743

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 M A M J J

Monthly Market Detail - July 2015

Palm Beach County Single Family Homes

600

1,100

1,600

2,100

Clo

sed

Sal

es

2011 2012 2013 2014 2015

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



Month Cash SalesPercent Change

Year-over-Year

July 2015 643 1.7%

June 2015 780 3.9%

May 2015 707 -6.7%

April 2015 728 -0.3%

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.

March 2015 791 32.9%

February 2015 564 25.9%

January 2015 479 -0.2%

December 2014 645 9.9%

November 2014 519 12.6%

October 2014 615 3.7%

September 2014 587 19.8%

August 2014 662 14.1%

July 2014 632 1.8%

MonthPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

July 2015 35.5% -14.8%

June 2015 41.0% -10.6%

May 2015 40.7% -12.0%

April 2015 41.8% -15.4%

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.

March 2015 46.9% -3.5%

February 2015 45.8% -5.8%

January 2015 46.2% -12.9%

December 2014 44.8% -8.7%

November 2014 47.0% 2.9%

October 2014 41.4% -13.1%

September 2014 43.3% -3.0%

August 2014 44.1% -1.8%

July 2014 41.7% -11.5%

25%

35%

45%

55%

65%

Pct

. of

Clo

sed

Sa

les

Pai

d in

Cas

h


200

400

600

800

1,000

Cas

h S

ale

s



2011 2012 2013 2014 2015


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

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



Month

MonthPercent Change

Year-over-YearNew Listings

0.6%2,433June 2015

7.4%2,429July 2015

13.4%

18.4%

-4.8%

-3.6%

-6.7%

-4.1%

1.6%2,504April 2015

-5.3%2,324May 2015

11.4%2,261July 2014

7.9%2,329August 2014

19.1%2,384September 2014

15.2%2,492October 2014

9.8%2,078

1,906

1,920

1,967

1,940

12.9%

30.9%

12.7%1,929

13.0%2,777

17.2%2,465

15.4%2,704

9.9%

29.8%

26.3%

15.9%

30.3%

2,212

Percent Change

Year-over-YearNew Pending Sales

1,847

1,980

2,023

2,277

2,048

1,889

1,451

1,749

July 2015

June 2015

May 2015

April 2015

March 2015Economists' 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.

September 2014

August 2014

July 2014

February 2015

January 2015

December 2014

November 2014

October 2014

November 2014

December 2014

January 2015

February 2015

March 2015



1,200

1,700

2,200

2,700

3,200

Ne

w L

isti

ngs

700

1,200

1,700

2,200

2,700

Pe

nd

ing

Sale

s Monthly Market Detail - July 2015

2011 2012 2013 2014 2015


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

2011 2012 2013 2014 2015

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



June 2015 $305,000 3.4%

Median Sale PricePercent Change

Year-over-Year

July 2015 $289,250 3.3%

Month

May 2015 $295,400 4.8%

April 2015 $300,000 10.1%

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.

March 2015 $279,000 -2.8%

February 2015 $270,000 -8.8%

January 2015 $273,750 -0.5%

December 2014 $275,000 -1.8%

November 2014 $265,012 -0.2%

October 2014 $275,000 2.2%

September 2014 $269,200 -2.1%

June 2015 $527,754 -8.8%

August 2014 $270,000 -1.8%

July 2014 $280,000 3.7%

Average Sale PricePercent Change

Year-over-Year

July 2015 $417,709 -9.4%

Month

May 2015 $462,860 -15.0%

April 2015 $534,705 19.4%

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.

March 2015 $422,229 -17.2%

February 2015 $474,764 -14.9%

January 2015 $558,603 24.2%

December 2014 $518,299 17.8%

November 2014 $425,709 3.2%

October 2014 $407,605 2.7%

September 2014 $406,026 3.8%

August 2014 $412,515 -3.2%

July 2014 $461,022 5.5%

$290K

$390K

$490K

$590K

$690K

Ave

rage

Sal

e

Pri

ce


$160K

$210K

$260K

$310K

$360K

Me

dia

n S

ale

Pri

ce



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)

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)



June 2015 40 -24.5%

Median Days on

Market

Percent Change

Year-over-Year

July 2015 38 -30.9%

Month

May 2015 42 -25.0%

April 2015 46 -9.8%

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.

March 2015 45 -18.2%

February 2015 53 -10.2%

January 2015 52 -5.5%

December 2014 56 21.7%

November 2014 62 34.8%

October 2014 55 10.0%

September 2014 54 14.9%

June 2015 93.5% 0.2%

August 2014 55 10.0%

July 2014 55 3.8%

Avg. Pct. of Orig. List

Price Received

Percent Change

Year-over-Year

July 2015 93.9% 0.6%

Month

May 2015 93.5% 0.9%

April 2015 93.1% -0.4%

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.

March 2015 92.8% 0.0%

February 2015 93.1% -0.6%

January 2015 92.9% -0.7%

December 2014 92.8% -1.6%

November 2014 93.0% -1.3%

October 2014 94.0% -0.4%

September 2014 93.0% -1.6%

August 2014 93.2% -1.1%

July 2014 93.3% -0.6%

75%

80%

85%

90%

95%

100%

Avg

. Pct

. o

f O

rig.

Li

st P

rice

R

ece

ive

d


0

20

40

60

80

100

120

Me

dia

n D

ays

on

M

arke

t



2011 2012 2013 2014 2015


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

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



June 2015 6,726 -7.4%

InventoryPercent Change

Year-over-Year

July 2015 6,761 -6.7%

Month

May 2015 6,857 -6.0%

April 2015 7,303 -0.3%

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.

March 2015 7,636 7.7%

February 2015 7,796 11.4%

January 2015 7,828 18.7%

December 2014 7,491 19.0%

November 2014 7,591 19.7%

October 2014 7,543 23.4%

September 2014 7,316 23.1%

June 2015 4.5 -21.9%

August 2014 7,187 28.5%

July 2014 7,246 32.8%

Months SupplyPercent Change

Year-over-Year

July 2015 4.5 -21.6%

Month

May 2015 4.7 -21.1%

April 2015 5.0 -16.8%

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.

March 2015 5.4 -9.2%

February 2015 5.6 -3.2%

January 2015 5.7 5.8%

December 2014 5.5 7.4%

November 2014 5.7 9.5%

October 2014 5.7 14.3%

September 2014 5.6 15.0%

August 2014 5.6 21.5%

July 2014 5.7 26.9%

5,200

7,200

9,200

11,200

13,200

15,200

Inve

nto

ry



2011 2012 2013 2014 2015


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

3.0

8.0

13.0

18.0

Mo

nth

s Su

pp

ly o

f In

ven

tory

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 91 -18.0%

$1,000,000 or more 95 -32.6%

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 25 -44.4%

$200,000 - $249,999 25 -34.2%

$250,000 - $299,999

$400,000 - $599,999 52 -18.8%

32 -34.7%

$300,000 - $399,999 33 -41.1%

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 37 -42.2%

$1,000,000 or more 94 8.0%

$250,000 - $299,999 257 22.4%

$300,000 - $399,999 354 32.6%

$50,000 - $99,999 49 11.4%

$100,000 - $149,999

$400,000 - $599,999 288 29.1%

$600,000 - $999,999 119 21.4%

25 -43.2%

$150,000 - $199,999 202 21.7%

$200,000 - $249,999 230 38.6%

$100,000 - $149,999 148 -5.1%

Sale Price Closed SalesPercent Change

Year-over-Year

Less than $50,000 19 -36.7%

$50,000 - $99,999 99 -11.6%

0 50

100 150 200 250 300 350 400

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

July 2014 July 2015

0 50 100 150 200 250 300 350 400

0 20 40 60 80

100 120 140 160

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

July 2014 July 2015

0 20 40 60 80 100 120 140 160



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 - $999,999 943 -3.5%

$1,000,000 or more 1,339 -2.0%

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 - $199,999 387 -15.1%

$200,000 - $249,999 465 -8.5%

$250,000 - $299,999 622 -10.5%

$300,000 - $399,999 1,161 2.3%

$400,000 - $599,999 1,177 -8.8%

$50,000 - $99,999 292 -9.9%

$100,000 - $149,999 339 -21.7%

Current Listing Price InventoryPercent Change

Year-over-Year

Less than $50,000 36 -41.0%

$600,000 - $999,999 243 33.5%

$1,000,000 or more 142 -5.3%

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 - $199,999 207 -14.8%

$200,000 - $249,999 249 3.8%

$250,000 - $299,999 320 6.0%

$300,000 - $399,999 515 25.6%

$400,000 - $599,999 429 18.8%

$50,000 - $99,999 119 -20.1%

$100,000 - $149,999 183 -6.6%

Initial Listing Price New ListingsPercent Change

Year-over-Year

Less than $50,000 22 -21.4%

0

100

200

300

400

500

600

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

July 2014 July 2015

0 200 400 600 800

1,000 1,200 1,400 1,600

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

July 2014 July 2015

0 200 400 600 800 1,000 1,200 1,400 1,600

0

100

200

300

400

500

600



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



Short Sale

50 83 -39.8%

$209,900 $200,000 5.0%

Foreclosure/REO

264 263 0.4%

$221,983 $162,850 36.3%

July 2015 July 2014Percent Change

Year-over-Year

Traditional

1,496 1,169 28.0%

$310,000 $310,000 0.0%

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

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 2015



Monthly Distressed Market - July 2015


2011 2012 2013 2014 2015

Documents

Monthly Market Detail - July 2015 Single Family Homes Palm …Treu/Palm_Beach_C… · July 2015 Average Sale Price Median Days on Market 93.9% 3,538 Average Percent of Original List