Monthly Market Detail - June 2013 Manufactured Homes Miami ... · Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses—particularlywhen

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, July 22, 2013. Next data release is Wednesday, August 21, 2013.

-6.2%

(No Data) N/A

Percent Change

Year-over-Year

35.7%

288 -8.0%

Closed Sales

19

89.6%

14.2 -6.8%

June 2013

Average Sale Price

Median Days on Market

84.0%

55

Average Percent of Original List

Price Received

Pending Inventory

Inventory (Active Listings)

Month

265

Months Supply of Inventory 13.2

Summary Statistics

Closed Sales

Paid in Cash

$47,332

June 2013

19New Pending Sales

New Listings

Median Sale Price

June 2012Percent Change

Year-over-Year

18 13 38.5%

19 14 35.7%

11 72.7%

$40,000 $41,800 -4.3%

34 33 3.0%

$48,561 -2.5%

77 96 -19.8%

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.

February 2013 17

January 2013 22

December 2012 28

July 2012 12

June 2012 14

November 2012 17

October 2012 19

0.0%

September 2012 9

August 2012 20

-52.6%

17.6%

-14.3%

6.3%

-12.0%

21.4%

11.8%

-9.7%

May 2013 19 18.8%

37.5%

-29.7%

April 2013 33

March 2013 26

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

Monthly Market Detail - June 2013

Miami-Fort Lauderdale-Pompano Beach MSA Manufactured Homes

0

10

20

30

40

Clo

sed

Sal

es

2009 2010 2011 2012

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



Month Cash SalesPercent Change

Year-over-Year

June 2013 18 38.5%

May 2013 19 18.8%

April 2013 31 34.8%

March 2013 25 -28.6%

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.

February 2013 15 -6.3%

January 2013 22 -8.3%

December 2012 27 -3.6%

November 2012 16 33.3%

October 2012 18 38.5%

September 2012 9 -43.8%

August 2012 19 11.8%

July 2012 11 -15.4%

June 2012 13 -7.1%

MonthPercent of Closed

Sales Paid in Cash

Percent Change

Year-over-Year

June 2013 94.7% 2.0%

May 2013 100.0% 0.0%

April 2013 93.9% -2.0%

March 2013 96.2% 1.6%

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.

February 2013 88.2% -11.8%

January 2013 100.0% 4.2%

December 2012 96.4% 6.8%

November 2012 94.1% 9.8%

October 2012 94.7% 23.9%

September 2012 100.0% 18.8%

August 2012 95.0% -5.0%

July 2012 91.7% -1.3%

June 2012 92.9% -7.1%

58%

68%

78%

88%

98%

108%

Pct

. of

Clo

sed

Sa

les

Pai

d in

Cas

h


0

10

20

30

40

Cas

h S

ale

s



2009 2010 2011 2012


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

2009 2010 2011 2012

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

6.8%47May 2013

3.0%34June 2013

63.6%

-45.0%

72.7%

87.5%

4.0%

37.9%

-14.8%46March 2013

2.1%48April 2013

-2.9%33June 2012

16.7%42July 2012

21.2%40August 2012

3.1%33September 2012

13.5%59

19

18

18

11

11.8%

0.0%

5.6%57

20.7%35

5.3%60

1.7%60

16.7%

47.6%

-6.3%

3.3%

285.7%

40

Percent Change

Year-over-YearNew Pending Sales

19

30

26

28

31

30

31

27

June 2013

May 2013

April 2013

March 2013

February 2013Economists' 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.

August 2012

July 2012

June 2012

January 2013

December 2012

November 2012

October 2012

September 2012

October 2012

November 2012

December 2012

January 2013

February 2013



0

20

40

60

80

Ne

w L

isti

ngs

0

10

20

30

40

50

Pe

nd

ing

Sale

s


2009 2010 2011 2012


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

2009 2010 2011 2012

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



May 2013 $47,500 -18.1%

Median Sale PricePercent Change

Year-over-Year

June 2013 $40,000 -4.3%

Month

April 2013 $60,000 4.3%

March 2013 $46,955 -9.7%

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.

February 2013 $57,000 27.9%

January 2013 $39,950 -24.6%

December 2012 $53,500 18.5%

November 2012 $47,000 4.4%

October 2012 $45,000 -33.8%

September 2012 $35,000 -16.2%

August 2012 $42,300 9.9%

May 2013 $81,182 28.6%

July 2012 $41,750 -16.5%

June 2012 $41,800 7.9%

Average Sale PricePercent Change

Year-over-Year

June 2013 $47,332 -2.5%

Month

April 2013 $63,276 -9.4%

March 2013 $57,812 9.0%

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.

February 2013 $56,935 10.6%

January 2013 $51,480 -7.2%

December 2012 $63,758 8.6%

November 2012 $64,502 16.2%

October 2012 $48,368 -30.7%

September 2012 $52,389 12.9%

August 2012 $54,463 -0.6%

July 2012 $44,773 -7.5%

June 2012 $48,561 -9.3%

$20K

$40K

$60K

$80K

$100K

Ave

rage

Sal

e

Pri

ce


$10K

$30K

$50K

$70K

$90K

Me

dia

n S

ale

Pri

ce



2009 2010 2011 2012


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

2009 2010 2011 2012

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



May 2013 57 29.5%

Median Days on

Market

Percent Change

Year-over-Year

June 2013 77 -19.8%

Month

April 2013 71 -23.7%

March 2013 41 -42.3%

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.

February 2013 192 123.3%

January 2013 103 56.1%

December 2012 115 134.7%

November 2012 111 -11.2%

October 2012 95 -33.6%

September 2012 39 -72.9%

August 2012 87 -3.3%

May 2013 88.3% -3.0%

July 2012 73 -31.1%

June 2012 96 77.8%

Avg. Pct. of Orig. List

Price Received

Percent Change

Year-over-Year

June 2013 84.0% -6.2%

Month

April 2013 83.2% 2.3%

March 2013 89.3% 2.3%

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.

February 2013 78.0% -7.5%

January 2013 82.1% -0.4%

December 2012 86.9% 1.6%

November 2012 83.7% -10.4%

October 2012 82.6% 1.1%

September 2012 85.3% -3.1%

August 2012 85.7% 6.7%

July 2012 82.8% -4.5%

June 2012 89.6% -0.1%

55%

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



2009 2010 2011 2012


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

2009 2010 2011 2012

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



May 2013 265 -9.9%

InventoryPercent Change

Year-over-Year

June 2013 265 -8.0%

Month

April 2013 266 -11.3%

March 2013 265 -14.2%

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.

February 2013 288 -9.7%

January 2013 277 -8.9%

December 2012 274 -5.2%

November 2012 287 -7.7%

October 2012 284 -11.3%

September 2012 290 -1.4%

August 2012 297 0.3%

May 2013 13.5 -6.8%

July 2012 291 -2.0%

June 2012 288 -1.7%

Months SupplyPercent Change

Year-over-Year

June 2013 13.2 -6.8%

Month

April 2013 13.7 -4.5%

March 2013 14.2 -0.1%

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.

February 2013 14.7 -2.0%

January 2013 14.2 2.8%

December 2012 13.9 1.2%

November 2012 14.4 -7.3%

October 2012 14.4 -9.8%

September 2012 14.8 0.7%

August 2012 14.5 -3.3%

July 2012 14.4 -8.9%

June 2012 14.2 -7.7%

100

150

200

250

300

350

400

Inve

nto

ry



2009 2010 2011 2012


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

12.0

14.0

16.0

18.0

20.0

22.0

24.0

Mo

nth

s Su

pp

ly o

f In

ven

tory

2009 2010 2011 2012

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 (No Sales) N/A

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

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 (No Sales) N/A

$200,000 - $249,999 (No Sales) N/A

$250,000 - $299,999

$400,000 - $599,999 (No Sales) N/A

(No Sales) N/A

$300,000 - $399,999 (No Sales) N/A

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 77 -31.9%

$1,000,000 or more 0 N/A

$250,000 - $299,999 0 N/A

$300,000 - $399,999 0 N/A

$50,000 - $99,999 75 36.4%

$100,000 - $149,999

$400,000 - $599,999 0 N/A

$600,000 - $999,999 0 N/A

(No Sales) N/A

$150,000 - $199,999 0 N/A

$200,000 - $249,999 0 N/A

$100,000 - $149,999 0 -100.0%

Sale Price Closed SalesPercent Change

Year-over-Year

Less than $50,000 11 22.2%

$50,000 - $99,999 8 100.0%

0 10 20 30 40 50 60 70 80 90

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

0 10 20 30 40 50 60 70 80 90

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

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



$600,000 - $999,999 0 -100.0%

$1,000,000 or more 1 N/A

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 16 6.7%

$200,000 - $249,999 4 100.0%

$250,000 - $299,999 2 N/A

$300,000 - $399,999 1 N/A

$400,000 - $599,999 0 N/A

$50,000 - $99,999 120 -2.4%

$100,000 - $149,999 47 -19.0%

Current Listing Price InventoryPercent Change

Year-over-Year

Less than $50,000 74 -16.9%

$600,000 - $999,999 0 N/A

$1,000,000 or more 0 N/A

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 3 N/A

$200,000 - $249,999 0 N/A

$250,000 - $299,999 0 N/A

$300,000 - $399,999 0 N/A

$400,000 - $599,999 0 N/A

$50,000 - $99,999 14 7.7%

$100,000 - $149,999 3 -25.0%

Initial Listing Price New ListingsPercent Change

Year-over-Year

Less than $50,000 14 -12.5%

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 2 4 6 8 10 12 14 16

0

20

40

60

80

100

120

140

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

20

40

60

80

100

120

140



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

1 3 -66.7%

$30,000 $42,100 -28.7%

Foreclosure/REO

6 2 200.0%

$50,500 $31,375 61.0%

June 2013 June 2012Percent Change

Year-over-Year

Traditional

12 9 33.3%

$38,750 $41,500 -6.6%

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

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

2009 2010 2011 2012





2009 2010 2011 2012

Documents

Monthly Market Detail - June 2013 Manufactured Homes Miami ... · Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses—particularlywhen