keystone - Real Market Reports
REAL ESTATE MARKET REPORT
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Sunday, June 4
2017
TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Market Summary Table ……………………………………………….. Glossary ………………………………………………………………...
The Smits Team Amy Smits 507 Main Street Frisco, Colorado 80443 www.resorthomevalue.com www.vailsummithomesearch.com [email protected] [email protected] 970-368-7533 970-418-0183
www.facebook.com/365Summit Century 21, The Smits Team
Real Market Reports www.RealMarketReports.com
Pages 1-2 Page 3 Page 4
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Let's take a look
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
at the real estate market. Currently there are 58 sales pending in the market overall, leaving 82 listings still for sale. The resulting pending ratio is 41.4% (58 divided by 140). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
"Current inventory is described as active."
Taking a closer look, we notice that the $200K - $400K price range has a relatively large number of contracts pending sale. We also notice that the $800K $1,000K price range has a relatively large inventory of properties for sale at 21 listings. The median list price (or asking price) for all properties in this market is $797,000.
Number of Listings For Sale vs. Pending Contract
Properties For Sale Contracts Pending
Keystone
25
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
20 15 10 5
Num Sold vs. Off-Market (Last 6 mos.)
Sold Off-Market
Keystone
50
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
45 40
$2.8M
$2.6M
$2.4M
$2.2M
$2.0M
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
A total of 136 contracts have closed in the last 6 months with a median sold price of $457,000. Breaking it down, we notice that the $200K - $400K price range contains the highest number of sold listings.
35 30 25 20 15 10 5
Real Market Reports www.RealMarketReports.com
1
$2.8M
$2.6M
$2.4M
$2.2M
$2.0M
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
Alternatively, a total of 17 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $400K - $600K price range has a high number of off-market listings at 3 properties.
Market Dashboard
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 92 days.
Median Days on Market (DOM)
Sold For Sale
Keystone
1600
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
1400 1200 1000 800 600
Analysis of sold properties for the last six months reveals a median sold price of $457,000 and 18 days on market. Notice that properties in the $200K - $400K price range have sold quickest over the last six months.
400 200
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $470,700 with a DOM of 21 days.
"The median list-to-sales ratio for this area is 98.5%."
Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.
Median Sold Prices Keystone $500K
50
$400K
40
$300K
30
$200K
20
Jan
10
Copyright © The Smits Team Updated 6/4/2017, RealMarketReports.com
Feb
Mar
Real Market Reports www.RealMarketReports.com
Apr
$2.8M
$2.6M
$2.4M
$2.2M
Keystone 60
$0K
$2.0M
Analysis of the absorption rate indicates an inventory of 3.6 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.
Median Days on Market (Sold)
$600K
$100K
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
May
Copyright © The Smits Team Updated 6/4/2017, RealMarketReports.com
0
Jun
2
Jan
Feb
Mar
Apr
May
Jun
Market Dashboard
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
58
MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available
Price Range
82
Low
High
Num #
$0
$199,999
2
$200,000
$399,999
16
$400,000
$599,999
10
$600,000
$799,999
15
$800,000
$999,999
21
$1,000,000
$1,199,999
3
$1,200,000
$1,399,999
3
$1,400,000
$1,599,999
3
$1,600,000
$1,799,999
1
$1,800,000
$1,999,999
3
$2,000,000
$2,199,999
2
$2,200,000
$2,399,999
0
$2,400,000
$2,599,999
1
$2,600,000
$2,799,999
0
$2,800,000
+
2
Market Totals
82
17
PENDING [2]
136
ACTIVE [1]
Days on Market
Current List Price
A
118
$ 179,500
M
118
$ 179,500
A
34
$ 304,306
M
14
$ 318,950
A
54
$ 506,490
M
26
$ 506,450
A
89
$ 746,583
M
118
$ 785,000
A
122
$ 874,376
M
121
$ 850,000
A
177
$ 1,183,333
M
67
$ 1,195,000
A
258
$ 1,336,633
M
359
$ 1,375,000
A
1055
$ 1,471,667
M
74
$ 1,495,000
A
1411
$ 1,699,000
M
1411
$ 1,699,000
A
103
$ 1,911,742
M
109
$ 1,895,225
A
203
$ 2,000,000
M
203
$ 2,000,000
A
13
$ 2,485,000
M
13
$ 2,485,000
A
231
$ 3,295,000
M
231
$ 3,295,000
OFF-MARKET (last 6 mos) [3]
Num #
Pend Ratio
Num #
Num #
1
33%
2
9
16
50%
2
46
10
50%
3
38
15
50%
3
13
16
43%
2
16
0
2
8
0
0
2
0
0
0
0
0
1
0
0
0
0
1
2
0
1
1
0
0
0
0
0
0
0
1
0
17
136
58
41%
ABSORPTION RATE (months of inventory)
SOLD/CLOSED (last 6 months) [4]
Days on Market
Original List Price
Final List Price
Sold/ Closed Price
ListSale Ratio
A
58
$ 175,878
$ 173,633
$ 167,589
97%
M
48
$ 179,900
$ 179,900
$ 177,000
98%
A
21
$ 323,843
$ 325,293
$ 319,124
98%
M
13
$ 332,400
$ 332,400
$ 327,000
98%
A
28
$ 495,400
$ 491,371
$ 482,271
98%
M
14
$ 479,450
$ 479,450
$ 473,750
99%
A
120
$ 740,654
$ 728,100
$ 715,108
98%
M
61
$ 739,000
$ 735,000
$ 707,500
96% 99%
A
57
$ 911,331
$ 914,456
$ 906,644
M
53
$ 919,950
$ 919,450
$ 919,450 100%
A
153
$ 1,152,863
$ 1,124,113
$ 1,085,188
97%
M
45
$ 1,125,000
$ 1,099,500
$ 1,060,000
96%
A
38
$ 1,345,000
$ 1,345,000
$ 1,267,500
94%
M
38
$ 1,345,000
$ 1,345,000
$ 1,267,500
94%
A
204
$ 1,899,000
$ 1,749,000
$ 1,640,000
94%
M
204
$ 1,899,000
$ 1,749,000
$ 1,640,000
94%
A
314
$ 2,370,000
$ 2,370,000
$ 2,150,000
91%
M
314
$ 2,370,000
$ 2,370,000
$ 2,150,000
91%
A
423
$ 3,399,000
$ 2,499,000
$ 2,312,500
93%
M
423
$ 3,399,000
$ 2,499,000
$ 2,312,500
93%
1.3 2.1 1.6 6.9 7.9 2.3 9
6
6 N/A
3.6
Market Averages
150
$ 882,166
56
$ 599,012
$ 587,984
$ 571,956 97%
Market Medians
92
$ 797,000
18
$ 463,950
$ 463,950
$ 457,000 99%
Date Range (Off-Market & Sold) = 12/04/2016 to 06/04/2017 Data believed to be accurate but not guaranteed.
Est. Mos.
Favors Sellers
Favors Buyers
Status = [1] Active; [2] Pending; [3] Withdrawn, Expired; [4] Sold Area = Keystone PropertySubType = Single Family, Condo, Townhouse, Duplex
Real Market Reports www.RealMarketReports.com
3
Market Summary Table
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio =
P (Number of Pending Listings) A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f.
List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio =
Sold Price Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.
Real Market Reports www.RealMarketReports.com
4
Glossary
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Sunday, June 4
2017
TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Market Summary Table ……………………………………………….. Glossary ………………………………………………………………...
The Smits Team Amy Smits 507 Main Street Frisco, Colorado 80443 www.resorthomevalue.com www.vailsummithomesearch.com [email protected] [email protected] 970-368-7533 970-418-0183
www.facebook.com/365Summit Century 21, The Smits Team
Real Market Reports www.RealMarketReports.com
Pages 1-2 Page 3 Page 4
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Let's take a look
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
at the real estate market. Currently there are 58 sales pending in the market overall, leaving 82 listings still for sale. The resulting pending ratio is 41.4% (58 divided by 140). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
"Current inventory is described as active."
Taking a closer look, we notice that the $200K - $400K price range has a relatively large number of contracts pending sale. We also notice that the $800K $1,000K price range has a relatively large inventory of properties for sale at 21 listings. The median list price (or asking price) for all properties in this market is $797,000.
Number of Listings For Sale vs. Pending Contract
Properties For Sale Contracts Pending
Keystone
25
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
20 15 10 5
Num Sold vs. Off-Market (Last 6 mos.)
Sold Off-Market
Keystone
50
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
45 40
$2.8M
$2.6M
$2.4M
$2.2M
$2.0M
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
A total of 136 contracts have closed in the last 6 months with a median sold price of $457,000. Breaking it down, we notice that the $200K - $400K price range contains the highest number of sold listings.
35 30 25 20 15 10 5
Real Market Reports www.RealMarketReports.com
1
$2.8M
$2.6M
$2.4M
$2.2M
$2.0M
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
Alternatively, a total of 17 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $400K - $600K price range has a high number of off-market listings at 3 properties.
Market Dashboard
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 92 days.
Median Days on Market (DOM)
Sold For Sale
Keystone
1600
Updated 6/4/2017, RealMarketReports.com Copyright © The Smits Team
1400 1200 1000 800 600
Analysis of sold properties for the last six months reveals a median sold price of $457,000 and 18 days on market. Notice that properties in the $200K - $400K price range have sold quickest over the last six months.
400 200
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $470,700 with a DOM of 21 days.
"The median list-to-sales ratio for this area is 98.5%."
Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.
Median Sold Prices Keystone $500K
50
$400K
40
$300K
30
$200K
20
Jan
10
Copyright © The Smits Team Updated 6/4/2017, RealMarketReports.com
Feb
Mar
Real Market Reports www.RealMarketReports.com
Apr
$2.8M
$2.6M
$2.4M
$2.2M
Keystone 60
$0K
$2.0M
Analysis of the absorption rate indicates an inventory of 3.6 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.
Median Days on Market (Sold)
$600K
$100K
$1.8M
$1.6M
$1.4M
$1.2M
$1.0M
$800K
$600K
$400K
$200K
$0K
0
May
Copyright © The Smits Team Updated 6/4/2017, RealMarketReports.com
0
Jun
2
Jan
Feb
Mar
Apr
May
Jun
Market Dashboard
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
58
MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available
Price Range
82
Low
High
Num #
$0
$199,999
2
$200,000
$399,999
16
$400,000
$599,999
10
$600,000
$799,999
15
$800,000
$999,999
21
$1,000,000
$1,199,999
3
$1,200,000
$1,399,999
3
$1,400,000
$1,599,999
3
$1,600,000
$1,799,999
1
$1,800,000
$1,999,999
3
$2,000,000
$2,199,999
2
$2,200,000
$2,399,999
0
$2,400,000
$2,599,999
1
$2,600,000
$2,799,999
0
$2,800,000
+
2
Market Totals
82
17
PENDING [2]
136
ACTIVE [1]
Days on Market
Current List Price
A
118
$ 179,500
M
118
$ 179,500
A
34
$ 304,306
M
14
$ 318,950
A
54
$ 506,490
M
26
$ 506,450
A
89
$ 746,583
M
118
$ 785,000
A
122
$ 874,376
M
121
$ 850,000
A
177
$ 1,183,333
M
67
$ 1,195,000
A
258
$ 1,336,633
M
359
$ 1,375,000
A
1055
$ 1,471,667
M
74
$ 1,495,000
A
1411
$ 1,699,000
M
1411
$ 1,699,000
A
103
$ 1,911,742
M
109
$ 1,895,225
A
203
$ 2,000,000
M
203
$ 2,000,000
A
13
$ 2,485,000
M
13
$ 2,485,000
A
231
$ 3,295,000
M
231
$ 3,295,000
OFF-MARKET (last 6 mos) [3]
Num #
Pend Ratio
Num #
Num #
1
33%
2
9
16
50%
2
46
10
50%
3
38
15
50%
3
13
16
43%
2
16
0
2
8
0
0
2
0
0
0
0
0
1
0
0
0
0
1
2
0
1
1
0
0
0
0
0
0
0
1
0
17
136
58
41%
ABSORPTION RATE (months of inventory)
SOLD/CLOSED (last 6 months) [4]
Days on Market
Original List Price
Final List Price
Sold/ Closed Price
ListSale Ratio
A
58
$ 175,878
$ 173,633
$ 167,589
97%
M
48
$ 179,900
$ 179,900
$ 177,000
98%
A
21
$ 323,843
$ 325,293
$ 319,124
98%
M
13
$ 332,400
$ 332,400
$ 327,000
98%
A
28
$ 495,400
$ 491,371
$ 482,271
98%
M
14
$ 479,450
$ 479,450
$ 473,750
99%
A
120
$ 740,654
$ 728,100
$ 715,108
98%
M
61
$ 739,000
$ 735,000
$ 707,500
96% 99%
A
57
$ 911,331
$ 914,456
$ 906,644
M
53
$ 919,950
$ 919,450
$ 919,450 100%
A
153
$ 1,152,863
$ 1,124,113
$ 1,085,188
97%
M
45
$ 1,125,000
$ 1,099,500
$ 1,060,000
96%
A
38
$ 1,345,000
$ 1,345,000
$ 1,267,500
94%
M
38
$ 1,345,000
$ 1,345,000
$ 1,267,500
94%
A
204
$ 1,899,000
$ 1,749,000
$ 1,640,000
94%
M
204
$ 1,899,000
$ 1,749,000
$ 1,640,000
94%
A
314
$ 2,370,000
$ 2,370,000
$ 2,150,000
91%
M
314
$ 2,370,000
$ 2,370,000
$ 2,150,000
91%
A
423
$ 3,399,000
$ 2,499,000
$ 2,312,500
93%
M
423
$ 3,399,000
$ 2,499,000
$ 2,312,500
93%
1.3 2.1 1.6 6.9 7.9 2.3 9
6
6 N/A
3.6
Market Averages
150
$ 882,166
56
$ 599,012
$ 587,984
$ 571,956 97%
Market Medians
92
$ 797,000
18
$ 463,950
$ 463,950
$ 457,000 99%
Date Range (Off-Market & Sold) = 12/04/2016 to 06/04/2017 Data believed to be accurate but not guaranteed.
Est. Mos.
Favors Sellers
Favors Buyers
Status = [1] Active; [2] Pending; [3] Withdrawn, Expired; [4] Sold Area = Keystone PropertySubType = Single Family, Condo, Townhouse, Duplex
Real Market Reports www.RealMarketReports.com
3
Market Summary Table
REAL ESTATE MARKET REPORT
KEYSTONE Sunday, June 4, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio =
P (Number of Pending Listings) A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f.
List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio =
Sold Price Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.
Real Market Reports www.RealMarketReports.com
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Glossary
