Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. December 2015
December 2014
Percent Change Year-over-Year
118
114
3.5%
Paid in Cash
43
50
-14.0%
New Pending Sales
79
65
21.5%
New Listings
103
103
0.0%
Median Sale Price
$212,500
$181,000
17.4%
Average Sale Price
$294,360
$228,045
29.1%
105
110
-4.5%
90.5%
90.5%
0.0%
Pending Inventory
127
132
-3.8%
Inventory (Active Listings)
638
681
-6.3%
Months Supply of Inventory
6.4
7.5
-14.4%
Closed Sales
Percent Change Year-over-Year
118 91 70 82 94 121 108 128 99 135 79 69 114
3.5% 33.8% -25.5% -9.9% 13.3% 13.1% 3.8% 11.3% 22.2% 42.1% 17.9% -4.2% 83.9%
Summary Statistics Closed Sales
Median Days on Market Average Percent of Original List Price Received
Month
Closed Sales The number of sales transactions which closed during the month 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.
Closed Sales
150
2011
2012
2013
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
2015
100 50 0 J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Month
Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash 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.
Cash Sales
80
2011
2012
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
2013
Cash Sales
Percent Change Year-over-Year
43 44 27 34 39 48 47 55 44 63 36 32 50
-14.0% 76.0% -32.5% -12.8% 34.5% -7.7% 14.6% -9.8% 10.0% 43.2% 0.0% -3.0% 85.2%
2014
2015
60 40 20 0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales
Pct. of Closed Sales Paid in Cash
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.
81%
2011
2012
2013
Month December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
Percent of Closed Sales Paid in Cash
Percent Change Year-over-Year
36.4% 48.4% 38.6% 41.5% 41.5% 39.7% 43.5% 43.0% 44.4% 46.7% 45.6% 46.4% 43.9%
-16.9% 31.5% -9.4% -3.3% 18.7% -18.4% 10.4% -19.0% -10.0% 0.8% -15.2% 1.2% 0.7% 2015
71% 61% 51% 41% 31% 21% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Month
New Pending Sales The number of property listings that went from "Active" to "Pending" status during the month 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.
Pending Sales
250
2011
2012
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
2013
New Pending Sales
Percent Change Year-over-Year
79 107 114 85 91 105 121 112 126 138 123 104 65
21.5% 5.9% 25.3% -10.5% -13.3% 1.9% 14.2% -3.4% 20.0% 23.2% 41.4% 13.0% -25.3%
2014
2015
200 150 100 50 0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
Month
New Listings The number of properties put onto the market during the month 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.
New Listings
250
2011
2012
2013
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
New Listings
Percent Change Year-over-Year
103 140 156 142 158 163 135 152 153 161 171 157 103
0.0% 16.7% -1.3% 10.1% 16.2% 13.2% 5.5% -6.7% 0.0% 15.8% 15.5% -20.7% 3.0% 2015
200 150 100 50 0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Month
Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below)
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.
Median Sale Price
$220K
2011
2012
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
2013
Median Sale Price
Percent Change Year-over-Year
$212,500 $180,000 $180,000 $187,450 $180,500 $206,000 $179,900 $180,000 $200,000 $175,750 $173,500 $173,500 $181,000
17.4% 0.0% 10.8% 20.9% 0.8% 12.6% 10.4% -10.9% 16.1% -2.4% 5.2% 9.1% 7.7%
2014
2015
$200K $180K $160K $140K $120K $100K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
Month
Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales)
Average Sale Price
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.
$330K
2011
2012
2013
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
Average Sale Price
Percent Change Year-over-Year
$294,360 $278,858 $255,294 $262,610 $229,930 $255,753 $221,936 $260,235 $297,917 $228,260 $219,938 $263,683 $228,045
29.1% -1.1% 17.2% 29.3% -6.9% 11.1% 15.8% -0.8% 27.8% -15.1% 11.4% 19.5% 4.1% 2015
$280K $230K $180K $130K J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Month
Median Days on Market The median number of days that properties sold during the month were on the market 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.
Median Days on Market
250
2011
2012
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
2013
Median Days on Market
Percent Change Year-over-Year
105 95 80 90 97 113 92 97 93 103 107 133 110
-4.5% -20.8% -14.9% -17.4% -21.8% 4.6% -4.2% -2.0% -15.5% -15.6% 15.1% 31.7% -10.6%
2014
2015
200 150 100 50 0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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
Avg. Pct. of Orig. List Price Received
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.
95%
2011
2012
2013
Month December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
Avg. Pct. of Orig. List Price Received
Percent Change Year-over-Year
90.5% 91.0% 93.5% 92.1% 92.3% 91.6% 92.4% 92.3% 91.0% 90.3% 91.0% 88.5% 90.5%
0.0% 3.4% 3.7% 2.2% 1.0% 1.0% 1.5% 1.0% 1.2% 0.1% -2.0% -0.6% 0.4% 2015
90% 85% 80% 75% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Month
Inventory (Active Listings) The number of property listings active at the end of the month
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.
1,200
2011
2012
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014
2013
Inventory
Percent Change Year-over-Year
638 639 646 628 630 606 594 653 647 660 691 701 681
-6.3% -6.3% -8.6% -7.0% -11.4% -15.8% -17.7% -12.5% -10.5% -7.7% -7.9% -4.0% 3.7%
2014
2015
Inventory
1,000 800 600 400 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
Month
Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates
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.
Months Supply of Inventory
25.0
2011
2012
2013
December 2015 November 2015 October 2015 September 2015 August 2015 July 2015 June 2015 May 2015 April 2015 March 2015 February 2015 January 2015 December 2014 2014
Months Supply
Percent Change Year-over-Year
6.4 6.4 6.6 6.3 6.3 6.1 6.1 6.7 6.7 6.9 7.5 7.7 7.5
-14.4% -18.2% -19.6% -21.2% -25.0% -27.7% -30.0% -26.4% -24.0% -18.2% -16.4% -11.8% -5.6% 2015
20.0 15.0 10.0 5.0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area.
Closed Sales by Sale Price
The number of sales transactions which closed during the month 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. December 2014
Closed Sales
35 30 25 20 15 10 5 0 Less than $50,000
$50,000 $99,999
$100,000 $149,999
$150,000 $199,999
$200,000 $249,999
$250,000 $299,999
$50,000 $99,999
$100,000 $149,999
Median Days on Market
2
-33.3%
$50,000 - $99,999
11
-8.3%
$100,000 - $149,999
22
-31.3%
$150,000 - $199,999
21
16.7%
$200,000 - $249,999
16
14.3%
$250,000 - $299,999
13
8.3%
$300,000 - $399,999
15
50.0%
$400,000 - $599,999
9
12.5%
$600,000 - $999,999
5
0.0%
$1,000,000 or more
4
N/A
$300,000 $399,999
$400,000 $599,999
$600,000 - $1,000,000 or $999,999 more Median Days on Market
Percent Change Year-over-Year
Less than $50,000
196
716.7%
$50,000 - $99,999
90
-11.8%
$100,000 - $149,999
69
-44.4%
$150,000 - $199,999
109
10.1%
$200,000 - $249,999
115
-23.3%
$250,000 - $299,999
103
-14.2%
$300,000 - $399,999
98
38.0%
$400,000 - $599,999
130
-53.1%
$600,000 - $999,999
161
151.6%
$1,000,000 or more
398
N/A
Sale Price
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.
Less than $50,000
Less than $50,000
35 30 25 20 15 10 5 0
The median number of days that properties sold during the month were on the market
450 400 350 300 250 200 150 100 50 0
Percent Change Year-over-Year
December 2015
Median Days on Market by Sale Price
December 2014
Closed Sales
Sale Price
December 2015
$150,000 $199,999
$200,000 $249,999
450 400 350 300 250 200 150 100 50 0 $250,000 $299,999
$300,000 $399,999
$400,000 $599,999
$600,000 - $1,000,000 or $999,999 more
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Market Detail - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area.
New Listings by Initial Listing Price
The number of properties put onto the market during the month 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. December 2014
New Listings
30
Initial Listing Price
New Listings
Percent Change Year-over-Year
Less than $50,000
0
N/A
$50,000 - $99,999
7
-30.0%
$100,000 - $149,999
25
66.7%
$150,000 - $199,999
21
23.5%
$200,000 - $249,999
14
0.0%
$250,000 - $299,999
12
-25.0%
$300,000 - $399,999
13
-13.3%
$400,000 - $599,999
5
-54.5%
$600,000 - $999,999
3
200.0%
$1,000,000 or more
3
-25.0%
December 2015
30
25
25
20
20
15
15
10
10
5
5
0
0 Less than $50,000
$50,000 $99,999
$100,000 $149,999
$150,000 $199,999
$200,000 $249,999
$250,000 $299,999
The number of property listings active at the end of the month
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.
Inventory
120
$400,000 $599,999
$600,000 - $1,000,000 or $999,999 more
Inventory
Percent Change Year-over-Year
Less than $50,000
2
-66.7%
$50,000 - $99,999
28
-45.1%
$100,000 - $149,999
87
-8.4%
$150,000 - $199,999
94
8.0%
$200,000 - $249,999
75
-11.8%
$250,000 - $299,999
74
-2.6%
$300,000 - $399,999
104
1.0%
$400,000 - $599,999
75
-10.7%
$600,000 - $999,999
54
22.7%
$1,000,000 or more
45
-10.0%
Current Listing Price
Inventory by Current Listing Price
December 2014
$300,000 $399,999
December 2015
120
100
100
80
80
60
60
40
40
20
20
0
0 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 - $1,000,000 or $999,999 more
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.
Monthly Distressed Market - December 2015 Single Family Homes New Smyrna Beach Board of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area.
Closed Sales
December 2015
December 2014
Percent Change Year-over-Year
110
99
11.1%
$217,950
$181,000
20.4%
7
10
-30.0%
$78,500
$109,900
-28.6%
1
5
-80.0%
$104,750
$192,500
-45.6%
Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price
2011
2012
Traditional
2013
Foreclosure/REO
2014
2015
Short Sale
100% 90%
Closed Sales
80% 70% 60% 50% 40% 30% 20% 10% 0% J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND $1,400,000 $1,200,000
Median Sale Price
$1,000,000 $800,000 $600,000 $400,000 $200,000 $0 J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND J FMAM J J A S OND
2011
2012
2013
2014
2015
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 Friday, January 22, 2016. Next data release is Tuesday,February 23, 2016.