Page 24 - Sites_February 17

MIBOR REPORT - YEAR END
December 2016
The 2016 housing market ended on a high note with an active December that offered the same monthly housing market highlights. Closed Sales increased, despite the continued declining inventory.
Closed Sales were up 4.2 percent in December compared to December 2015. Pending Sales decreased 1.3 percent and New Listings fell 4.6 percent. Median Sales Price was up 6.3 percent to $153,000. Average Sales Price rose 6.0 percent in December. AbsorptionRatewasdown23.1percentto 3.0.
The overwhelming feeling about prospects in residential real estate for the immediate future is optimistic. For the fth straight month, we have seen an increase in Closed Sales across the region, and with buyer demand remaining high, we can only hope that will increase inventory as well in 2017.
24
Market Overview
Key market metrics for the current month as well as for rolling segments in which the given value represents 3, 6 or 12 months of activity.
Oct 2016 Pending Sales Nov 2016 Dec 2016
Rolling 12 Months
Current Prior Year + / –
32,383 29,868 32,354 30,145 32,324 30,458
+ 8.4% + 7.3% + 6.1%
Rolling 6 Months
Current Prior Year + / –
17,448 16,657 16,306 15,721 15,030 14,715
+ 4.7% + 3.7% + 2.1%
10,886 9,597 7,864
10,740 + 1.4% 9,396 + 2.1% 7,959 - 1.2%
Rolling 3 Months
Current Prior Year + / –
Monthly
Current Prior Year + / –
Oct 2016 New Listings Nov 2016 Dec 2016
43,359 42,694 43,508 42,965 43,417 42,966
+ 1.6% + 1.3% + 1.0%
24,195 24,035 22,485 22,088 19,766 19,415
+ 0.7% + 1.8% + 1.8%
3,237 3,390 2,743 2,594 1,884 1,975
- 4.5% + 5.7% - 4.6%
8,142 7,827 7,205 7,315 6,423 6,566
+ 4.0% - 1.5% - 2.2%
2,386 2,470 2,124 2,153 1,913 1,943
- 3.4% - 1.3% - 1.5%
Oct 2016 Closed Sales Nov 2016 Dec 2016
34,830 31,844 35,322 31,916 35,433 32,190
+ 9.4% + 10.7% + 10.1%
20,573 18,801 19,472 17,796 18,339 16,753
+ 9.4% + 9.4% + 9.5%
9,432 8,463 8,689 7,616 8,258 7,483
+ 11.4% + 14.1% + 10.4%
2,844 2,672 2,649 2,157 2,765 2,654
+ 6.4% + 22.8% + 4.2%
Oct 2016 Median Sales Price Nov 2016 Dec 2016
Oct 2016 Average Sales Price Nov 2016 Dec 2016
Pct. of Original List Price Received at Sale
Oct 2016 Nov 2016 Dec 2016
$152,500 $153,000 $154,000
$146,000 $146,400 $147,000
+ 4.5% + 4.5% + 4.8%
$188,747 $189,283 $190,120
$182,640 $183,125 $183,709
+ 3.3% + 3.4% + 3.5%
$158,000 $157,000 $155,000
$150,000 $150,000 $148,000
+ 5.3% + 4.7% + 4.7%
$194,556 $194,951 $192,967
$187,946 $187,679 $185,556
+ 3.5% + 3.9% + 4.0%
$155,000 $155,000 $153,000
$147,100 $145,000 $144,000
+ 5.4% + 6.9% + 6.3%
$192,459 $192,463 $191,091
$182,511 $180,510 $181,266
+ 5.5% + 6.6% + 5.4%
95.0% 93.9% 94.6% 93.4% 94.1% 93.1%
+ 1.2% + 1.3% + 1.1%
$153,000 $152,000 $153,000
$142,000 $145,000 $144,000
+ 7.7% + 4.8% + 6.3%
$186,902 $192,059 $194,462
$176,881 $183,988 $183,468
+ 5.7% + 4.4% + 6.0%
94.6% 93.7%
94.7% 93.7%
94.8% 93.7%
+ 1.0% + 1.1% + 1.2%
95.4% 94.3% 95.2% 94.1% 94.8% 93.8%
+ 1.2% + 1.2% + 1.1%
94.4% 93.4% 94.4% 93.0% 93.6% 92.9%
+ 1.1% + 1.5% + 0.8%
Oct 2016 Available at Month End Nov 2016 Dec 2016
Total Active Listings
There are no rolling figures for Total Active Listings Available at Month End or Absorption Rate because these metrics are simply snapshots frozen in time at the end of each month. It does not add up over a period of months.
10,690 12,571 10,242 11,787 8,946 10,390
- 15.0% - 13.1% - 13.9%
Months Supply of
Inventory / Absorption Nov 2016
Rate
Dec 2016
Oct 2016
3.7 4.7 3.5 4.4 3.0 3.9
- 21.3% - 20.5% - 23.1%
Data obtained from the Broker Listing Cooperative® (BLC®). Report format © 2017 ShowingTime. | 2