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MIBOR REPORT
February 2017
The start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. Just as we saw many times in 2016, buyer activity is easily outpacing seller activity in much of the country, culminating in relatively quick sales and low supply. Demand de nitely remained strong this month.
Closed Sales remained unchanged at 1,984. Pending Sales increased 4.3 percent to 2,550, and Inventory shrank 17.2 percent to 8,489.
Median Sales Price was up 12.6 percent to $152,000. Percent of Original List Price Received increased 1.2 percent to 94.0%. Absorption Rate was down 23.7 percent to 2.9.
Unemployment has reached pre-recession levels, and Americans remain optimistic about nding quality employment. This matters because job growth and higher paychecks fuel home purchases. Demand is high and potential sellers should take notice and consider what this market has to offer.
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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.
Dec 2016 Pending Sales Jan 2017 Feb 2017
Rolling 12 Months
Current Prior Year + / –
32,324 30,458 32,436 30,681 32,541 30,982
+ 6.1% + 5.7% + 5.0%
Rolling 6 Months
Current Prior Year + / –
15,030 14,715 14,328 13,960 13,817 13,740
+ 2.1% + 2.6% + 0.6%
Rolling 3 Months
Current Prior Year + / –
7,864 7,959 7,208 7,121 7,585 7,673
- 1.2% + 1.2% - 1.1%
Monthly
Current Prior Year + / –
Dec 2016 New Listings Jan 2017 Feb 2017
43,417 42,966 43,446 42,722 43,420 43,022
+ 1.0% + 1.7% + 0.9%
19,766 19,415 18,094 17,861 17,182 17,069
+ 1.8% + 1.3% + 0.7%
1,884 1,975 2,581 2,552 3,120 3,146
- 4.6% + 1.1% - 0.8%
6,423 6,566 6,186 6,133 6,612 6,425
- 2.2% + 0.9% + 2.9%
1,913 1,943 2,149 2,037 2,550 2,445
- 1.5% + 5.5% + 4.3%
Dec 2016 Closed Sales Jan 2017 Feb 2017
35,433 32,190 35,509 32,321 35,509 32,495
+ 10.1% + 9.9% + 9.3%
18,339 16,753 16,652 15,004 15,244 13,984
+ 9.5% + 11.0% + 9.0%
8,258 7,483 7,220 6,541 6,555 6,368
+ 10.4% + 10.4% + 2.9%
2,765 2,654 1,806 1,730 1,984 1,984
+ 4.2% + 4.4% 0.0%
Dec 2016 Median Sales Price Jan 2017 Feb 2017
Dec 2016 Average Sales Price Jan 2017 Feb 2017
Pct. of Original List Price Received at Sale
Dec 2016 Jan 2017 Feb 2017
$154,000 $154,500 $155,000
$147,000 $147,900 $148,000
+ 4.8% + 4.5% + 4.7%
$190,120 $190,608 $191,596
$183,709 $183,947 $184,076
+ 3.5% + 3.6% + 4.1%
$155,000 $154,000 $153,500
$148,000 $145,000 $142,000
+ 4.7% + 6.2% + 8.1%
$192,967 $191,655 $191,055
$185,556 $181,691 $178,550
+ 4.0% + 5.5% + 7.0%
$153,000 $150,100 $150,000
$144,000 $142,000 $139,900
+ 6.3% + 5.7% + 7.2%
$191,091 $190,600 $189,191
$181,266 $180,625 $176,205
+ 5.4% + 5.5% + 7.4%
94.1% 93.1% 93.9% 92.9% 93.7% 92.9%
+ 1.1% + 1.1% + 0.9%
$153,000 $143,700 $152,000
$144,000 $137,500 $135,000
+ 6.3% + 4.5% + 12.6%
$194,462 $182,552 $187,893
$183,468 $172,016 $170,125
+ 6.0% + 6.1% + 10.4%
94.8% 93.7%
94.8% 93.8%
94.9% 93.8%
+ 1.2% + 1.1% + 1.2%
94.8% 93.8% 94.5% 93.5% 94.2% 93.2%
+ 1.1% + 1.1% + 1.1%
93.6% 92.9% 93.5% 92.9% 94.0% 92.9%
+ 0.8% + 0.6% + 1.2%
Dec 2016 Available at Month End Jan 2017 Feb 2017
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.
8,946 10,390 8,668 10,186 8,489 10,255
- 13.9% - 14.9% - 17.2%
Months Supply of
Inventory / Absorption Jan 2017
Rate
Feb 2017
Dec 2016
3.0 3.9 2.9 3.8 2.9 3.8
- 23.1% - 23.7% - 23.7%
Data obtained from the Broker Listing Cooperative® (BLC®). Report format © 2017 ShowingTime. | 2