Weekly Market Report - WebsiteBox

Southern Indiana Realtors® Association

Weekly Market Report October 1, 2017

David Cunningham Semonin REALTORS® 502-296-8925 Serving Southern Indiana [email protected] www.davidcunningham.semonin.com

Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

ACTIVE INVENTORY CURRENT 10/1/2017

FOUR WEEKS AGO

1,047

1,065 DOWN

994

SIX MONTHS AGO

ACTIVE LISTINGS

ONE YEAR AGO

1,284

1,150

FROM LAST YEAR

FOUR WEEKS AGO

$223K

11%

$227K

FROM LAST YEAR

$227K

SIX MONTHS AGO

AVERAGE LIST PRICE

UP

THREE MONTHS AGO

ONE YEAR AGO

$226K

$201K

FOUR WEEKS AGO

2.5

2.8 FROM LAST YEAR

ONE YEAR AGO

3.5

3.6

5 YEAR TRENDING | ACTIVE LISTINGS & MONTHS OF INVENTORY 12

2,600 2,300 2,000 1,700 1,400 1,100 800 500

10 8 6 4 2

Active Listings

2016

2015

2014

0 2013

MONTHS OF I N V E N T O RY Months of Inventory (MOI) is the amount of time it would take to sell all current listings at the current sales pace. MOI is what most professionals in the business use to determine whether it is a Seller’s Market, a Buyer’s Market, or a Balanced Market. To calculate MOI, we divide the number of current active listings by the number of listings sold in the last 30 days.

2012

22%

2.5

SIX MONTHS AGO

MONTHS OF INVENTORY

DOWN

THREE MONTHS AGO

2017

17%

THREE MONTHS AGO

Months of Inventory

SIRA is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days from each current date noted throughout this report. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

418 396

UP

5%

379

FROM LAST YEAR

331 360

$174K UP

$171

9%

$180K

FROM LAST YEAR

AS OF 10/1/2017

$150K $156K

83

FROM LAST YEAR

14%

83

78

DOWN

SIRA is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days from each current date noted throughout this report.

80 91

Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

DAY S O N M A R K E T Days on Market (DOM) is the period of time a property is active on the Multiple Listings Service before a conditional offer is accepted. Simply put: it’s a measure of how many days a home takes to sell. DOM is closely watched as it is an indicator of how strong the housing market is. The lower the DOM suggests it is a seller’s market. The higher the DOM usually suggests it’s a buyer’s market.

78 AVERAGE DAYS ON MARKET

The Average Days on Market calculation does not reflect the times a home that is sold has been on the market before by (1) its owner, (2) another Realtor whose listing expired, or (3) a listing cancelled and then relisted to generate new interest. This number, in most instances, does not reflect the number of days from contract to close which averages 30-45 days for most closings. In order to have a true picture of the date property is listed to the date of closing, a seller would need to add prior “days for sale” activity to the above average days on market plus 30-45 days from contract to close. The above is not reflective of a specific area but takes into account all homes on the MLS that sold in the last 30 days and the last 12 months. Your agent can give you a specific report tailored to your area.

L I S T TO S A L E R AT I O BY MARKET TIME

L I S T T O S A L E R AT I O

120+ Days 90-120 Days 61-90 Days 31-60 Days 0-30 Days 94%

95%

96%

97%

98%

99%

100%

This ratio is calculated by dividing the actual sales price by the home’s final list price and express it as a percentage. This can help buyers and sellers negotiate on pricing. For example, an average list-tosale ratio of less than 100 percent shows that sellers generally accept less than their asking prices in that particular market. Home seekers may be able to secure the property by making an offer that reflects the average discount that buyers are receiving. Sellers reviewing the list-to-sale ratio can see at a glance whether their list price is too low or too high, and adjust the list price accordingly.

List-toSale Ratio(%) SIRA is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days from each current date noted throughout this report. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

M O R T G A G E R AT E S

Monthly mortgage cost on $200K home with current interest rate 4.0%

6 5

$954.83

4 3 2 2010

2011

2012

2013

2014

2015

2016

2017

H I S T O R I C A V E R A G E M O R T G A G E P AY M E N T S S E E N B Y G E N E R A T I O N MILLENIALS

GEN X

$1,024.09

$1,157.00

$200K

YOUNGER BABY BOOMERS

OLDER BABY BOOMERS

$1,301.19

$1,499.72 *Mortgage payment is principle and interest only.

20% 18%

18.45%

3 0 Y E A R F I X E D M O R T G AG E R AT E S FROM A GENERATIONAL STANDPOINT

16% 14%

11.26%

12% 10%

8.52%

8% 6% 4%

6.70% 4.59% 3.35%

8.23% 6.78%

5.67% 3.35%

3.35%

3.35%

MILLENNIALS

GEN X

YOUNGER BABY BOOMERS

OLDER BABY BOOMERS

(Rates from 2007-2017)

(Rates from 1997-2017)

2% 0% Average

(Rates from 1987-2017)

Minimum

(Rates from 1977-2017)

Maximum

Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These *Historical rate information sourced Disclaimer: by fred.stlouisfed.org statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace. Information deemed reliable, but not guaranteed.

Southern Indiana Realtors® Association

I N V E N T O RY, S A L E S & M A R K E T C O N D I T I O N B Y P R I C E DATA F O R L A S T 3 0 DAY S A S O F 1 0 / 1 / 2 0 1 7

Active Listings

Percent of Inventory

Last 30 Days Sales

Percent of Market

Current Months of Inventory

$25-50K

43

4.0%

14

3.7%

3.1

SELLER'S

$50-75K

78

7.3%

29

7.7%

2.7

SELLER'S

$75-100K

131

12.2%

37

9.8%

3.5

SELLER'S

$100-125K

92

8.6%

43

11.4%

2.1

SELLER'S

$125-150K

88

8.2%

56

14.8%

1.6

SELLER'S

$150K-175K

90

8.4%

51

13.5%

1.8

SELLER'S

$175-200K

72

6.7%

28

7.4%

2.6

SELLER'S

$200-225K

48

4.5%

26

6.9%

1.8

SELLER'S

$225K-250K

88

8.2%

33

8.7%

2.7

SELLER'S

$250-275K

52

4.9%

16

4.2%

3.3

SELLER'S

$275-300K

60

5.6%

12

3.2%

5.0

SELLER'S

$300-350K

58

5.4%

9

2.4%

6.4

BALANCED

$350-400K

52

4.9%

11

2.9%

4.7

SELLER'S

$400-500K

53

5.0%

6

1.6%

8.8

BUYER'S

$500-600K

14

1.3%

2

0.5%

7.0

BALANCED

$600-700K

12

1.1%

1

0.3%

12.0

BUYER'S

$700K +

26

2.4%

0

0.0%

N/A

N/A

1070

100.0%

378

100.0%

2.8

SELLER'S

43

4.0%

14

3.7%

3.1

SELLER'S

PRICE RANGE

Total $25-50K

Market Condition

SELLER’S MARKET

BALANCED MARKET

BUYER’S MARKET

LESS THAN 6 MONTHS home prices will appreciate

BETWEEN 6 – 7 MONTHS Home prices will only appreciate with inflation

GREATER THAN 7 MONTHS Home prices will depreciate

SIRA is primarily Clark, Floyd, Harrison and surrounding Indiana counties just north of the Ohio River. Information is deemed reliable but not guaranteed and the MLS is not in any way responsible for the accuracy of this information. These statistics include single family homes and condos only and may not represent all real estate information in our markets. Last 30 days statistics go back 30 days from each current date noted throughout this report. Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

I S YO U R H O M E I N T H E M A R K E T, O N T H E M A R K E T, O R O F F T H E M A R K E T ? A L O O K AT PRICE VS CONDITION:

Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.

Southern Indiana Realtors® Association

Disclaimer: Information is deemed reliable but not guaranteed and the MLS is not responsible for the accuracy of this information. These statistics include single family homes and condos only and it may not represent all real estate information in the local marketplace.