MARKET AREA UPDATE · 2018. 4. 1. · June Property sales were 6, up 50.0% from 4 in June of 2016...

MARKET AREA UPDATE Year: 2017 Report as of: 1Q 2Q 3Q 4Q

Market Area (City, State): Sacramento, CA Provided by (Company / Companies): Coldwell Banker Provided by RDC Member(s): Lorna Magers

What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate) *

Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: *

Single Family (detached)

Condominiums / Townhomes (attached)

**Sales Price (current) Choose one: Average Median

$ 507,833

$ 574,450

**Sales Price (same time prior year) Choose one: Average Median

$ 226,667

$ 190,000

Average Days on Market – list to contract (current)

# 21 Increase Decreasing Stable

# 0 Increase Decreasing Stable

Absorption – Months of Inventory (last 3 months) Number of active listings divided by the average # of sales per month (for the last 3 months) = # of months needed to sell existing inventory Example: Active Listings = 4500 Closed sales in the past 3 months = 4000 RIGHT: 4,000/3 (months)=1,333 (sales per month)

4,500/1,333=3.37 months of inventory WRONG: 4,500/4,000=1 month of inventory

# 4.5

# 1

Absorption – Months of Inventory (same time prior year) # 5 # 4

Active Listings # 27 # 2

Closed ( total last 3 months) # 17 # 2

Expired Listings ( total last 3 months if available) # #

Change in Home Values

% -8

Increase in past 3 months Stable Decreasing in past 3 months

% -100

Increase in past 3 months Stable Decreasing in past 3 months

Sold LP/SP Ratio (last 3 months) % 101 % -100

*Average = the result by adding all sales prices and dividing by the number of units sold Median = denoting the middle of the range of values

How would you rate the overall economic conditions in area as defined above: Mixed Stable Healthy Shrinking Depressed Supply of Listings: (Single family) Shortage Oversupply Balanced ~ (Condo/Town home) Shortage Oversupply Balanced Overall Market Conditions: Active Stable Sluggish Flat Depressed Unemployment Rate: % % 5.1 Average – Please check trend: Increasing Decreasing Same Please describe local economic conditions/climate: (draw upon newspaper articles concerning the coming and going of corporations, layoffs, etc.) *Please see attached stats Is There a Charge for Rental Assistance: Yes No Outsourced Is Home/Condo Rental Information Available in Your MLS: Yes No

Single Family Housing Availability: (3+Bedrooms) Shortage Oversupply Balanced Average Rent $1835 Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $1600 Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent $1325

REAL ESTATE MARKET DATA

GENERAL ECONOMY

RENTAL INFORMATION

Sacramento Area Economic Summary

•

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

Source: U.S. BLS, Current Employment Statistics.

Average weekly wages for all industries by county

Unemployment rates for the Sacramento area, selected area counties, and the nation

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

Apr-14 Apr-15 Apr-16 Apr-17

Percent

Sacramento area United States

Source: U.S. BLS, Current Employment Statistics.

12-month percent changes in employment

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.

5.0

4.6

3.7

4.2

4.4

4.1

5.7

5.3

4.4

5.1

5.1

4.7

0.0 2.0 4.0 6.0

Yolo Co.

Sacramento Co.

Placer Co.

El Dorado Co.

Sacramentoarea

United States

Apr-16 Apr-17Source: U.S. BLS, Local Area Unemployment Statistics.

Unemployment rates

Sacramento area, 3rd quarter 2016 (U.S. = $1,027; Area = $1,093)

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Updated May 31, 2017

Sacramento area employment (numbers in thousands)

Apr. 2017

Change from Apr.

2016 to Apr. 2017

Number Percent Total nonfarm 956.4 10.5 1.1 Mining and logging 0.5 0.1 25.0 Construction 51.4 -2.3 -4.3 Manufacturing 34.8 -1.1 -3.1 Trade, transportation, and utilities 151.0 1.2 0.8 Information 13.3 -0.6 -4.3 Financial activities 52.9 1.6 3.1 Professional and business services 129.3 1.6 1.3 Education and health services 151.6 6.4 4.4 Leisure and hospitality 103.5 3.5 3.5 Other services 30.4 -0.9 -2.9 Government 237.7 1.0 0.4

https://www.bls.gov/sae

https://www.bls.gov/cew

https://www.bls.gov/lau

https://www.bls.gov/regions/economic-summaries.htm

Average hourly wages for selected occupations

Over-the-year changes in the selling prices received by producers for selected industries nationwide

-7.0

-5.0

-3.0

-1.0

1.0

3.0

5.0

Apr-14 Apr-15 Apr-16 Apr-17

Percent

General freight truckingHospitalsWineries

12-month percent changes in PPI

Source: U.S. BLS, Producer Price Index.

Over-the-year change in the prices paid by urban consumers for selected categories

Average annual spending and percent distribution for selected categories

2.9

1.1

8.0

2.2

0.5

9.3

0.0

2.0

4.0

6.0

8.0

10.0

All Items Food Energy

West regionU.S. city average

Source: U.S. BLS, Consumer Price Index.

Housing$20,71633.8%

Trans-portation

$9,64015.7%Food

$7,77612.7%

Personal insurance &

pensions$7,09811.6%

Healthcare$4,2216.9%

All other$11,79319.3%

Source: U.S. BLS, Consumer Expenditure Survey.

Total:

Occupation Sacramento area

United States

Total, all occupations $26.30 $23.86

Lawyers 62.41 67.25

Registered nurses 54.54 34.70

Civil engineers 50.62 43.14

Computer systems analysts 40.28 44.05

Urban and regional planners 39.45 35.12

Accountants and auditors 33.97 36.89

Conservation scientists 32.18 31.31

Carpenters 24.13 23.24

Construction laborers 21.12 18.22

Medical secretaries 20.62 16.85

Retail salespersons 14.11 13.07

Cooks, fast food 10.82 9.89

Source: U.S. BLS, Occupational Employment Statistics, May 2015.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Over-the-year changes in wages and salaries

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Mar-14 Mar-15 Mar-16 Mar-17

Percent

Pacific United States

12-month percent changes in ECI

Source: U.S. BLS, Employment Cost Index.

Private industry, December 2016 Pacific (1) United

States

Total compensation $36.35 $32.76 Wages and salaries 25.46 22.83 Total benefits 10.89 9.93

Paid leave 2.48 2.28 Vacation 1.24 1.17

Supplemental pay 0.92 1.15 Insurance 2.84 2.63 Retirement and savings 1.60 1.31 Legally required benefits 3.05 2.56

(1) Pacific includes AK, CA, HI, OR, and WA. Source: U.S. BLS, Employer Costs for Employee Compensation.

12-month percent change in CPI-U, April 2017

West Region average annual expenditures 2015

$61,244

Western Information Office • [email protected] • https://www.bls.gov/regions/west • 415-625-2270

https://www.bls.gov/oes

https://www.bls.gov/ppi

https://www.bls.gov/ppi

https://www.bls.gov/cpi

https://www.bls.gov/cpi

https://www.bls.gov/cex

https://www.bls.gov/ncs/ect

https://www.bls.gov/ect

MARKET ACTION REPORT

June 2017

County: SacramentoAmy CunninghamSales Associate(925) 771-5446https://www.coldwellbankerhomes.com/mn/edina/[email protected]

Price Range: 0 to 999999999 | Properties: Single Family Home, Townhome, Condo

© 2017 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act andthe Equal Opportunity Act. Coldwell Banker Residential Brokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo areregistered service marks owned by Coldwell Banker Real Estate LLC.. DRE # 00313415

Based on information from Bay Area Real Estate Information Services, Inc. for the period 7/1/2014 through 6/30/2017. Due to MLS reporting methods and allowablereporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the dataaccuracy. Data maintained by the MLS's may not reflect all real estate activity in the market.

Trending Versus*: Trending Versus*:Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear

Median List Price of all Current Listings $479,000 Average List Price of all Current Listings $633,740 June Median Sales Price $419,000 $329,900June Average Sales Price $507,833 $382,485Total Properties Currently for Sale (Inventory) 29 June Number of Properties Sold 6 29June Average Days on Market (Solds) 21 49Asking Price per Square Foot (based on New Listings) $260 $243June Sold Price per Square Foot $214 $219June Month's Supply of Inventory 4.8 4.4June Sale Price vs List Price Ratio 101.0% 99.7%

* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales June Property sales were 6, up 50.0% from 4 in June of 2016 and 20.0% higher than the 5 sales last month. June 2017 sales were at their highest level compared to June of 2016 and 2015. June YTD sales of 29 are running 7.4% ahead of last year's year-to-date sales of 27.

Prices The Median Sales Price in June was $419,000, up 114.9% from $195,000 in June of 2016 and up 61.2% from $260,000 last month. The Average Sales Price inJune was $507,833, up 133.5% from $217,500 in June of 2016 and up 47.6% from $343,974 last month. June 2017 ASP was at highest level compared to Juneof 2016 and 2015.


June 2017





Inventory & MSI The Total Inventory of Properties available for sale as of June was 29, up 20.8% from 24 last month and up 3.6% from 28 in June of last year. June 2017Inventory was at highest level compared to June of 2016 and 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2017 MSI of 4.8 months was at its lowest levelcompared with June of 2016 and 2015.

Market Time The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate amove towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for June was 21, up 23.5% from 17 days lastmonth and down -27.6% from 29 days in June of last year. The June 2017 DOM was at a mid range compared with June of 2016 and 2015.

Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impactedby the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The June 2017 Selling Price per Square Foot of $214 was down -15.1% from $252 last month and up 8.6% from $197 in June of last year.


June 2017





Selling Price vs Listing Price The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The June 2017 Selling Price vs List Price of 101.0% was upfrom 100.9% last month and up from 100.9% in June of last year.

Inventory / New Listings / Sales 'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annualseasonality of the market as well as the relationship between these items. The number of New Listings in June 2017 was 19, down -9.5% from 21 last monthand up 72.7% from 11 in June of last year.


June 2017



© 2017 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker ResidentialBrokerage is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.. DRE # 00313415

Based on information from Bay Area Real Estate Information Services, Inc. for the period 7/1/2014 through 6/30/2017. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may notbe completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market.

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M J

Homes Sold 2 2 3 2 2 2 3 3 3 0 1 3 10 6 5 1 1 2 3 3 4 9 4 4 4 6 5 4 12 4 5 3 2 8 5 63 Mo. Roll Avg 2 2 2 2 2 3 3 2 1 1 5 6 7 4 2 1 2 3 3 5 6 6 4 5 5 5 7 7 7 4 3 4 5 6

(000's) J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JMedianSalePrice 217 143 280 250 229 129 219 290 430 0 251 360 265 340 290 142 165 274 184 385 298 290 368 195 284 345 380 333 324 310 230 320 551 322 260 4193 Mo. Roll Avg 213 224 253 203 192 213 313 240 227 204 292 322 298 257 199 194 208 281 289 324 318 284 282 275 336 353 346 322 288 287 367 397 377 334

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JInventory 16 16 23 21 19 15 14 16 17 21 20 22 19 20 22 22 18 12 15 19 17 16 25 28 35 36 35 26 17 10 11 12 18 13 24 29MSI 8 8 8 11 10 8 5 5 6 0 20 7 2 3 4 22 18 6 5 6 4 2 6 7 9 6 7 7 1 3 2 4 9 2 5 5

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JDays On Market 111 80 17 100 11 68 147 37 58 0 127 6 58 100 110 24 6 27 21 39 28 46 49 29 17 60 72 33 32 36 148 79 45 18 17 213 Mo. Roll Avg 69 66 43 60 75 84 81 32 62 44 64 55 89 78 47 19 18 29 29 38 41 41 32 35 50 55 46 34 72 88 91 47 27 19

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JPrice per Sq Ft 155 116 219 158 152 120 160 147 174 0 162 176 192 168 165 126 157 190 150 147 208 184 170 197 188 219 178 187 176 172 204 165 371 192 252 2143 Mo. Roll Avg 163 164 176 143 144 142 160 107 112 113 177 179 175 153 149 158 166 162 168 180 187 184 185 201 195 195 180 178 184 180 247 243 272 219

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JSale to List Price 0.927 0.923 0.948 0.971 0.994 0.878 0.929 0.987 0.934 0.000 0.984 1.010 0.975 0.917 0.892 0.947 1.000 0.950 1.094 0.991 0.956 0.973 1.002 1.009 1.021 0.951 0.992 0.986 0.976 0.981 0.975 0.923 0.990 1.022 1.009 1.010

3 Mo. Roll Avg 0.933 0.947 0.971 0.948 0.934 0.931 0.950 0.640 0.639 0.665 0.990 0.967 0.928 0.919 0.946 0.966 1.015 1.012 1.014 0.973 0.977 0.995 1.011 0.994 0.988 0.976 0.985 0.981 0.977 0.960 0.963 0.978 1.007 1.014

J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M J

New Listings 6 5 9 5 3 3 4 8 6 7 3 11 6 9 4 6 6 4 8 11 6 10 16 11 15 11 14 9 2 1 7 6 16 9 21 19Inventory 16 16 23 21 19 15 14 16 17 21 20 22 19 20 22 22 18 12 15 19 17 16 25 28 35 36 35 26 17 10 11 12 18 13 24 29Sales 2 2 3 2 2 2 3 3 3 0 1 3 10 6 5 1 1 2 3 3 4 9 4 4 4 6 5 4 12 4 5 3 2 8 5 6

(000's) J 14 A S O N D J 15 F M A M J J A S O N D J 16 F M A M J J A S O N D J 17 F M A M JAvg Sale Price 217 143 220 250 229 129 231 291 379 0 251 315 284 351 280 142 165 274 208 455 263 303 359 218 293 335 355 410 337 308 312 316 551 339 344 5083 Mo. Roll Avg 193 204 233 203 196 217 300 223 210 189 283 317 305 258 196 194 216 312 309 340 308 293 290 282 328 367 368 352 319 312 393 402 411 397

MARKET AREA UPDATE · 2018. 4. 1. · June Property sales were 6, up 50.0% from 4 in June of 2016...

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Transcript of MARKET AREA UPDATE · 2018. 4. 1. · June Property sales were 6, up 50.0% from 4 in June of 2016...