Montgomery County Market Report for Nov 3rd 2013

8/14/2019 Montgomery County Market Report for Nov 3rd 2013

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TABLE OF CONTENTS

Charts and Commentary ……………………………………………….. Pages 1-2

Market Summary Table ……………………………………………….. Page 3

Glossary ………………………………………………………………... Page 4

Su M Tu W Th F Sa Sunday, November 31 2

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MONTGOMERY COUNTY MONTGOMERY COUNTY MONTGOMERY COUNTY MONTGOMERY COUNTY EAL ESTATE MARKET REPORT

Tania Ivey & Marc CormierKeller Williams Realty

2101 Wilson Boulevard Suite 100

Arlington, VA 22201

www.Help2ownaHome.com

www.MarcCormier.me

[email protected]

[email protected]

301 660-6272

703 564-4026

mddcvahotprops

https://www.facebook.com/pages/Fairfax-County-Luxu

Real Market Reportswww.RealMarketReports.com




Taking a closer look, we notice

the $300K - $400K price range ha

relatively large number of contrpending sale.

We also notice that the $0K - $1

price range has a relatively la

inventory of properties for sale at

listings. The median list price

asking price) for all properties in

market is $444,900.

A total of 5121 contracts have clo

in the last 6 months with a median

price of $476,000. Breaking it do

we notice that the $300K - $400K p

range contains the highest numbe

sold listings.

Alternatively, a total of 2431 list

have failed to sell in that same peof time. Listings may fail to sel

many reasons such as being pr

too high, having been inadequa

marketed, the property was in p

condition, or perhaps the owner

second thoughts about selling at

particular time. The $0K - $100K prange has the highest number of

market listings at 593 properties.

"Current inventory is described

as mildly active."

at the real estate market. Currently

here are 1312 sales pending in themarket overall, leaving 2545 listings

still for sale. The resulting pending

ratio is 34.0% (1,312 divided by

3,857). So you might be asking

yourself, that's great... but what

exactly does it mean? I'm glad you

asked!

The pending ratio indicates the supply

& demand of the market. Specifically,

a high ratio means that listings are indemand and quickly going to contract.

Alternatively, a low ratio means there

are not enough qualified buyers for the

existing supply.

0

100

200

300

400

500

600

700

$ 0 K

$ 1 0 0 K

$ 2 0 0 K

$ 3 0 0 K

$ 4 0 0 K

$ 5 0 0 K

$ 6 0 0 K

$ 7 0 0 K

$ 8 0 0 K

$ 9 0 0 K

$ 1 . 0

M

$ 1 . 1

M

$ 1 . 2

M

$ 1 . 3

M

Properties For Sale

Contracts Pending

0

200

400

600

800

1000

1200

$ 0 K

$ 1 0 0 K

$ 2 0 0 K

$ 3 0 0 K

$ 4 0 0 K

$ 5 0 0 K

$ 6 0 0 K

$ 7 0 0 K

$ 8 0 0 K

$ 9 0 0 K

$ 1 . 0

M

$ 1 . 1

M

$ 1 . 2

M

$ 1 . 3

M

$ 1 . 4

M

Sold

Off-Market

Montgomery County

Number of Listings For Sale vs. Pending Contract

Montgomery County

Num Sold vs. Off-Market (Last 6 mos.)

et's take a look

1Real Market Reportswww.RealMarketReports.com

Updated 11/3/2013, RealMarketReports.Copyright © Tania Ivey & Marc Cor

Updated 11/3/2013, RealMarketReports.comCopyright © Tania Ivey & Marc Cormier

Sunday, November 3, 2013

Market Dashb

[email protected]

Tania Ivey & Marc CormKeller Williams Re

301 660-6




Analysis of the absorption

indicates an inventory of 3.0 mo

based on the last 6 months of sa

This estimate is often used

determine how long it would tak

sell off the current inventory

properties if all conditions remathe same. It is significant to men

that this estimate does not take

consideration any additional prope

that will come onto the market in

future.

Looking at the chart to the right, you

might be wondering why average days

on market (DOM) is important. This isa useful measurement because it can

help us to determine whether we are

n a buyer's market (indicated by high

DOM), or a seller's market (indicated

by low DOM). Active listings

(properties for sale) have been on the

market for a median time of 45 days.

Analysis of sold properties for the last

six months reveals a median sold

price of $476,000 and 12 days on

market. Notice that properties in the$100K - $200K price range have sold

quickest over the last six months.

The recent history of sales can be

seen in the two charts below. The

median sold price for the last 30 days

was $459,000 with a DOM of 14 days.

Since the recent DOM is greater than

he median DOM for the last 6 months,

t is a negative indicator for demand. It

s always important to realize that realestate markets can fluctuate due to

many factors, including shifting interest

rates, the economy, or seasonal

changes.

Ratios are simple ways to express the

difference between two values such as

list price and sold price. In our case,

we typically use the list-to-sale ratio todetermine the percentage of the final

list price that the buyer ultimately paid.

It is a very common method to help

buyers decide how much to offer on a

property.

"The median list-to-sales ratio

for this area is 99.2%."

0

20

40

60

80

100

120

$ 0 K

$ 1 0 0 K

$ 2 0 0 K

$ 3 0 0 K

$ 4 0 0 K

$ 5 0 0 K

$ 6 0 0 K

$ 7 0 0 K

$ 8 0 0 K

$ 9 0 0 K

$ 1 . 0

M

$ 1 . 1

M

$ 1 . 2

M

$ 1 . 3

M

Sold

For Sale

$410K$420K$430K$440K$450K$460K$470K$480K$490K$500K

$510K

Jun Jul Aug Sep Oct Nov

0

5

10

15

20

Jun Jul Aug Sep Oct

Montgomery County

Median Days on Market (DOM)

Montgomery County

Median Days on Market (Sold)

Montgomery County

Median Sold Prices


Updated 11/3/2013, RealMarketReports.cCopyright © Tania Ivey & Marc Corm

Copyright © Tania Ivey & Marc CormierUpdated 11/3/2013, RealMarketReports.com

Copyright © Tania Ivey & Marc CormUpdated 11/3/2013, RealMarketReports.c


Market Dashb

[email protected]


301 660-6




A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

Date Range (Off-Market & Sold) = 05/05/2013 to 11/03/2013

Data believed to be accurate but not guaranteed.

1

Status = [1] ACTIVE; [2] CNTG/KO, CNTG/NO KO, CONTRACT; [3] EXPIRED, WITHDRN, TEMPOFF; [4] SOLD

County = MONTGOMERY

PropertyType = Residential

476,000$ 99%

586,007$ 99%

Market Medians 45 444,900$ 12 489,000$ 479,900$

2,431 5121

Market Averages 74 634,611$

Market Totals 2,545 1312 34%

32 603,185$ 593,223$

1,725,000$ 1,690,000$ 98%211

58

30 1,769,000$

1,892,650$ 97%2,000,683$ 1,954,076$2,468,683$58 19% 200

1,950,000$$1,400,000 + 253

136

91

1,338,842$ 97%

61 1,375,000$ 35 1,395,000$ 1,377,450$ 1,335,000$ 97%62

59 1,435,689$ 1,376,667$1,368,238$7 16% 28$1,300,000 $1,399,999 38

101

1,247,600$ 98%

53 1,250,000$ 15 1,295,000$ 1,275,000$ 1,250,000$ 98%78

31 1,288,055$ 1,267,536$1,259,653$25 34% 48$1,200,000 $1,299,999 49

86

1,144,331$ 98%

52 1,166,450$ 18 1,195,000$ 1,185,000$ 1,150,000$ 97%91

36 1,179,636$ 1,164,702$1,161,381$22 28% 72$1,100,000 $1,199,999 58

91

1,049,978$ 98%

45 1,050,000$ 11 1,099,999$ 1,085,000$ 1,050,000$ 97%73

37 1,100,533$ 1,076,579$1,057,683$20 36% 36$1,000,000 $1,099,999 36

69

942,861$ 99%

50 950,000$ 9 950,000$ 949,000$ 942,000$ 99%157 40 971,764$ 950,140$954,468$ 33 36% 78$900,000 $999,999 59 88

847,591$ 99%

57 849,900$ 11 859,000$ 850,000$ 850,000$ 100%277

30 865,513$ 853,782$855,497$36 27% 103$800,000 $899,999 96

92

746,609$ 99%

58 755,750$ 11 759,900$ 749,950$ 745,000$ 99%383

645,000$ 99%35%

645,865$83 654,280$92

555,751$129

45 550,000$

53 649,900$

5813679 546,279$

12 550,000$36%

544,900$

1,044 350,000$ 100%

452,288$196 42%

358,968$

272 46% 263

$400,000 $499,999 26664

359,900$$300,000 $399,999 32061

45

271 56% 15898%

259,061$

10 260,000$

256,140$ 254,655$ 99%$200,000 $299,999 212

53

Price Range Num

#

93%

$100,000 $199,999 1755 180,229$

94 85%

Days

on

Market

Current

List

Price

A = Average ValueM = Median Value

N/A = Not Available2545 ACTIVE

[1]

List-

Sale

Ratio

E

MLow High

2431 OFF-MARKET (last 6 mos) [3] ABSORPTION RA

(months of inventory

Num

#

Num

#

Num

#

5121 SOLD/CLOSED (last 6 months) [4]

Days

on

Market

Original

List

Price

Final

List

Price

Sold/

Closed

Price

MARKET SUMMARY TABLE 1312 PENDING[2]

$0 $99,999 61145

33

Pend

Ratio

2,760$1 0%

2,400$593 2

108 86,000$

108 86,000$

60,000$ 56,000$ 93%

60,000$ 56,000$

24 174,234$ 172,011$ 170,604$ 99%

175,000$ 175,000$ 175,000$ 100%38 185,000$ 7

68125

34 259,900$

58 161

258,368$

259,000$ 255,000$

28 357,129$ 352,624$ 349,779$ 99%

350,000$ 350,000$

11 450,000$

449,138$

12

449,000$ 440,000$ 98%817

29

42 449,900$277

444,673$ 99%

99%

646,875$

99%

100%

753,296$

33

456,146$

559,035$ 550,595$

549,000$

11 649,000$ 649,000$

5634 765,061$

654,693$168

760,377$$700,000 $799,999 132

128

$500,000 $599,999 229

$600,000 $699,999 169 503

209

30% 140



Market Summary T

[email protected]


301 660-6

Favors Sellers Favors Buyers




1. PROPERTIES FOR SALE (ACTIVE)

a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchaseagreement.

b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings

which have had a previous listing period, but were re-entered as a new listing.

c. Current List Price: The price that a property seller is currently asking.

2. CONTRACTS PENDING

a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.

b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under

contract vs. how fast they are being listed.

Pending Ratio = P (Number of Pending Listings)

A+P (Number of Active + Pending)

(P) represents properties that buyers have chosen

(A+P) represents the entire pool from which they have chosen

3. OFF-MARKET

a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some

owners may choose to re-offer their property for sale.

4. PROPERTIES SOLD (CLOSED CONTRACT)

a. Number Sold: The number of properties that have gone to a closing in the last 6 months.

b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.

c. Original List Price: The price at which a sold property was originally marketed.

d. Final List Price: The price at which a sold property was marketed just prior to selling.

e. Sold/Closed Price: The price for which a property sold.

f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.

List to Sales Ratio = Sold Price

Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY

a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.

For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of

inventory before counting the additional properties that will come on the market.

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Glos

[email protected]


301 660-6

Montgomery County Market Report for Nov 3rd 2013

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