july 2013 housing report

June 2013 Activity Snapshot

One-Year Change in One-Year Change inSold Listings Days on Market

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rketing. Current as of July 10, 2013. All data from IRES, LLC. Powered by 10K Research and Marketing.

Monthly Indicators

- 3.1% - 20.9% + 11.1%One-Year Change in

As potentially the brightest sun in the current economic recovery, housing activity has followed the mercury higher this summer. Interest rates and new construction activity have been in the spotlight lately, fueled by concerns over tapering Federal Reserve activity and ongoing inventory constraints. Watch for indications that more homes are selling in less time and at higher price points. Also watch for sellers returning to an inviting marketplace, which will help replenish neighborhoods with new listings.

New Listings increased 18.6 percent to 561. Pending Sales were down 69.3 percent to 119. Inventory levels were at 1,309 units.

Prices got a lift. The Median Sales Price increased 11.1 percent to $249,450. Days on Market was down 20.9 percent to 72 days. Months Supply of Inventory was at 4.2 months.

The economy – which generates the jobs that fuel housing demand – continued to improve at a moderate pace during the second quarter of 2013. Budget sequesters and sluggish export growth have taken a back seat to housing recovery and stronger consumer spending. Interest rates could flirt with 4.0 or 4.25 percent again but the days of 3.3 percent interest are likely behind us.

Percent changes calculated using year-over-year comparisons.

Median Sales Price

Residential real estate activity in Area 9, comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.

Market OverviewNew Listings

Days on Market Until Sale

Pending SalesSold ListingsMedian Sales PriceAverage Sales PricePercent of List Price Received

Housing Affordability IndexGlossary of Terms

Market Overview

Key Metrics Historical Sparkbars 6-2012 6-2013 Percent Change YTD 2012 YTD 2013 Percent Change

--Not enough historical data for chart

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

New Listings 473 561 + 18.6% 2,757 + 9.3%

Pending Sales 387 119 - 69.3% 1,993 1,818 - 8.8%

2,523

--

Sold Listings 419 406 - 3.1% 1,653 1,923 + 16.3%

Under Contract -- -- -- -- --Not enough historical data for chart

+ 8.1%

Average Sales Price $263,626 $286,772 + 8.8% $254,774 $270,753 + 6.3%

Median Sales Price $224,500 $249,450 + 11.1% $221,900 $239,900

Affordability Index 161 138 - 14.3% 163 143

Months Supply -- 4.2 -- --Not enough historical data for chart

Active Listings -- 1,309 -- -- --

Current as of July 10, 2013. All data from IRES, LLC. Powered by 10K Research and Marketing. | Click for Cover Page | 2

+ 0.7%

Days on Market 91 72 - 20.9% 107 84 - 21.5%

Pct. of List Price Received 98.6% 99.3% + 0.7% 98.2% 98.9%

- 12.3%

-- --

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

6-2010 6-2011 6-2012 6-2013

New Listings

Prior Year

July 2012 471 386 +22.0%

August 2012 418 355 +17.7%

September 2012 303 296 +2.4%

October 2012 330 244 +35.2%

November 2012 242 179 +35.2%

December 2012 164 166 -1.2%

January 2013 317 266 +19.2%

February 2013 360 337 +6.8%

March 2013 443 460 -3.7%

April 2013 487 476 +2.3%

May 2013 589 511 +15.3%

June 2013 561 473 +18.6%

12-Month Avg 390 346 +12.7%

Historical New Listings by Month


A count of the properties that have been newly listed on the market in a given month.

New Listings

Percent Change from

Prior Year

496 473

561

2011 2012 2013

June

100

200

300

400

500

600

700

1-2009 1-2010 1-2011 1-2012 1-2013

2,427 2,523 2,757

2011 2012 2013

Year to Date

+ 9.3% - 4.6% + 18.6% + 4.0% + 9.0% - 18.8%

Pending Sales

Prior Year

July 2012 361 295 +22.4%

August 2012 288 253 +13.8%

September 2012 274 191 +43.5%

October 2012 270 204 +32.4%

November 2012 223 191 +16.8%

December 2012 194 151 +28.5%

January 2013 284 211 +34.6%

February 2013 295 287 +2.8%

March 2013 396 333 +18.9%

April 2013 380 379 +0.3%

May 2013 344 396 -13.1%

June 2013 119 387 -69.3%

12-Month Avg 286 273 +4.8%

Historical Pending Sales by Month


A count of the properties on which offers have been accepted in a given month.

Pending Sales

Percent Change from

Prior Year

297

387

119

2011 2012 2013

June

100

200

300

400

500

1-2009 1-2010 1-2011 1-2012 1-2013

1,640

1,993 1,818

2011 2012 2013

Year to Date

- 8.8% + 30.3% - 69.3% + 21.5% + 13.8% - 6.9%

Sold Listings

Prior Year

July 2012 400 319 +25.4%

August 2012 383 307 +24.8%

September 2012 308 238 +29.4%

October 2012 276 211 +30.8%

November 2012 267 200 +33.5%

December 2012 224 212 +5.7%

January 2013 202 149 +35.6%

February 2013 224 144 +55.6%

March 2013 316 280 +12.9%

April 2013 348 287 +21.3%

May 2013 427 374 +14.2%

June 2013 406 419 -3.1%

12-Month Avg 315 262 +20.2%

Historical Sold Listings by Month


A count of the actual sales that closed in a given month.

Sold Listings

Percent Change from

Prior Year

338

419 406

2011 2012 2013

June

100

200

300

400

500

1-2009 1-2010 1-2011 1-2012 1-2013

1,409 1,653

1,923

2011 2012 2013

Year to Date

+ 16.3% + 24.0% - 3.1% + 17.3% - 19.1% - 13.3%

Median Sales Price

Prior Year

July 2012 $228,000 $227,413 +0.3%

August 2012 $226,350 $209,650 +8.0%

September 2012 $233,750 $215,000 +8.7%

October 2012 $229,950 $215,000 +7.0%

November 2012 $232,000 $217,250 +6.8%

December 2012 $229,250 $211,000 +8.6%

January 2013 $240,500 $206,200 +16.6%

February 2013 $230,500 $210,000 +9.8%

March 2013 $242,250 $223,551 +8.4%

April 2013 $234,950 $231,620 +1.4%

May 2013 $235,997 $221,750 +6.4%

June 2013 $249,450 $224,500 +11.1%

12-Month Avg* $235,000 $220,000 +6.8%

Historical Median Sales Price by Month


Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

Median Sales Price

* Average Median Sales Price of all properties from July 2012 through June 2013. This is not the average of the individual figures above.

Percent Change from

Prior Year

$223,625 $224,500 $249,450

2011 2012 2013

June

$190,000

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

1-2009 1-2010 1-2011 1-2012 1-2013

$214,000 $221,900 $239,900

2011 2012 2013

Year to Date

+ 8.1% + 0.4% + 11.1% + 3.7% + 1.6% + 0.0%

Average Sales Price

Prior Year

July 2012 $255,812 $254,456 +0.5%

August 2012 $259,649 $244,439 +6.2%

September 2012 $263,617 $263,869 -0.1%

October 2012 $267,362 $249,906 +7.0%

November 2012 $259,893 $259,647 +0.1%

December 2012 $270,870 $251,023 +7.9%

January 2013 $271,735 $240,909 +12.8%

February 2013 $268,101 $232,717 +15.2%

March 2013 $265,701 $266,687 -0.4%

April 2013 $264,885 $257,289 +3.0%

May 2013 $264,970 $248,024 +6.8%

June 2013 $286,772 $263,626 +8.8%

12-Month Med* $266,459 $254,154 +4.8%

Historical Average Sales Price by Month


Average sales price for all closed sales, not accounting for seller concessions, in a given month.

Average Sales Price

* Average Sales Price of all properties from July 2012 through June 2013. This is not the average of the individual figures above.

Percent Change from

Prior Year

$255,628 $263,626 $286,772

2011 2012 2013

June

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

$280,000

$290,000

1-2009 1-2010 1-2011 1-2012 1-2013

$245,307 $254,774 $270,753

2011 2012 2013

Year to Date

+ 6.3% + 3.1% + 8.8% + 3.9% + 3.3% + 1.2%

Percent of List Price Received

Prior Year

July 2012 98.7% 97.5% +1.2%

August 2012 98.2% 97.6% +0.6%

September 2012 98.3% 97.1% +1.2%

October 2012 98.3% 97.6% +0.7%

November 2012 98.2% 97.0% +1.2%

December 2012 97.5% 98.1% -0.6%

January 2013 98.0% 97.2% +0.8%

February 2013 98.2% 97.7% +0.5%

March 2013 98.9% 98.2% +0.7%

April 2013 99.0% 97.8% +1.2%

May 2013 99.2% 98.4% +0.8%

June 2013 99.3% 98.6% +0.7%

12-Month Avg* 98.6% 97.8% +0.8%

Historical Percent of List Price Received by Month


Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

Pct. of List Price Received

* Pct. of List Price Received of all properties from July 2012 through June 2013. This is not the average of the individual figures above.

Percent Change from

Prior Year

97.6% 98.6% 99.3%

2011 2012 2013

June

96.0%

97.0%

98.0%

99.0%

100.0%

1-2009 1-2010 1-2011 1-2012 1-2013

97.6% 98.2% 98.9%

2011 2012 2013

Year to Date

+ 0.7% + 1.0% + 0.7% + 0.6% - 0.4% - 0.1%


Prior Year

July 2012 85 102 -16.7%

August 2012 91 101 -9.9%

September 2012 92 109 -15.6%

October 2012 107 113 -5.3%

November 2012 97 117 -17.1%

December 2012 101 125 -19.2%

January 2013 101 142 -28.9%

February 2013 118 130 -9.2%

March 2013 82 124 -33.9%

April 2013 81 107 -24.3%

May 2013 73 89 -18.0%

June 2013 72 91 -20.9%

12-Month Avg* 89 108 -17.6%

Historical Days on Market Until Sale by Month


Average number of days between when a property is listed and when an offer is accepted in a given month.

Days on Market

* Average Days on Market for all properties from July 2012 through June 2013. This is not the average of the individual figures above.

Percent Change from

Prior Year

109

91

72

2011 2012 2013

June

60

80

100

120

140

160

1-2009 1-2010 1-2011 1-2012 1-2013

122

107

84

2011 2012 2013

Year to Date

- 21.5% - 16.5% - 20.9% - 12.3% + 4.8% + 11.9%

Housing Affordability Index

Prior Year

July 2012 161 147 +9.5%

August 2012 161 162 -0.6%

September 2012 160 161 -0.6%

October 2012 161 160 +0.6%

November 2012 161 160 +0.6%

December 2012 164 164 0.0%

January 2013 158 168 -6.0%

February 2013 160 166 -3.6%

March 2013 153 156 -1.9%

April 2013 160 154 +3.9%

May 2013 154 162 -4.9%

June 2013 138 161 -14.3%

12-Month Avg 158 158 0.0%

Historical Housing Affordability Index by Month


This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

Affordability Index

Percent Change from

Prior Year

150 161

138

2011 2012 2013

June

130

140

150

160

170

1-2009 1-2010 1-2011 1-2012 1-2013

156 163

143

2011 2012 2013

Year to Date

- 12.3% + 7.3% - 14.3% + 4.5% + 5.6% + 6.8%

Glossary of Terms

New Listings

Pending Sales

Under Contract Activity

Sold Listings

Median Sales Price

Average Sales Price

Percent of List Price Received


Housing Affordability Index

Active Listings

Months Supply of Inventory

A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices.

A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale.

A research tool provided by the Colorado Association of REALTORS®

A measure of how much new supply is coming onto the market from sellers. In other words, a month's New Listings are those listings with a system list date from the first day of the month through the last day of the month.

A count of all the listings that went into Pending during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand.

A count of all listings Under Contract during the reported period. Listings that go Under Contract are counted each day. There is no maximum number of times a listing can be counted as Under Contract. For example, if a listing goes into Under Contract, out of Under Contract, then back into Under Contract all in one reported period, this listing would be counted twice.

A measure of home sales that were closed to completion during the report period.

A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.

A sum of all home sales prices divided by total number of sales.

A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.

A sum of all home sales prices divided by total number of sales.

A measure of how affordable a region’s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.


july 2013 housing report

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