Maryland Real Estate Market Activity, May 2, 2011, New Listings, Pending Sales, Days on Market

8/7/2019 Maryland Real Estate Market Activity, May 2, 2011, New Listings, Pending Sales, Days on Market

1/13

Monthly IndicatorsA RESEARCH TOOL PROVIDED BYREALESTATE BUSINESS INTELLIGENCE AN MRIS COMPANY

March 2011 Quick Facts- 2.0%

Change inMedian Sales Price

- 5.7%

Change inInventory

- 6.6%

Change inClosed Sales

This month's numbers are stuck in the shadow of the spring 2010 incentive market. Anumber of factors hinder a full-scale housing recovery, yet there are positives thatsuggest improving consumer confidence. Slowing unemployment claims, strongcorporate balance sheets and 13 months of private job growth are cause for long-dormant optimism. Let's see if our local glass is half empty or half full.

New Listin s in the Washin ton D.C. re ion decreased 19.1 ercent fromlast March to New Listings 3Pending Sales 4Closed Sales 5

Days On Market Until Sale 6Median Sales Price 7

Average Sales Price 8Percent of List Price Received 9Housing Affordability Index 10Inventory of Homes for Sale 11Months Supply of Inventory 12

Annual Review 13

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. . .18,496 new homes. Pending Sales increased 2.4 percent to land at 12,452 contractswritten. As a result, inventory levels decreased 5.7 percent from last year to reach54,485 active listings.

Prices lost some ground the March Median Sales Price of $245,000 decreased 2.0

percent. Negotiations moved toward buyers as Percent of Original List Price Received atSale decreased 2.5 percent to 91.9 percent. The market moved toward balance asMonths Supply of Inventory decreased to 6.1 months.

The national interest rate is 5.11 percent on a 30-year fixed; the national unemploymentrate dropped to 8.8 percent in March. Several important changes to the mortgageindustry are on the horizon. Ensuring access to adequate mortgage capital for qualifiedbuyers is key to housing recovery. This will require substantial reforms to Fannie andFreddie.


2/13

Market OverviewKey market metrics for the current month and year-to-date.

Key Metrics Historical Sparklines 3-2010 3-2011 + / YTD 2010 YTD 2011 + /

20,605 - 1.7%

85 102

8,935 8,344

Days on Market Until Sale

- 6.6% 20,954

New Listings

Pending Sales

Closed Sales

- 12.7

12,158 12,452 + 2.4% 27,141 29,245 + 7.8%

44,13322,869 18,496 - 19.1% 50,555

+ 20.2% 85 100 + 17.6

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

159

57,802

189 + 19.1

--

$319,997 $306,592 - 4.2%

$250,000 $245,000Median Sales Price

Average Sales Price

Percent of OriginalList Price Received

$313,317

94.2%

- 4.0%

All data provided by RealEstate Business Intelligence, LLC | An MRIS Company. This report may be reproduced by MRIS members. Data current as of April 11, 2011. Powered by 10K Research and Marketing. | Click for Cover Page | 2

- 2.0% $249,900 $240,000

- 2.5%- 2.5% 94.0% 91.6%

Months Supplyof Homes for Sale

$313,297 - 0.0%

91.9%

Housing Affordability Index

Inventory of Homes for Sale

6.2

186 + 17.0%

- 5.7%

- 1.5%

54,485

6.1

159

--

-- --

--

--

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011

3-2008 3-2009 3-2010 3-2011


3/13

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

MonthPrior Year

Current Year

+ /

April 18,479 24,237 +31.2May 18,291 16,987 -7.1%June 17,665 18,347 +3.9%

July 17,763 17,783 +0.1% August 16,275 16,116 -1.0%September 16,891 16,501 -2.3%October 16,401 14,753 -10.0%November 12,163 11,921 -2.0%December 10,111 10,000 -1.1%January 15,060 12,735 -15.4%February 12,626 12,902 +2.2%March 22,869 18,496 -19.1%

18,394

22,869

18,496

2009 2010 2011

March

48,862 50,555

44,133

2009 2010 2011

Year To Date

-12.7%+24.3% -19.1% +3.5%

12-Month Avg 16,216 15,898 -2.0%


18,394

22,869

18,496

2009 2010 2011

March

9,000

14,000

19,000

24,000

29,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical New Listing Activity

48,862 50,555

44,133

2009 2010 2011

Year To Date

-12.7%+24.3% -19.1% +3.5%


4/13

Pending SalesA count of the properties that have offers accepted on them in a given month.

MonthPrior Year

Current Year

+ /

April 10,948 14,378 +31.3May 10,998 7,836 -28.8%June 10,839 9,064 -16.4%

July 10,598 8,466 -20.1% August 9,977 8,397 -15.8%September 10,112 7,818 -22.7%October 9,966 7,903 -20.7%November 7,169 7,478 +4.3%December 6,117 6,453 +5.5%January 7,644 7,693 +0.6%February 7,339 9,100 +24.0March 12,158 12,452 +2.4%

9,829

12,158 12,452

2009 2010 2011

March

24,63927,141

29,245

2009 2010 2011

Year To Date

+7.8%+23.7% +2.4% +10.2%

12-Month Avg 9,489 8,920 -6.0%


9,829

12,158 12,452

2009 2010 2011

March

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Pending Sales Activity

24,63927,141

29,245

2009 2010 2011

Year To Date

+7.8%+23.7% +2.4% +10.2%


5/13

Closed SalesA count of the properties that have closed in a given month.

MonthPrior Year

Current Year

+ /

April 8,423 10,579 +25.6May 9,326 11,121 +19.2June 11,173 12,508 +11.9%

July 11,093 8,907 -19.7% August 10,114 8,954 -11.5%September 9,801 8,310 -15.2%October 10,130 7,444 -26.5%November 9,832 7,482 -23.9%December 8,404 8,231 -2.1%January 6,109 6,001 -1.8%February 5,910 6,260 +5.9%March 8,935 8,344 -6.6%

7,683

8,9358,344

2009 2010 2011

March

19,07620,954 20,605

2009 2010 2011

Year To Date

-1.7%+16.3% -6.6% +9.8%

12-Month Avg 9,104 8,678 -3.7%


7,683

8,9358,344

2009 2010 2011

March

5,000

7,000

9,000

11,000

13,000

15,000

17,000

19,000

21,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Closed Sales Activity

19,07620,954 20,605

2009 2010 2011

Year To Date

-1.7%+16.3% -6.6% +9.8%


6/13

Days on Market Until SaleThe average number of days between when a property is first listed and when an offer is accepted. Sold properties only.

MonthPrior Year

Current Year

+ /

April 110 78 -29.6%May 108 74 -31.5%June 100 72 -28.0%

July 95 71 -24.9% August 92 76 -17.6%September 91 81 -10.6%October 90 83 -7.7%November 84 85 +1.2%December 85 90 +5.6%January 86 97 +13.5February 86 101 +17.5March 85 102 +20.3

119

85

102

2009 2010 2011

March

122

85100

2009 2010 2011

Year To Date

+17.6%-24.8% +20.2% -24.3%

12-Month Avg 93 83 -11.4%


119

85

102

2009 2010 2011

March

0

20

40

60

80

100

120

140

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Days on Market Until Sale

122

85100

2009 2010 2011

Year To Date

+17.6%-24.8% +20.2% -24.3%


7/13

Median Sales PriceThe median sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

MonthPrior Year

Current Year

+ /

April $252,500 $260,000 +3.0%May $270,000 $268,579 -0.5%June $280,000 $280,000 0.0%

July $280,000 $285,000 +1.8% August $275,000 $280,180 +1.9%September $260,000 $265,000 +1.9%October $255,000 $265,000 +3.9%November $255,000 $267,950 +5.1%December $260,000 $260,000 0.0%January $245,000 $238,045 -2.8%February $250,000 $235,000 -6.0%March $250,000 $245,000 -2.0%

$253,000 $250,000 $245,000

2009 2010 2011

March

$250,000 $249,900 $240,000

2009 2010 2011

Year To Date

-4.0%-1.2% -2.0% -0.0%

12-Month Avg $263,000 $265,000 +0.8%


$253,000 $250,000 $245,000

2009 2010 2011

March

$220,000

$240,000

$260,000

$280,000

$300,000

$320,000

$340,000

$360,000

$380,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Median Sales Price

$250,000 $249,900 $240,000

2009 2010 2011

Year To Date

-4.0%-1.2% -2.0% -0.0%


8/13

Average Sales PriceThe average sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

MonthPrior Year

Current Year

+ /

April $313,259 $323,326 +3.2%May $328,378 $331,196 +0.9%June $346,259 $351,521 +1.5%

July $344,930 $357,274 +3.6% August $339,520 $349,575 +3.0%September $320,558 $327,991 +2.3%October $315,343 $334,543 +6.1%November $313,265 $335,464 +7.1%December $346,290 $336,941 -2.7%January $309,610 $305,225 -1.4%February $340,856 $298,980 -12.3%March $313,317 $313,297 -0.0%

$310,539 $313,317 $313,297

2009 2010 2011

March

$306,338$319,997

$306,592

2009 2010 2011

Year To Date

- 4.2%+ 0.9% - 0.0% + 4.5%

12-Month Avg $328,257 $332,576 +1.3%


$310,539 $313,317 $313,297

2009 2010 2011

March

$260,000

$280,000

$300,000

$320,000

$340,000

$360,000

$380,000

$400,000

$420,000

$440,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Average Sales Price

$306,338$319,997

$306,592

2009 2010 2011

Year To Date

- 4.2%+ 0.9% - 0.0% + 4.5%


9/13

Percent of Original List Price ReceivedThe average percentage found when dividing a property's sales price by the original list price. Sold properties only. Does not account for seller concessions.

MonthPrior Year

Current Year

+ /

April 91.3% 94.7% +3.7%May 92.2% 94.9% +2.9%June 92.9% 94.8% +2.0%

July 93.4% 94.3% +0.9% August 93.8% 93.6% -0.2%September 94.1% 93.0% -1.2%October 94.1% 92.8% -1.4%November 94.4% 92.5% -2.0%December 93.9% 92.0% -2.0%January 93.6% 91.5% -2.3%February 93.9% 91.4% -2.7%March 94.2% 91.9% -2.5%

90.4%94.2% 91.9%

2009 2010 2011

March

90.2%94.0% 91.6%

2009 2010 2011

Year To Date

-2.5%+4.1% -2.5% +4.1%

12-Month Avg 93.5% 93.4% -0.1%


90.4%94.2% 91.9%

2009 2010 2011

March

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

100.0%

102.0%

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Percent of Original List Price Received

90.2%94.0% 91.6%

2009 2010 2011

Year To Date

-2.5%+4.1% -2.5% +4.1%


10/13

Housing Affordability Index

Month Prior Year

Current Year

+ /

April 157 153 -2.5%May 143 149 +4.3%

June 138 147 +6.4%July 139 148 +6.2%

August 145 152 +5.3%September 153 160 +4.5%October 156 161 +3.3%November 159 161 +1.3%December 151 163 +8.0%January 162 190 +17.6February 159 191 +20.5

This index measures housing affordability for the r egion. An index of 120 would mean the median household income was 120% of what's necessaryto qualify for the median priced home under prevailing interest rates. The higher the number, the more affordable our housing is.

156 159

186

March

157 159

189

Year To Date

+19.1%+2.0% +17.0% +1.0%March 159 186 +17.012-Month Avg 152 164 +7.6%


156 159

186

2009 2010 2011

March

90

110

130

150

170

190

210

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Housing Affordability Index

157 159

189

2009 2010 2011

Year To Date

+19.1%+2.0% +17.0% +1.0%


11/13

Inventory of Homes for SaleThe number of properties available for sale in active status at the end of the month.

MonthPrior Year

Current Year

+ /

April 69,099 62,354 -9.8%May 69,408 65,240 -6.0%June 68,732 67,188 -2.2%

July 67,656 68,367 +1.1% August 66,915 69,388 +3.7%September 65,509 68,740 +4.9%October 65,071 68,846 +5.8%November 63,404 66,453 +4.8%December 60,916 62,614 +2.8%January 56,337 57,249 +1.6%February 57,449 55,872 -2.7%March 57,802 54,485 -5.7%

68,713

57,802 54,485

2009 2010 2011

March

-5.7%-15.9%

12-Month Avg 64,025 63,900 -0.2%


68,713

57,802 54,485

2009 2010 2011

March

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Inventory of Homes for Sale

-5.7%-15.9%


12/13

Months Supply of InventoryCompares the number of active listings available to the average monthly pending sales for the last 12 months.

MonthPrior Year

Current Year

+ /

April 8.1 6.6 -19.3%May 8.1 6.7 -17.9%June 8.0 7.1 -11.3%

July 7.7 7.3 -5.7% August 7.6 7.6 -0.4%September 7.4 7.6 +3.2%October 7.2 7.8 +7.8%November 6.9 7.6 +11.4%December 6.6 7.2 +9.6%January 6.1 6.5 +7.8%February 6.2 6.4 +3.8%March 6.2 6.1 -1.5%

8.2

6.2 6.1

2009 2010 2011

March

-1.5%-24.0%

12-Month Avg 7.2 7.0 -1.8%


8.2

6.2 6.1

2009 2010 2011

March

0

2

4

6

8

10

12

1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

Historical Months Supply of Inventory

-1.5%-24.0%


13/13

Annual ReviewHistorical look at key market metrics for the overall region.

142,188

113,11998,539

107,372 104,490

2006 2007 2008 2009 2010

Closed Sales

63

93

114100

80

2006 2007 2008 2009 2010


-20.4% -12.9% +9.0% -2.7% +47.5 +21.9 -12.2% -20.2%


142,188

113,11998,539

107,372 104,490

2006 2007 2008 2009 2010

Closed Sales

63

93

114100

80

2006 2007 2008 2009 2010


$347,000 $339,900 $290,900

$263,000 $265,000

2006 2007 2008 2009 2010

Median Sales Price

96.6% 94.8%92.0% 92.8% 93.8%

2006 2007 2008 2009 2010

Percent of Original List Price Received

-20.4% -12.9% +9.0% -2.7% +47.5 +21.9 -12.2% -20.2%

-2.0% -14.4% -9.6% +0.8% -1.9% -2.9% +0.9% +1.1%

Documents

Maryland Real Estate Market Activity, May 2, 2011, New Listings, Pending Sales, Days on Market