June Market Report

TABLE OF CONTENTS

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

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

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

3127 28 29 30

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13 14 15 16

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201417 18 19

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Th F Sa Wednesday, July 93 4 5

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SINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTESINGLE FAMILY LAFAYETTEREAL ESTATE MARKET REPORT

Robbie Breaux & TeamVan Eaton & Romero

2000 Kaliste Saloom Road, Ste 101

Lafayette, Louisiana 70508

www.RobbieBreaux.com

[email protected]

(337) 267-4099

broknoz

breauxknows

breauxknows

Real Market Reportswww.RealMarketReports.com


at the real estate market. Currently

there are 530 sales pending in the

market overall, leaving 1032 listings

still for sale. The resulting pending

ratio is 33.9% (530 divided by 1,562).

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 in

demand and quickly going to contract.

Alternatively, a low ratio means there

are not enough qualified buyers for the

existing supply.

"Current inventory is described

as mildly active."

Taking a closer look, we notice that

the $150K - $200K price range has a

relatively large number of contracts

pending sale.

We also notice that the $150K - $200K

price range has a relatively large

inventory of properties for sale at 291

listings. The median list price (or

asking price) for all properties in this

market is $215,000.

A total of 2720 contracts have closed

in the last 6 months with a median sold

price of $190,950. Breaking it down,

we notice that the $150K - $200K price

range contains the highest number of

sold listings.

Alternatively, a total of 845 listings

have failed to sell in that same period

of time. Listings may fail to sell for

many reasons such as being priced

too high, having been inadequately

marketed, the property was in poor

condition, or perhaps the owner had

second thoughts about selling at this

particular time. The $150K - $200K

price range has the highest number of

off-market listings at 192 properties.

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Properties For Sale

Contracts Pending

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Sold

Off-Market

Single Family Lafayette

Number of Listings For Sale vs. Pending Contract


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

Let's take a look

1Real Market Reportswww.RealMarketReports.com

Updated 7/9/2014, RealMarketReports.comCopyright © Robbie Breaux & Team


Wednesday, July 9, 2014

Market Dashboard

[email protected]


(337) 267-4099


Looking at the chart to the right, you

might be wondering why average days

on market (DOM) is important. This is

a useful measurement because it can

help us to determine whether we are

in 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 83 days.

Analysis of sold properties for the last

six months reveals a median sold

price of $190,950 and 48 days on

market. Notice that properties in the

$100K - $150K 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 $197,847 with a DOM of 40 days.

Since the recent DOM is less than the

median DOM for the last 6 months, it

is a positive indicator for demand. It is

always important to realize that real

estate 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 to

determine 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 97.9%."

Analysis of the absorption rate

indicates an inventory of 2.3 months

based on the last 6 months of sales.

This estimate is often used to

determine how long it would take to

sell off the current inventory of

properties if all conditions remained

the same. It is significant to mention

that this estimate does not take into

consideration any additional properties

that will come onto the market in the

future.

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Sold

For Sale

$182K$184K$186K$188K$190K$192K$194K$196K$198K$200K

Feb Mar Apr May Jun Jul

0102030405060708090

Feb Mar Apr May Jun Jul


Median Days on Market (DOM)


Median Days on Market (Sold)


Median Sold Prices



Copyright © Robbie Breaux & TeamUpdated 7/9/2014, RealMarketReports.com

Copyright © Robbie Breaux & TeamUpdated 7/9/2014, RealMarketReports.com


Market Dashboard

[email protected]


(337) 267-4099


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) = 01/08/2014 to 07/09/2014

Data believed to be accurate but not guaranteed.

2.3

117

67

26% 35

$250,000 $299,999 92

$300,000 $349,999 50

376,934$ $350,000 $399,999 52

13018

115

51

382,310$

99

273,789$

270,000$

60 328,000$

224,041$ 98%

99%

328,265$

99%

99%

54486

71 224,000$ 170

99%

178,000$

54

227,534$

51

227,850$ 223,250$ 98%

135,000$ 130,000$

86 177,849$ 175,202$

102 79,000$ 49

44771

64 134,900$

72 138

130,588$

93%

79,700$ 75,000$ 94%

75 80,386$ 75,135$

38,674$ 33,860$ 88%

41,000$ 38,000$ 63

115

583 19%

44,900$ 28

MARKET SUMMARY TABLE 530 PENDING [2]

$0 $49,999 13256

113

Pend

Ratio

38,769$

Num

#

Num

#

Num

#

2720 SOLD/CLOSED (last 6 months) [4]

Days

on

Market

Original

List

Price

Final

List

Price

Sold/

Closed

Price

845 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE

(months of inventory)

Days

on

Market

Current

List

Price

A = Average Value

M = Median Value

N/A = Not Available1032 ACTIVE

[1]

List-

Sale

Ratio

Est.

Mos.Low High

Price Range Num

#

93%

$50,000 $99,999 49218 76,178$

12 20%

$100,000 $149,999 99121

48 33% 10596%34

133,207$ 129,319$ 97%

183,900$ $150,000 $199,999 291

154

89

$200,000 $249,999 194121

843175,000$ 98%

225,088$ 137 41%

181,569$ 172 37% 192

2737699 270,055$

3540%

267,500$

120 321,857$ 27

275,574$ 61

72 276,300$

68 316,950$ 324,000$ 99%35%

323,790$

374,272$ 98%

72 375,428$ 54 382,950$ 375,000$ 98%104

$400,000 $449,999 41109 113 437,733$ 431,279$

17 29% 24426,298$ 97%

100 435,200$ 68 437,000$ 425,000$ 97%61

$450,000 $499,999 43116 117 484,464$ 479,032$

9 17% 21469,536$ 97%

80 480,025$ 46 478,716$ 466,000$ 97%28

$500,000 $549,999 23106 77 534,678$ 525,326$

6 21% 13527,312$ 99%

115 523,900$ 36 536,588$ 526,588$ 98%16

$550,000 $599,999 1278 200 591,283$ 576,642$

4 25% 10573,730$ 97%

72 574,950$ 134 584,500$ 575,000$ 98%23

$600,000 $649,999 690 119 647,841$ 618,177$

3 33% 6620,003$ 96%

106 618,750$ 91 648,085$ 617,623$ 95%14

$650,000 $699,999 10153 108 700,840$ 673,801$

2 17% 7675,715$ 96%

114 669,000$ 62 699,500$ 685,000$ 98%13

$700,000 + 57223

168

1,174,808$ 11 16% 44

979,900$ 836,000$ 97%36

251

114

992,750$ 97%1,025,373$

89 226,914$

860,200$

845 2720

Market Averages 139 299,815$

Market Totals 1,032 530 34%

222,206$ 98%

Market Medians 83 215,000$ 48 195,000$

Status = [1] A; [2] C, P; [3] X, W; [4] S

Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P

Property Type = DETACHED SINGLE FAMILY

190,950$ 98%

1.2

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1.3

2.1

2.1

2

2.6

3

2.6

4.6

9.5

4

9.2

8.6

3.1



Market Summary Table

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(337) 267-4099

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 purchase

agreement.

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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4


Glossary

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Real Estate

June Market Report