Lafayette Market Report January 2014

TABLE OF CONTENTS

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

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

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

27 2823 24 25 26

16 17 18 19

9 10 11 12

6 7 8

201413 14 15

20 21 22

2 3 4 5

Th F Sa Sunday, February 21

Su M Tu W

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 352 sales pending in the

market overall, leaving 952 listings still

for sale. The resulting pending ratio is

27.0% (352 divided by 1,304). 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 256

listings. The median list price (or

asking price) for all properties in this

market is $219,900.

A total of 1836 contracts have closed

in the last 6 months with a median sold

price of $190,000. Breaking it down,

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

range contains the highest number of

sold listings.

Alternatively, a total of 550 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 129 properties.

0

50

100

150

200

250

300

$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

$550K

$600K

$650K

$700K

Properties For Sale

Contracts Pending

0

100

200

300

400

500

600

700

$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

$550K

$600K

$650K

$700K

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 2/2/2014, RealMarketReports.comCopyright © Robbie Breaux & Team


Sunday, February 2, 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 109 days.

Analysis of sold properties for the last

six months reveals a median sold

price of $190,000 and 42 days on

market. Notice that properties in the

$250K - $300K 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 $196,900 with a DOM of 48 days.

Since the recent DOM is greater than

the median DOM for the last 6 months,

it is a negative 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 97.7%."

Analysis of the absorption rate

indicates an inventory of 3.1 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.

0

20

40

60

80

100

120

140

160

180

$0K

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

$550K

$600K

$650K

$700K

Sold

For Sale

$175K

$180K

$185K

$190K

$195K

$200K

Sep Oct Nov Dec Jan Feb

0

10

20

30

40

50

60

Sep Oct Nov Dec Jan Feb


Median Days on Market (DOM)


Median Days on Market (Sold)


Median Sold Prices



Copyright © Robbie Breaux & TeamUpdated 2/2/2014, RealMarketReports.com

Copyright © Robbie Breaux & TeamUpdated 2/2/2014, 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) = 08/04/2013 to 02/02/2014

Data believed to be accurate but not guaranteed.

3.1

74

35

14% 22

$250,000 $299,999 103

$300,000 $349,999 55

374,964$ $350,000 $399,999 42

1517

101

34

383,632$

65

272,718$

269,900$

40 329,815$

223,399$ 98%

99%

330,305$

99%

98%

38078

101 224,900$ 119

99%

175,700$

48

227,282$

49

225,600$ 221,000$ 98%

134,600$ 130,000$

78 176,939$ 174,603$

158 79,900$ 34

28972

86 135,000$

46 89

131,281$

95%

79,900$ 77,000$ 96%

66 80,180$ 75,780$

41,118$ 35,989$ 88%

42,000$ 38,000$ 39

94

403 14%

36,500$ 24

MARKET SUMMARY TABLE 352 PENDING [2]

$0 $49,999 18208

156

Pend

Ratio

36,128$

Num

#

Num

#

Num

#

1836 SOLD/CLOSED (last 6 months) [4]

Days

on

Market

Original

List

Price

Final

List

Price

Sold/

Closed

Price

550 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 Available952 ACTIVE

[1]

List-

Sale

Ratio

Est.

Mos.Low High

Price Range Num

#

90%

$50,000 $99,999 51193 76,594$

14 22%

$100,000 $149,999 81128

46 36% 7397%34

132,608$ 128,901$ 97%

183,700$ $150,000 $199,999 256

160

113

$200,000 $249,999 177130

590174,000$ 99%

224,896$ 84 32%

180,918$ 97 27% 129

18961125 269,112$

2631%

266,615$

163 325,283$ 26

274,124$ 46

122 272,500$

103 323,000$ 323,500$ 98%32%

323,756$

375,481$ 98%

102 372,200$ 43 385,000$ 380,000$ 99%61

$400,000 $449,999 32123 114 437,356$ 426,190$

12 27% 16426,660$ 98%

76 425,000$ 64 437,500$ 427,215$ 98%38

$450,000 $499,999 29128 87 487,088$ 474,341$

3 9% 14468,412$ 96%

88 478,431$ 48 485,000$ 465,000$ 96%17

$500,000 $549,999 1976 95 533,329$ 525,268$

0 5529,678$ 99%

17 523,920$ 54 533,175$ 533,175$ 100%13

$550,000 $599,999 10192 150 594,200$ 575,290$

2 17% 3572,971$ 96%

118 571,500$ 133 584,050$ 576,500$ 99%14

$600,000 $649,999 532 104 644,523$ 627,852$

2 29% 3617,262$ 96%

12 628,360$ 81 648,085$ 616,000$ 95%12

$650,000 $699,999 9146 94 703,001$ 686,944$

2 18% 3677,867$ 96%

124 687,500$ 30 706,708$ 685,000$ 97%12

$700,000 + 65199

166

1,140,960$ 8 11% 24

899,900$ 825,000$ 92%19

210

47

984,769$ 94%1,052,859$

79 225,239$

899,900$

550 1836

Market Averages 149 304,408$

Market Totals 952 352 27%

220,244$ 98%

Market Medians 109 219,900$ 42 194,500$

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

190,000$ 98%

2.8

3.4

1.7

2.6

2.8

3.3

4.5

4.1

2.5

4.5

20.5

5.1

10.2

8.8

4.3



Market Summary Table

[email protected]


(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.

Real Market Reportswww.RealMarketReports.com

4


Glossary

[email protected]


(337) 267-4099

Real Estate

Lafayette Market Report January 2014