Georgia Association of Realtors Stats for December 2013
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December 2013 Activity Snapshot One-Year Change in One-Year Change in Closed Sales Median Sales Price 2 3 4 5 6 7 8 9 10 11 12 Click on desired metric to jump to that page. Changes in methodology were implemented in October 2012 to provide a more accurate count of inventory and related metrics. Due to MLS purging rules, activity before 2008 cannot be updated and therefore shifts in the trendlines may occur. Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year. New Listings increased 8.3 percent to 7,143. Pending Sales were up 16.9 percent to 6,237. Inventory levels shrank 4.2 percent to 37,803 units. Prices marched higher. The Median Sales Price increased 24.8 percent to $149,900. Days on Market was down 14.7 percent to 81 days. Absorption rates improved as Months Supply of Inventory was down 5.5 percent to 5.2 months. Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve's long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It's no wonder that buyers were active in 2013. Here's to more of the same in 2014. Homes for Sale A research tool provided by the Georgia Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures. Activity Overview New Listings Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory Monthly Indicators + 3.7% + 24.8% - 4.2% One-Year Change in
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Transcript of Georgia Association of Realtors Stats for December 2013
December 2013 Activity Snapshot
One-Year Change in One-Year Change inClosed Sales Median Sales Price
23456789
101112
Click on desired metric to jump to that page.
Changes in methodology were implemented in October 2012 to provide a more accurate count of inventory and related metrics. Due to MLS purging rules, activity before 2008 cannot be updated and therefore shifts in the trendlines may occur. Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing.
Pending SalesClosed SalesDays on Market Until SaleMedian Sales PriceAverage Sales PricePercent of Original List Price Received
In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year.
New Listings increased 8.3 percent to 7,143. Pending Sales were up 16.9 percent to 6,237. Inventory levels shrank 4.2 percent to 37,803 units.
Prices marched higher. The Median Sales Price increased 24.8 percent to $149,900. Days on Market was down 14.7 percent to 81 days. Absorption rates improved as Months Supply of Inventory was down 5.5 percent to 5.2 months.
Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve's long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It's no wonder that buyers were active in 2013. Here's to more of the same in 2014.
Homes for Sale
A research tool provided by the Georgia Association of REALTORS®. Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.
Activity OverviewNew Listings
Housing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory
Monthly Indicators
+ 3.7% + 24.8% - 4.2%One-Year Change in
Activity Overview
Key Metrics Historical Sparkbars 12-2012 12-2013 Percent Change YTD 2012 YTD 2013 Percent Change
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
+ 2.8%
Affordability Index 309 235 - 23.9% 334 244 - 26.9%
Pct. of Orig. Price Received 93.8% 93.9% + 0.1% 92.3% 94.9%
--
-- --
Inventory of Homes for Sale 39,469 37,803 - 4.2% -- --
Months Supply of Inventory 5.5 5.2 - 5.5% --
+ 32.3%
Average Sales Price $164,534 $194,093 + 18.0% $149,668 $184,383 + 23.2%
Median Sales Price $120,100 $149,900 + 24.8% $108,100 $143,000
- 2.3%
Days on Market Until Sale 95 81 - 14.7% 94 78 - 17.0%
Closed Sales 6,265 6,497 + 3.7% 86,091 84,120
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
New Listings 6,596 7,143 + 8.3% 131,490 + 2.1%
Pending Sales 5,336 6,237 + 16.9% 85,553 86,723 + 1.4%
128,792
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
12-2010 12-2011 12-2012 12-2013
New Listings
Prior Year Percent Change
January 2013 10,919 11,799 -7.5%
February 2013 10,323 11,565 -10.7%
March 2013 12,390 13,239 -6.4%
April 2013 12,322 12,879 -4.3%
May 2013 12,518 11,928 +4.9%
June 2013 11,826 11,560 +2.3%
July 2013 11,945 10,849 +10.1%
August 2013 11,315 10,934 +3.5%
September 2013 10,534 9,317 +13.1%
October 2013 11,176 10,183 +9.8%
November 2013 9,079 7,943 +14.3%
December 2013 7,143 6,596 +8.3%
12-Month Avg 10,958 10,733 +2.1%
Historical New Listings by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
A count of the properties that have been newly listed on the market in a given month.
New Listings
8,484
6,596 7,143
2011 2012 2013
December
5,000
10,000
15,000
20,000
25,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
146,200
128,792 131,490
2011 2012 2013
Year to Date
+ 2.1% - 22.3% + 8.3% - 11.9% - 22.8% - 11.3%
Pending Sales
Prior Year Percent Change
January 2013 6,478 6,668 -2.8%
February 2013 6,551 7,356 -10.9%
March 2013 7,596 8,128 -6.5%
April 2013 8,373 7,944 +5.4%
May 2013 8,219 8,233 -0.2%
June 2013 7,848 7,966 -1.5%
July 2013 7,666 7,490 +2.3%
August 2013 7,579 7,468 +1.5%
September 2013 6,581 5,848 +12.5%
October 2013 7,261 7,007 +3.6%
November 2013 6,334 6,109 +3.7%
December 2013 6,237 5,336 +16.9%
12-Month Avg 7,227 7,129 +1.4%
Historical Pending Sales by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
A count of the properties on which offers have been accepted in a given month.
Pending Sales
5,659 5,336
6,237
2011 2012 2013
December
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
81,570 85,553 86,723
2011 2012 2013
Year to Date
+ 1.4% - 5.7% + 16.9% + 4.9% + 21.2% + 12.6%
Closed Sales
Prior Year Percent Change
January 2013 5,288 5,444 -2.9%
February 2013 5,669 6,129 -7.5%
March 2013 6,961 7,595 -8.3%
April 2013 7,144 7,183 -0.5%
May 2013 8,479 7,982 +6.2%
June 2013 8,046 8,457 -4.9%
July 2013 8,316 8,081 +2.9%
August 2013 8,020 8,412 -4.7%
September 2013 6,690 6,701 -0.2%
October 2013 6,900 7,287 -5.3%
November 2013 6,110 6,555 -6.8%
December 2013 6,497 6,265 +3.7%
12-Month Avg 7,010 7,174 -2.3%
Historical Closed Sales by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
A count of the actual sales that closed in a given month.
Closed Sales
6,720 6,265 6,497
2011 2012 2013
December
4,000
6,000
8,000
10,000
12,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
79,713 86,091 84,120
2011 2012 2013
Year to Date
- 2.3% - 6.8% + 3.7% + 8.0% + 17.1% + 9.7%
Days on Market Until Sale
Prior Year Percent Change
January 2013 89 101 -11.9%
February 2013 87 102 -14.7%
March 2013 86 100 -14.0%
April 2013 81 96 -15.6%
May 2013 77 91 -15.4%
June 2013 75 89 -15.7%
July 2013 72 90 -20.0%
August 2013 73 92 -20.7%
September 2013 71 90 -21.1%
October 2013 76 96 -20.8%
November 2013 76 93 -18.3%
December 2013 81 95 -14.7%
12-Month Avg* 78 94 -17.0%
Historical Days on Market Until Sale by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
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 of all properties from January 2013 through December 2013. This is not the average of the individual figures above.
105 95
81
2011 2012 2013
December
70
80
90
100
110
120
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
104 94
78
2011 2012 2013
Year to Date
- 17.0% - 9.5% - 14.7% - 9.6% + 2.9% + 6.1%
Median Sales Price
Prior Year Percent Change
January 2013 $112,000 $87,000 +28.7%
February 2013 $119,000 $86,500 +37.6%
March 2013 $132,500 $98,080 +35.1%
April 2013 $137,813 $105,000 +31.3%
May 2013 $147,500 $109,100 +35.2%
June 2013 $155,000 $114,000 +36.0%
July 2013 $159,900 $116,000 +37.8%
August 2013 $153,500 $112,550 +36.4%
September 2013 $145,000 $112,500 +28.9%
October 2013 $146,638 $110,000 +33.3%
November 2013 $143,000 $116,000 +23.3%
December 2013 $149,900 $120,100 +24.8%
12-Month Med* $143,000 $108,100 +32.3%
Historical Median Sales Price by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
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
* Median Sales Price of all properties from January 2013 through December 2013. This is not the average of the individual figures above.
$95,500
$120,100
$149,900
2011 2012 2013
December
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
$102,500 $108,100
$143,000
2011 2012 2013
Year to Date
+ 32.3% + 25.8% + 24.8% + 5.5% - 17.0% - 13.1%
Average Sales Price
Prior Year Percent Change
January 2013 $149,488 $126,246 +18.4%
February 2013 $157,481 $127,278 +23.7%
March 2013 $171,716 $138,988 +23.5%
April 2013 $178,700 $147,373 +21.3%
May 2013 $191,615 $152,407 +25.7%
June 2013 $200,041 $158,895 +25.9%
July 2013 $200,062 $159,798 +25.2%
August 2013 $196,222 $151,920 +29.2%
September 2013 $184,661 $152,671 +21.0%
October 2013 $185,650 $151,839 +22.3%
November 2013 $180,857 $154,535 +17.0%
December 2013 $194,093 $164,534 +18.0%
12-Month Avg* $184,383 $149,668 +23.2%
Historical Average Sales Price by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
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 January 2013 through December 2013. This is not the average of the individual figures above.
$137,174
$164,534
$194,093
2011 2012 2013
December
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
$144,657 $149,668
$184,383
2011 2012 2013
Year to Date
+ 23.2% + 19.9% + 18.0% + 3.5% - 12.9% - 6.6%
Percent of Original List Price Received
Prior Year Percent Change
January 2013 93.4% 89.3% +4.6%
February 2013 94.3% 89.0% +6.0%
March 2013 94.7% 90.3% +4.9%
April 2013 95.2% 91.5% +4.0%
May 2013 95.6% 92.5% +3.4%
June 2013 95.5% 92.9% +2.8%
July 2013 95.5% 93.1% +2.6%
August 2013 95.5% 93.2% +2.5%
September 2013 94.9% 93.3% +1.7%
October 2013 94.5% 93.7% +0.9%
November 2013 94.2% 93.8% +0.4%
December 2013 93.9% 93.8% +0.1%
12-Month Avg* 94.9% 92.3% +2.8%
Historical Percent of Original List Price Received by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties soldin a given month, not accounting for seller concessions.
Pct. of Orig. Price Received
* Average Pct. of Orig. Price Received for all properties from January 2013 through December 2013. This is not the average of the individual figures above.
89.1% 93.8% 93.9%
2011 2012 2013
December
84%
86%
88%
90%
92%
94%
96%
98%
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
88.7% 92.3% 94.9%
2011 2012 2013
Year to Date
+ 2.8% + 5.3% + 0.1% + 4.1% + 1.7% - 1.2%
Housing Affordability Index
Prior Year Percent Change
January 2013 315 368 -14.4%
February 2013 295 372 -20.7%
March 2013 272 338 -19.5%
April 2013 268 326 -17.8%
May 2013 246 320 -23.1%
June 2013 224 312 -28.2%
July 2013 220 311 -29.3%
August 2013 225 317 -29.0%
September 2013 239 322 -25.8%
October 2013 237 326 -27.3%
November 2013 254 315 -19.4%
December 2013 235 309 -23.9%
12-Month Avg 253 253 0.0%
Historical Housing Affordability Index by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
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
339 309
235
2011 2012 2013
December
100
150
200
250
300
350
400
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
322 334
244
2011 2012 2013
Year to Date
- 26.9% - 8.8% - 23.9% + 3.7% + 15.7% + 12.2%
Inventory of Homes for Sale
Prior Year Percent Change
January 2013 38,518 50,916 -24.3%
February 2013 39,017 50,368 -22.5%
March 2013 40,258 50,497 -20.3%
April 2013 40,707 51,024 -20.2%
May 2013 41,534 50,388 -17.6%
June 2013 42,378 49,154 -13.8%
July 2013 42,826 47,835 -10.5%
August 2013 42,608 46,176 -7.7%
September 2013 42,697 45,053 -5.2%
October 2013 42,276 44,333 -4.6%
November 2013 41,009 42,039 -2.5%
December 2013 37,803 39,469 -4.2%
12-Month Avg 40,969 47,271 -13.3%
Historical Inventory of Homes for Sale by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
The number of properties available for sale in active status at the end of a given month.
Homes for Sale
* Homes for Sale for all properties from January 2013 through December 2013. This is not the average of the individual figures above.
50,887
39,469 37,803
2011 2012 2013
December
20,000
40,000
60,000
80,000
100,000
120,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
- 22.4% - 4.2% - 20.6%
Months Supply of Inventory
Prior Year Percent Change
January 2013 5.4 7.4 -27.0%
February 2013 5.5 7.2 -23.6%
March 2013 5.7 7.2 -20.8%
April 2013 5.8 7.2 -19.4%
May 2013 5.9 7.0 -15.7%
June 2013 6.0 6.9 -13.0%
July 2013 6.1 6.6 -7.6%
August 2013 6.0 6.4 -6.3%
September 2013 6.0 6.4 -6.3%
October 2013 5.9 6.2 -4.8%
November 2013 5.7 5.9 -3.4%
December 2013 5.2 5.5 -5.5%
12-Month Avg 5.8 6.7 -13.4%
Historical Months Supply of Inventory by Month
Current as of January 16, 2014. Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Months Supply
* Months Supply for all properties from January 2013 through December 2013. This is not the average of the individual figures above.
7.5
5.5 5.2
2011 2012 2013
December
2.5
5.0
7.5
10.0
12.5
15.0
17.5
20.0
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012 1-2013
- 26.7% - 5.5% - 29.2%
