Weekly Market Activity Report

Transcription

1 Weekly Market Report For Week Ending 30, 2019 Data current as of April 8, 2019 The national unemployment rate held firm at 3.8 percent for the second month in a row, which is good news for an economy that has shown signs of slowing down during the first three months of Hiring and wage gains have both been below expectations, retail sales dropped considerably to close 2018, and there have been fewer home sales across the nation. Maintaining a historically low unemployment rate is reassuring and may offer confidence to many wary and weary consumers. In the Chattanooga region, for the week ending 30: New Listings increased 25.3% to 302 Pending Sales increased 32.1% to 284 Inventory decreased 1.2% to 2,542 For the month of : Median Sales Price increased 0.7% to $190,000 Days on Market remained flat at 54 Percent of Original List Price Received decreased 0.3% to 96.1% s Supply of Inventory decreased 6.5% to 2.9 Quick Facts % % Change in New Listings Metrics by Week New Listings 2 Pending Sales 3 Inventory of Homes for Sale 4 Metrics by Change in Pending Sales - 1.2% Change in Inventory Days on Market Until Sale 5 Median Sales Price 6 Percent of Original List Price Received 7 Percent of Last List Price Received 8 Housing Affordability Index 9 s Supply of Inventory 10 Click on desired metric to jump to that page. All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime.

2 New Listings A count of the properties that have been newly listed on the market in a given week. Last Three s Ago /5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 3/16/19 3/23/19 3/30/19 For the Week Ending Ago 1/5/ % 1/12/ % 1/19/ % 1/26/ % 2/2/ % 2/9/ % 2/16/ % 2/23/ % 3/2/ % 3/9/ % 3/16/ % 3/23/ % 3/30/ % 3- Total 3,388 3, % Historical New Listing All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 2

3 Pending Sales A count of the properties that have offers accepted on them in a given week. Last Three s Ago /5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 3/16/19 3/23/19 3/30/19 For the Week Ending Ago 1/5/ % 1/12/ % 1/19/ % 1/26/ % 2/2/ % 2/9/ % 2/16/ % 2/23/ % 3/2/ % 3/9/ % 3/16/ % 3/23/ % 3/30/ % 3- Total 2,706 2, % Historical Pending Sales All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 3

4 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given week. Last Three s Ago 2,800 2,750 2,700 2,650 2,600 2,550 2,500 1/5/19 1/12/19 1/19/19 1/26/19 2/2/19 2/9/19 2/16/19 2/23/19 3/2/19 3/9/19 3/16/19 3/23/19 3/30/19 For the Week Ending Ago 1/5/2019 2,766 2, % 1/12/2019 2,778 2, % 1/19/2019 2,781 2, % 1/26/2019 2,786 2, % 2/2/2019 2,783 2, % 2/9/2019 2,736 2, % 2/16/2019 2,718 2, % 2/23/2019 2,702 2, % 3/2/2019 2,638 2, % 3/9/2019 2,597 2, % 3/16/2019 2,563 2, % 3/23/2019 2,585 2, % 3/30/2019 2,542 2, % 3- Avg 2,690 2, % Historical Inventory 7,000 6,000 5,000 4,000 3,000 2,000 All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 4

5 Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month % 0.0% April % May % June % July % August % September % October % November % December % January % February % % 12- Avg % Historical Days on Market Until Sale All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 5

6 Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month. $188,650 $190,000 $173, % + 0.7% April 2018 $178,500 $173, % May 2018 $185,000 $177, % June 2018 $200,000 $180, % July 2018 $186,500 $183, % August 2018 $187,000 $177, % September 2018 $188,750 $179, % October 2018 $184,000 $176, % November 2018 $190,000 $178, % December 2018 $194,900 $179, % January 2019 $180,000 $178, % February 2019 $182,000 $175, % 2019 $190,000 $188, % 12- Avg $187,900 $179, % Historical Median Sales Price $230,000 $210,000 $190,000 $170,000 $150,000 $130,000 $110,000 All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 6

7 Percent of Original List Price Received Percentage found when dividing a property s sales price by it's original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 95.3% 96.4% 96.1% + 1.2% -0.3% April % 95.8% + 0.6% May % 96.2% + 0.4% June % 96.2% + 0.1% July % 95.5% + 1.0% August % 96.2% + 0.1% September % 95.9% + 0.1% October % 95.8% - 0.4% November % 95.1% + 0.3% December % 95.0% + 0.2% January % 95.0% - 1.4% February % 95.2% + 0.3% % 96.4% - 0.3% 12- Avg 95.9% 95.8% + 0.1% Historical Percent of Original List Price Received 98% 97% 96% 95% 94% 93% 92% 91% 90% 89% 88% 87% All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 7

8 Percent of Last List Price Received Percentage found when dividing a property s sales price by it's last list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 97.4% 97.7% 97.6% 0.0% -0.1% April % 97.5% + 0.2% May % 97.6% + 0.2% June % 97.7% - 0.1% July % 97.2% + 0.7% August % 97.8% - 0.2% September % 97.7% - 0.1% October % 97.5% 0.0% November % 97.1% + 0.3% December % 97.1% + 0.1% January % 96.7% - 0.3% February % 96.9% + 0.3% % 97.7% - 0.1% 12- Avg 97.5% 97.4% + 0.1% Historical Percent of Last List Price Received 98.0% 97.5% 97.0% 96.5% 96.0% 95.5% 95.0% 94.5% 94.0% 93.5% 93.0% All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 8

9 Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability % + 1.4% April % May % June % July % August % September % October % November % December % January % February % % 12- Avg % Historical Housing Affordability Index All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 9

10 s Supply of Inventory 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 % -6.5% April % May % June % July % August % September % October % November % December % January % February % % 12- Avg % Historical s Supply of Inventory All data from Greater Chattanooga REALTORS. Report 2019 ShowingTime. 10