newport/south beach - Martek Real Estate

Transcript

REAL ESTATE MARKET REPORT
NEWPORT/SOUTH BEACH
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Monday, April 4
2016
TABLE OF CONTENTS
Charts and Commentary ………………………………………………..
Market Summary Table
………………………………………………..
Glossary
………………………………………………………………...
Sonja & Steve Lovas
Martek Real Estate
567 North Coast Highway
Newport, Oregon 97365
[email protected]
541-961-3866 - Sonja
541-283-3040 - Steve
https://www.facebook.com/sonjalovas
http://www.linkedin.com/in/sonjalovas
https://twitter.com/sonjalovas
http://www.youtube.com/sonjalovas
Real Market Reports
www.RealMarketReports.com
Pages 1-2
Page 3
Page 4
NEWPORT/SOUTH BEACH
Monday, April 4, 2016
Sonja & Steve Lovas
Martek Real Estate
[email protected]
541-961-3866 - Sonja
Let's take a look
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.
at the real estate market. Currently
there are 31 sales pending in the
market overall, leaving 67 listings still
for sale. The resulting pending ratio is
31.6% (31 divided by 98). So you
might be asking yourself, that's great...
but what exactly does it mean? I'm
glad you asked!
"Current inventory is described
as mildly active."
Taking a closer look, we notice that
the $200K - $300K price range has a
relatively large number of contracts
pending sale.
We also notice that the $200K - $300K
price range has a relatively large
inventory of properties for sale at 22
listings. The average list price (or
asking price) for all properties in this
market is $463,057.
Number of Listings For Sale vs. Pending Contract
Properties For Sale
Contracts Pending
Newport/South Beach
25
Updated on 4/4/2016, www.RealMarketReports.com
Copyright © Sonja & Steve Lovas
20
15
10
5
Num Sold vs. Off-Market (Last 6 mos.)
Sold
Off-Market
Newport/South Beach
40
35
30
25
20
15
10
5
Real Market Reports
1
$1.4M
$1.3M
$1.2M
$1.1M
$1.0M
$900K
$800K
$700K
$600K
$500K
$400K
$300K
$200K
$100K
$0K
0
$1.4M
$1.3M
$1.2M
$1.1M
$1.0M
$900K
$800K
$700K
$600K
$500K
$400K
$300K
$200K
$100K
$0K
0
A total of 74 contracts have closed in
the last 6 months with an average sold
price of $272,868. Breaking it down,
we notice that the $200K - $300K price
range contains the highest number of
sold listings.
Alternatively, a total of 66 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 $200K - $300K price range
has the highest number of off-market
listings at 19 properties.
Market Dashboard
NEWPORT/SOUTH BEACH
Sonja & Steve Lovas
Martek Real Estate
[email protected]
541-961-3866 - Sonja
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 an average of 94 days.
Average Days on Market (DOM)
Sold
For Sale
Newport/South Beach
350
300
250
200
150
Analysis of sold properties for the last
six months reveals an average sold
price of $272,868 and 167 days on
market. Notice that properties in the
$0K - $100K price range have sold
quickest over the last six months.
100
50
The recent history of sales can be
seen in the two charts below. The
average sold price for the last 30 days
was $277,099 with an average DOM
of 188 days.
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.
Average Sold Prices
Nov
$1.4M
$1.3M
$1.2M
$1.1M
$1.0M
Average Days on Market (Sold)
Newport/South Beach
$400K
$350K
$300K
$250K
$200K
$150K
$100K
$50K
$0K
$900K
Analysis of the absorption rate
indicates an inventory of 5.4 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.
"The average list-to-sales ratio
for this area is 95.9%."
Since the recent DOM is greater than
the average 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.
$800K
$700K
$600K
$500K
$400K
$300K
$200K
$100K
$0K
0
Newport/South Beach
200
150
100
50
Dec
Jan
Real Market Reports
Feb
Mar
0
Apr
Nov
2
Dec
Jan
Feb
Mar
Apr
Market Dashboard
NEWPORT/SOUTH BEACH
Sonja & Steve Lovas
Martek Real Estate
[email protected]
541-961-3866 - Sonja
Contracts Pending
For Sale
Price Range
[2]
Off-Market in the Last 6 Months
[1]
[3]
Absorption Rate
Sold in the Last 6 Months
Avg
DOM
Avg
List Price
Total
Num
Pending
Ratio
Total
Num
Total Avg Avg Orig
Num DOM List Price
[4]
Avg
List Price
Avg
Sold Price
List to
Sales
Mos.
Min.
Max.
Total
Num
$0
$99,999
0
-
-
0
-
3
2
84
$ 86,200
$ 63,650
$ 63,500
99.8%
-
$100,000
$199,999
6
97
$ 164,583
7
53.8%
7
14
150
$ 189,114
$ 167,750
$ 158,657
94.6%
2.6
$200,000
$299,999
22
82
$ 257,148
11
33.3%
19
34
177
$ 272,732
$ 259,229
$ 252,203
97.3%
3.9
$300,000
$399,999
12
101
$ 353,650
8
40.0%
8
17
170
$ 371,862
$ 364,985
$ 344,566
94.4%
4.2
$400,000
$499,999
10
56
$ 458,880
2
16.7%
12
5
154
$ 482,580
$ 452,780
$ 426,100
94.1%
12.0
$500,000
$599,999
2
133
$ 561,750
3
60.0%
6
1
237
$ 595,000
$ 545,000
$ 522,000
95.8%
12.0
$600,000
$699,999
4
331
$ 674,250
0
0.0%
2
0
-
-
-
-
-
-
$700,000
$799,999
3
31
$ 783,000
0
0.0%
0
1
218
$ 899,900
$ 749,900
$ 759,000
$800,000
$899,999
3
54
$ 848,667
0
0.0%
3
0
-
-
-
-
-
-
$900,000
$999,999
2
38
$ 974,000
0
0.0%
2
0
-
-
-
-
-
-
$1,000,000 $1,099,999
0
-
-
0
-
0
0
-
-
-
-
-
-
$1,100,000 $1,199,999
0
-
-
0
-
0
0
-
-
-
-
-
-
$1,200,000 $1,299,999
1
30
$1,259,000
0
0.0%
1
0
-
-
-
-
-
-
$1,300,000 $1,399,999
0
-
-
0
-
0
0
-
-
-
-
-
-
$1,400,000
2
102
$1,812,500
0
0.0%
3
0
-
-
-
-
-
-
67
94
$ 463,057
31
31.6%
66
74
167
$ 301,653
$ 284,502
$ 272,868
95.9%
5.4
+
Market Summary >>>
Data believed to be accurate but not guaranteed.
Date Range = 10/05/2015 to 04/04/2016
Status = [1] A; [2] P; [3] E, L, W; [4] C
Property Type = Residential/Site Blt
Major Area = NPSB
Real Market Reports
101.2% 18.0
3
Market Summary Table
NEWPORT/SOUTH BEACH
Sonja & Steve Lovas
Martek Real Estate
[email protected]
541-961-3866 - Sonja
1. PROPERTIES FOR SALE
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase
agreement.
b. Average Days on Market (DOM): The average 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. Average List Price: The average price that a 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 reoffer their property for sale.
4. PROPERTIES SOLD
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
b. Average Days on Market (DOM): The average marketing time it has taken properties to sell in the last 6 months.
c. Average Original List Price: The average price at which a sold property was originally marketed.
d. Average List Price: The average price at which a sold property was marketed just prior to selling.
e. Average Sold Price: The average 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 =
Average Sold Price
Average List Price
5. OTHER
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 Reports
4
Glossary
OriginalListPrice
ListPrice
$369,000 $275,000
$275,000 $225,000
$339,000 $275,900
$327,500 $285,500
$239,000 $275,000
$190,000 $180,000
$275,000 $275,000
$349,000 $315,000
$395,000 $395,000
$340,000 $340,000
$319,000 $309,000
$899,900 $749,900
$205,000 $194,900
$449,900 $429,900
$219,000 $179,900
$410,000 $395,000
$479,000 $449,000
$275,000 $238,000
$110,000 $64,900
$345,000 $329,000
$204,000 $189,900
$345,000 $345,000
$559,000 $475,000
$299,900 $249,900
$245,000 $245,000
$312,500 $312,500
$169,000 $169,000
$178,900 $178,900
$89,500 $80,550
$299,900 $299,900
$395,000 $395,000
$274,900 $274,900
$460,000 $460,000
$114,400 $114,400
$39,500 $39,500
$399,000 $399,000
$279,900 $279,900
$115,000 $115,000
$265,000 $265,000
$275,000 $275,000
$250,000 $250,000
Newport/SouthBeachSoldHomes
January-March2016
SoldDate
Residential
3/30/16
Residential
1/7/16
Residential
1/27/16
Residential
1/22/16
Residential
2/5/16
Residential
2/3/16
Residential
3/14/16
Residential
1/13/16
Residential
1/25/16
Residential
3/11/16
Residential
1/4/16
Residential
2/23/16
Manufactured 3/15/16
Residential
1/29/16
Residential
2/23/16
Residential
1/11/16
Residential
2/11/16
Residential
3/17/16
Residential
1/15/16
Residential
2/5/16
Residential
3/29/16
Residential
2/12/16
Residential
3/22/16
Residential
3/16/16
Residential
3/16/16
Residential
3/25/16
Residential
3/21/16
Residential
2/4/16
Residential
3/1/16
Residential
1/15/16
Residential
1/12/16
Residential
3/25/16
Residential
3/18/16
Residential
3/11/16
Residential
3/21/16
Residential
3/7/16
SoldPrice
$275,000
$200,000
$270,000
$240,000
$253,000
$167,500
$273,132
$280,000
$384,500
$321,000
$300,000
$759,000
$188,500
$412,500
$176,900
$350,000
$420,000
$225,000
$57,500
$321,000
$189,900
$325,000
$425,000
$248,521
$245,000
$310,625
$165,000
$178,900
$76,400
$290,000
$385,000
$293,944
$443,000
$110,000
$32,000
$394,500
$279,900
$115,500
$265,000
$275,000
$250,000
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
HouseOn
StreetName
SE View
SE 5th
NE 115TH
SCENICLOOP
SE 145th
SW 12TH
SE Fleming
SW Surfland
SE 5th
NE Lakewood
NW OCEANVIEW
SW ARBOR
SEAshStreet
NW 54th
NW 16TH
SE1stStreet
YaquinaView
14TH
19th
Iler
Iler
43rd(Lot38)
HIGH
HURBERT
GOLFCOURSE
LAKEWOOD
BENTON
SanBay-OCircle
73rd
61ST
Surfland
1ST
RunningSprings
Douglas
116TH
130th
20TH
73RD
Crestview
Cottage
COTTAGE
SE
NW
NW
NE
NE
SE
NW
NW
NE
NE
NE
NE
NE
SW
SW
SE
SE
NE
SE
SE
NE
NE
NE
NW
NW
SqFt. YrBuilt Style
#ofAcres Bed Bath
Drive 3272 1987 Ranch
0.12 3
2
St
2817 1956 Tradition.
0.48 4
3
ST
1016 2007 Craftsman
0.16 2 1.5
0.22 3 2.5
Dr
2184 1979
2
0.56 3
3
ST
0.12 2 1.5
ST
1350
0 Cottage
0 2
2
St
1208 1960 Cabin
0.51 2
2
St
0.28 3 2.5
DR
0.24 4 2.5
DR
0.24 3 2.5
Sr
3902 1995 CapeCod
0.35 4 4.5
1242 1990 Manufact.
0.56 3
2
Ct
2471 1989 Contemp.
0.25 3
3
ST
1008 1952 Ranch
0.12 3
1
0.21 4
2
Drive 3000 1990 Tradition.
0.38 4 2.5
ST
1684 1984 1-Level
0.16 3 2.5
St
0.25 3
2
ST
0.22 4
4
St
1471 1979 Contemp.
0.2 3
2
ST
2007 2010 Craftsman
0.17 3 2.5
ST
0.36 4 2.5
ST
2272 1954 Contemp.
0.15 3
2
DR
0.47 3
2
DR
0.25 3
2
ST
0.13 3
2
0.18 3
2
1175 1995 Manufact.
0.11 3
2
1387 2015 CapeCod
0.12 3
2
1460 1962 Contemp.
0.55 3 1.5
0.22 4
3
2394 2003 Contemp.
0.38 3
3
1776 1979 Manufact.
0.15 2
2
684 1967 Manufact.
0.21 1
1
2336 1995 Craftsman
0.85 3 2.5
1763 1972 Ranch
0.21 3
2
1188 1997 Manufact.
0.11 3
2
0.27 4 1.5
1578 1930 CapeCod
0.2 4
2
0.1 3
2
St
ST
ST
ST
Ct
St
ST
St
PL
ST
Pl
St
ST
Taxes
$6,067.42
$6,601.00
$1,835.32
$4,054.44
$2,838.42
$2,523.15
$644.32
$3,528.00
$6,365.35
$5,104.48
$4,092.67
$17,867.46
$1,512.63
$7,903.42
$2,083.76
$6,167.64
$4,460.05
$2,972.42
$2,576.29
$4,982.93
$3,237.97
$4,503.95
$3,804.66
$4,446.38
$4,143.14
$4,267.74
$2,092.58
$2,740.58
$1,854.23
$1,118.20
$3,845.10
$6,616.71
$6,523.44
$1,758.30
$649.24
$4,798.69
$4,171.63
$2,304.91
$3,921.00
$3,193.00
$3,485.72
View
DOM
Bay
1086
Bay
441
None
279
None
247
Ocean
235
Bridge
242
None
282
Ocean
219
Bay
225
Ocean
250
Ocean
173
Slough
218
Forest
235
Ocean
171
None
194
Bay
146
Bay
171
None
190
None
123
None
131
None
122
None
136
Ocean
169
Ocean
154
GolfCourse 113
Ocean
147
None
98
None
87
None
142
None
77
Ocean
99
Ocean
52
Bay
48
None
30
None
83
Forest
80
None
60
None
59
None
39
Ocean
36
None
0

newport/south beach - Martek Real Estate

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