Watercolor Real Estate
Watercolor Real Estate Market Stats
Watercolor real estate is strong in the seller’s mind, not so much with buyers for February, 2016,
Absorption rate jumped 13.62% to 9.09 months from 8 months in February, 2016 and for the year is up even more to 15.35% to 8.94 months from 7.75% last year.
Average list price is up 23.58% to $2,117,813 from last February’s price of $1,713,669 and year-to-date has increased 17.42% to $1,995,839 from that of $1,699,685 in 2015. Average sale price DROPPED 10.38% to $1,534,143 from last year’s $1,711,786 and year-to-date fell 23.87% to $1,229,799 from a price of $1,615,192 in 2015. Wow.
Median list price is up 14.97% to $1,724,000 from $1,499,495 in 2015 while year-to-date has jumped 9.91% to $1,647,500 from $1,499,000 last year. Median sale price didn’t track dropping 6.90% to $1,350,000 from last year’s price of $1,450,000 and year-to-date fell 16.04% to $1,225,000 from $1,340,000 in 2015. Sellers are lagging in their pricing and I see price adjustments coming from both current sellers and those coming to market.
Average days on market was a bright spot with a 70.99% drop to 94 days from 324 days for February but up year-to-date 3.94% to 264 days from 254. Median days on market year-over-year also dropped 89.01% to 21 days from last February’s 191 days and year-to-date is up 75.22% to 198 days from last year’s 113 days. February sold faster, not so much for the year thus far.
Other Metrics
Sold listings are dead even at 7 in February and year-to-date are up 15.4% with 15 this February vs. last year’s 13 closed sales.
Pending sales sit at 13 for February 2016 vs. 8 pending sales in 2015 for a 62.8% jump and year-to-date are up 33.3% to 20 vs. last year’s 15.
Active listings were 78 this February vs. 82 in 2015 and year-to-date 100 vs last year’s 102 for a drop of 2%.
New listings are equal for February at 13 while year-to-date they are 25 this year vs. 24 last year so we have about as many sellers coming to market while buyers are pushing back on pricing.
Summary Statistics | ||||||
Feb-16 | Feb-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
Absorption Rate | 9.09 | 8 | 13.62 | 8.94 | 7.75 | 15.35 |
Average List Price | $2,117,813 | $1,713,669 | 23.58 | $1,995,839 | $1,699,685 | 17.42 |
Median List Price | $1,724,000 | $1,499,495 | 14.97 | $1,647,500 | $1,499,000 | 9.91 |
Average Sale Price | $1,534,143 | $1,711,786 | -10.38 | $1,229,700 | $1,615,192 | -23.87 |
Median Sale Price | $1,350,000 | $1,450,000 | -6.90 | $1,125,000 | $1,340,000 | -16.04 |
Average CDOM | 94 | 324 | -70.99 | 264 | 254 | 3.94 |
Median CDOM | 21 | 191 | -89.01 | 198 | 113 | 75.22 |