Watercolor Real Estate
Watercolor Real Estate Statistics
Absorption rate is 8.67 months in January which is a bit high. A typical seller’s market would be 5 months or lower so this should be considered a buyer’s market. Average days on market jumped 139.53% to 412 days compared to last year’s 172 days! Median isn’t any better with a 156.31% increase to last year or 264 days vs. 103 last January. It looks as though inventory is starting to sit longer with more to choose from but let’s see if this remains a trend moving forward.
Average list price was a staggering 32.41% higher than last January at $2,178,129 vs. last year’s $1,644,998 and year-to-date is up 23.71% at $2,062,792 vs. last year’s $1,667,381. Buyer’s aren’t listening as average sale price dropped 35.89% to $963,313 from last year’s average of $1,502,500.
Median list price mirrored that of average to some extent with an upward bump of 24.05% to $1,795,000 from last year’s $1,447,000 year-over-year and year-to-date grew 13.38% to $1,695,000 to last year’s $1,495,000. Median sale price on the other hand diminished by 15.45% to $985,000 vs. last year’s $1,165,000.
Sales volume jumped 33.33% to 8 vs. last year’s 6 closed sales while pending sales were the same as 2014 January with 7 each.
Active listings dropped year-over-year to 73 from 78 and year-to-date to 87 from last year’s 89 for a 2.2% depreciation in total active listings so not much of a difference.
New listings were 12 in January vs. last year’s 11 this time so are up 9.1% for the year.
It looks like about the same amount of sellers are coming to market as last year and buyers are starting to push back on sellers increases in list price but at this point we cannot say it is a trend. With the higher absorption rate this continues to be a buyer’s market.
|Jan-16||Jan-15||% Chg||2016 YTD||2015 YTD||% Chg|
|Average List Price||$2,178,129||$1,644,998||32.41||$2,062,792||$1,667,381||23.71|
|Median List Price||$1,795,000||$1,447,000||24.05||$1,695,000||$1,495,000||13.38|
|Average Sale Price||$963,313||$1,502,500||-35.89||$963,313||$1,502,500||-35.89|
|Median Sale Price||$985,000||$1,165,000||-15.45||$985,000||$1,165,000||-15.45|