Housing Market Data December 2008

Transcription

1 Housing Market Data December 2008 Prepared by: The North Shore Barrington Association of REALTORS Look Inside: - market quickdata (3-4) - active listings (5-10) - absorption rates (11) - supply and demand (12) - new construction (13-14) - market data time (15) - mortgage rate history (16) - cook county sales data (17-21) - lake county sales data (22-26) - detached home sales (27-30) - condo sales (31-34) - glossary of terms (35-36)

2 Legal Legal Information The following representations are based in whole or in part on data supplied by various participants in the Midwest Real Estate Data, LLC (MRED) for the period 9/06 thru 12/08. Neither North Shore Barrington Association of Realtors (NSBAR) nor the Midwest Real Estate Data LLC guarantees, nor is in any way responsible for its accuracy. Data maintained by the Midwest Real Estate Data, LLC may not reflect all real estate activity in the market. Produced by NSBAR from information in MRED

3 North Shore Quick Data New&BOMK Closed Category Pending New Contracts Off-Market Price Changes Amount of Listings

4 Barrington Quick Data New&BOMK Closed Category Pending New Contracts Off-Market Price Changes Amount of Listings

5 MRED Active Listngs All Property Types MRED Amount of Listings /19/2008 9/26/ /3/ /10/ /17/ /24/ /31/ /7/ /14/ /21/ /28/ /5/ /12/ /19/ /26/2008 Dates The next six tables show active listings for all MLSNI and for NSBAR for the last fifteen weeks. The NSBAR actives are broken down between North Shore and Barrington.

6 NSBAR Actives All Property Types /19/2008 9/26/ /3/ /10/ /17/ /24/ /31/ /7/ /14/ /21/ /28/ /5/ /12/ /19/ /26/2008 Dates NSH BAR Amount of Listings

7 /26/ /12/ /19/ /5/ MRED Single Family Homes Active Listings /17/ /24/ /31/ /7/ /14/ /21/ /28/ /10/ /3/ /26/ /19/ Dates Amount of Listings

8 NSBAR Single Family Homes Active Listings /26/ /3/ /10/ /17/ /24/ /31/ /7/ /14/ /21/ /28/ /5/ /12/ /19/ /26/ /19/ Dates NSH BAR Amount of Listings

9 /26/ /12/ /19/ /5/ /28/ MRED Active Condo Listings /24/ /31/ /7/ /14/ /21/ /17/ /10/ /3/ /26/ /19/ Dates MRED Amount of Listings

10 NSBAR Condos Active Listings /26/ /3/ /10/ /17/ /24/ /31/ /7/ /14/ /21/ /28/ /5/ /12/ /19/ /26/ /19/ Dates NSH BAR Amount of Listings

11 NSBAR Absorption Rate Weeks to Sell Current Inventory Barrington North Shore 50 0 Oct 2007 Nov 2007 Dec 2007 Jan 2008 Feb 2008 Mar 2008 Apr 2008 May 2008 Jun 2008 Jul 2008 Aug 2008 Sep 2008 Oct 2008 Nov 2008 Dec 2008 Time Period This table shows the number of weeks inventory that exists in the NSBAR market area by month for the past 15 months broken out between North Shore and Barrington. Produced by NSBAR from information in MRED

12 NSBAR Supply Demand Ratio for Single Family Homes Barrington North Shore Supply/Demand Ratio Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Dates The numbers in the chart represent the ratio of the number of homes for sale to the number of homes sold. Produced by NSBAR from information in MRED

13 North Shore New Construction Amount of Listings FS # UC # New # Sold # Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 FS # UC # New # Sold # May- 08 Dates Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Produced by NSBAR from information in MRED

14 Barrington New Construction Amount of Listings FS # UC # New # Sold # 20 0 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May- 08 May- 08 Dates Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 FS # UC # New # Sold # These two charts show, for the past fifteen months th number of new units on the market for North Shore and Barrington respectively. Produced by NSBAR from information in MRED

15 NSBAR Market Time Amount of Daays NSH DOM BAR DOM Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Months The graph shows the days on the market for both North Shore and Barrington for the past fifteen months. Produced by NSBAR from information in MRED

16 Mortgage Rate Trends 30 year FRM 15 year FRM 1 year ARM Interest Rate /28/2007 1/11/2008 1/25/2008 2/8/2008 2/22/2008 3/7/2008 3/21/2008 4/4/2008 4/18/2008 5/2/2008 5/16/2008 5/30/2008 6/13/2008 6/27/2008 7/11/2008 7/25/2008 8/8/2008 8/22/2008 9/5/2008 9/19/ /3/ /17/ /31/ /14/ /28/ /12/ /26/2008 Weekending This graph lays out the rates on thirty- and fifteen-year fixed rate mortgages and one-year ARMS for the past year. Produced by NSBAR from information in MRED

17 Cook County - # HOUSES SOLD BY MONTH 3,500 3,000 2,500 # SOLD 2,000 1,500 1, AVG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

18 Cook County - AVERAGE LIST PRICE BY MONTH 450, , , , , , , AVG 100,000 50,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

19 Cook County - AVERAGE SALE PRICE BY MONTH 450, , , , , , , AVG 100,000 50,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

20 Cook County - AVERAGE TIME ON MARKET BY MONTH AVG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

21 Cook County - Statistics as of 01/06/2009 Prepared by: North Shore - Barrington Association of REALTORS Property Type: Detached Single Family # HOUSES AVERAGE LIST AVERAGE SALE AVERAGE TIME SOLD YTD PRICE PRICE ON MARKET AVG AVG AVG AVG Jan 2,006 1,578 1,074 1, , , , , , , , , Feb 1,840 1,497 1,061 1, , , , , , , , , Mar 2,808 2,049 1,433 2, , , , , , , , , Apr 2,788 2,076 1,611 2, , , , , , , , , May 3,282 2,408 1,751 2, , , , , , , , , Jun 3,360 2,564 1,980 2, , , , , , , , , Jul 2,853 2,374 1,931 2, , , , , , , , , Aug 3,242 2,452 1,888 2, , , , , , , , , Sep 2,467 1,692 1,862 2, , , , , , , , , Oct 2,332 1,764 1,722 1, , , , , , , , , Nov 2,057 1,531 1,309 1, , , , , , , , , Dec 1,973 1,320 1,345 1, , , , , , , , , TOTAL 31,008 23,305 18, , , , , , , , , MEDIAN LIST PRICE MEDIAN SALE PRICE AVG AVG Jan 254, , , , , , , ,333 Feb 262, , , , , , , ,500 Mar 269, , , , , , , ,333 Apr 289, , , , , , , ,333 May 267, , , , , , , ,383 Jun 307, , , , , , , ,667 Jul 289, , , , , , , ,333 Aug 272, , , , , , , ,567 Sep 269, , , , , , , ,000 Oct 272, , , , , , , ,000 Nov 274, , , , , , , ,333 Dec 258, , , , , , , ,000 TOTAL 273, , , , , , , ,399

22 Lake County - # HOUSES SOLD BY MONTH 1,200 1, # SOLD AVG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

23 Lake County - AVERAGE LIST PRICE BY MONTH 600, , , , , AVG 100,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

24 Lake County - AVERAGE SALE PRICE BY MONTH 600, , , , , AVG 100,000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

25 Lake County - AVERAGE TIME ON MARKET BY MONTH AVG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

26 Lake County - Statistics as of 01/06/2009 Prepared by: North Shore - Barrington Association of REALTORS Property Type: Detached Single Family # HOUSES AVERAGE LIST AVERAGE SALE AVERAGE TIME SOLD YTD PRICE PRICE ON MARKET AVG AVG AVG AVG Jan , , , , , , , , Feb , , , , , , , , Mar , , , , , , , , Apr , , , , , , , , May , , , , , , , , Jun 1, , , , , , , , , Jul , , , , , , , , Aug , , , , , , , , Sep , , , , , , , , Oct , , , , , , , , Nov , , , , , , , , Dec , , , , , , , , TOTAL 7,720 6,001 4, , , , , , , , , MEDIAN LIST PRICE MEDIAN SALE PRICE AVG AVG Jan 289, , , , , , , ,167 Feb 239, , , , , , , ,958 Mar 284, , , , , , , ,958 Apr 287, , , , , , , ,833 May 298, , , , , , , ,667 Jun 326, , , , , , , ,250 Jul 302, , , , , , , ,817 Aug 310, , , , , , , ,667 Sep 273, , , , , , , ,917 Oct 298, , , , , , , ,917 Nov 281, , , , , , , ,667 Dec 325, , , , , , , ,083 TOTAL 293, , , , , , , ,408

27 Year End Home Sales Avg OLP Avg SP Avg MT AREA CITY ARLINGTON HEIGHTS 489, , , , , , BARRINGTON 670, , , , , , BARRINGTON HILLS 1,378,028 1,141,691 1,631,570 1,196, ,702 1,402, DEER PARK 632, , , , , , LAKE BARRINGTON 746, , , , , , NORTH BARRINGTON 968,915 1,008,890 1,013, , , , PORT BARRINGTON 347, , , , , , SOUTH BARRINGTON 1,199,647 1,170,899 1,310,354 1,106,764 1,087,686 1,182, TOWER LAKES 621, , , , , , CARY 351, , , , , , OAKWOOD HILLS 239, , , , , , CRYSTAL LAKE 313, , , , , , LAKEWOOD 589, , , , , , PRAIRIE GROVE 628, , , , , , DEERFIELD 741, , , , , , DES PLAINES 373, , , , , , GLENCOE 1,451,026 1,633,745 1,501,236 1,340,220 1,458,768 1,307, GLENVIEW 793, , , , , , GOLF 869, , , , , , GAGES LAKE 215, , , , , , GRAYSLAKE 313, , , , , , HAINESVILLE 262, , , , , , THIRD LAKE 343, , , , , , WILDWOOD 222, , , , , , GURNEE 362, , , , , , HIGHLAND PARK 1,109, , , , , , HIGHWOOD 476, , , , , , ISLAND LAKE 229, , , , , , KENILWORTH 1,623,680 2,269,170 2,422,550 1,490,248 1,995,891 2,065, LAKE BLUFF 932,104 1,066, , , , , LAKE FOREST 1,545,622 1,755,372 1,478,168 1,364,217 1,545,732 1,275, HAWTHORN WOODS 699, , , , , , KILDEER 919, , , , , , LAKE ZURICH 400, , , , , , LONG GROVE 996, , , , , , GREEN OAKS 775, , , , , , LIBERTYVILLE 602, , , , , , HOLIDAY HILLS 248, , , , , , JOHNSBURG 313, , , , , , LAKEMOOR 236, , , , , , MCCULLOM LAKE 179, , , , , , MCHENRY 258, , , , , , RINGWOOD 399, , , , , , Information compares YTD sales of the following years 2005, 2006, 2007

28 Avg OLP Avg SP Avg MT AREA CITY MORTON GROVE 450, , , , , , MOUNT PROSPECT 415, , , , , , IVANHOE 956, , , , , , MUNDELEIN 335, , , , , , INDIAN CREEK 503, , , , , , VERNON HILLS 535, , , , , , NORTHBROOK 807, , , , , , PALATINE 460, , , , , , LINCOLNSHIRE 744,584 22,875, , , , , ROUND LAKE 275, , , , , , ROUND LAKE BEACH 185, , , , , , ROUND LAKE HEIGHTS 214, , , , , , ROUND LAKE PARK 161, , , , , , SKOKIE 459, , , , , , WAUCONDA 317, , , , , , PARK CITY 219, , , , , , WAUKEGAN 174, , , , , , BUFFALO GROVE 465, , , , , , WHEELING 333, , , , , , WILMETTE 1,012,457 1,049,400 1,022, , , , WINNETKA 1,802,901 1,872,768 1,711,498 1,638,262 1,686,643 1,498, ALGONQUIN 346, , , , , , DEKALB 215, , , , , , LAKE IN THE HILLS 286, , , , , , SYCAMORE 267, , , , , , SCHAUMBURG 409, , , , , , HOFFMAN ESTATES 375, , , , , , EVANSTON 657, , , , , , LINCOLNWOOD 639, , , , , , BANNOCKBURN 1,752,571 2,427,800 1,474,000 1,536,786 2,089,000 1,381, METTAWA 1,546,667 1,674,000 1,874,950 1,330,000 1,550,000 1,490, INVERNESS 883, , , , , , PRAIRIE VIEW 420, , , , , , NORTHFIELD 1,116,834 1,327,329 1,064,294 1,033,993 1,146, , RIVERWOODS 991, ,585 1,092, , , , CHICAGO 521, , , , , , CHICAGO 453, , , , , , CHICAGO 1,268,359 1,281,754 1,419,219 1,202,220 1,200,528 1,289, CHICAGO 3,076,338 2,977,454 3,586,039 2,526,622 2,644,680 3,071, Average 527, , , , , %change from previous year 6.95% -5.89% 5.06% -9.00% 45.83% 22.86% Information compares YTD sales of the following years 2005, 2006, 2007

29 # Listed #Sold Volume AREA CITY ARLINGTON HEIGHTS ,141, ,378, ,648, BARRINGTON ,884, ,255,023 81,441, BARRINGTON HILLS ,750,022 33,989,879 50,499, DEER PARK ,461,000 11,772,000 15,061, LAKE BARRINGTON ,098,200 24,250,387 17,542, NORTH BARRINGTON ,994,150 34,830,500 24,715, PORT BARRINGTON ,244,912 3,515,700 4,455, SOUTH BARRINGTON ,843,500 40,244,375 39,030, TOWER LAKES ,377,500 8,577,500 1,087, CARY ,235,622 77,476,334 58,350, OAKWOOD HILLS ,534,000 5,669,000 1,286, CRYSTAL LAKE ,918, ,170,701 92,302, LAKEWOOD ,282,400 22,106,100 12,924, PRAIRIE GROVE ,867,000 4,276,000 5,938, DEERFIELD ,796, ,287,838 83,558, DES PLAINES ,906, ,797,673 73,800, GLENCOE ,104, ,088, ,302, GLENVIEW ,492, ,155, ,962, GOLF ,694,500 2,610,000 5,805, GAGES LAKE ,424, ,000 1,638, GRAYSLAKE ,577,824 80,698,513 68,120, HAINESVILLE ,806,739 7,011,250 6,136, THIRD LAKE ,629,000 4,166,000 1,543, WILDWOOD ,314,260 8,257,610 5,760, GURNEE ,337, ,229,493 84,442, HIGHLAND PARK ,852, ,751, ,930, HIGHWOOD ,590,500 5,808,000 2,019, ISLAND LAKE ,320,844 23,066,574 12,010, KENILWORTH ,256,212 87,819,200 37,176, LAKE BLUFF ,944,500 89,157,145 48,845, LAKE FOREST ,166, ,426, ,925, HAWTHORN WOODS ,787,163 56,403,953 49,788, KILDEER ,679,400 34,752,302 28,524, LAKE ZURICH ,307,731 81,573,422 62,633, LONG GROVE ,789,030 91,454,953 50,384, GREEN OAKS ,825,060 28,675,833 17,135, LIBERTYVILLE ,327, ,832,435 98,502, HOLIDAY HILLS , , , JOHNSBURG ,172,908 19,527,198 12,211, LAKEMOOR ,947,354 13,384,369 5,066, MCCULLOM LAKE , , , MCHENRY ,314, ,891,203 70,972, RINGWOOD ,478,500 3,481, ,500 Information compares YTD sales of the following years 2005, 2006, 2007

30 # Listed #Sold Volume AREA CITY MORTON GROVE ,870,155 71,077,650 47,366, MOUNT PROSPECT ,102, ,457,859 76,726, IVANHOE ,659,400 5,572,800 4,090, MUNDELEIN ,413,214 89,484,908 54,858, INDIAN CREEK ,793,750 4,070,500 2,874, VERNON HILLS ,927,076 89,025,706 62,906, NORTHBROOK ,696, ,601, ,899, PALATINE ,937, ,852, ,853, LINCOLNSHIRE ,482,750 52,218,263 26,581, ROUND LAKE ,878,340 41,745,732 31,142, ROUND LAKE BEACH ,761,041 45,272,206 27,676, ROUND LAKE HEIGHTS ,105,183 5,792,650 3,859, ROUND LAKE PARK ,727,370 11,033,145 5,251, SKOKIE ,459, ,383,001 83,433, WAUCONDA ,716,945 43,075,746 29,201, PARK CITY ,381, ,000 1,752, WAUKEGAN ,824,819 77,223,339 50,173, BUFFALO GROVE ,288, ,181,881 82,342, WHEELING ,079,200 27,601,446 21,692, WILMETTE ,873, ,717, ,631, WINNETKA ,375, ,195, ,273, ALGONQUIN ,276,531 82,828,042 60,873, DEKALB ,382,778 50,924,148 36,492, LAKE IN THE HILLS ,191,658 82,122,939 51,761, SYCAMORE ,855,655 52,744,160 41,262, SCHAUMBURG ,241, ,908,538 79,640, HOFFMAN ESTATES ,646, ,681,106 80,837, EVANSTON ,282, ,127, ,034, LINCOLNWOOD ,448,800 48,250,200 36,302, BANNOCKBURN ,757,500 10,445,000 2,762, METTAWA ,990,000 3,100,000 2,980, INVERNESS ,001,575 55,111,113 27,540, PRAIRIE VIEW ,352,500 1,253, , NORTHFIELD ,597,660 51,614,600 33,263, RIVERWOODS ,891,500 29,380,400 24,761, CHICAGO ,668,050 11,408,000 9,556, CHICAGO ,523,700 49,511,400 32,329, CHICAGO ,355, ,667, ,676, CHICAGO ,905,155 97,853,170 70,643,869 Total 35,838 33,928 29,353 14,935 11,968 9,318 7,363,916,059 6,199,237,601 4,392,098,766 %change from previous year -5.33% % % % % % Information compares YTD sales of the following years 2005, 2006, 2007

31 Condo Sales End of Year Avg OLP Avg SP Avg MT Area City ARLINGTON HEIGHTS 194, , , , , , BARRINGTON 264, , , , , , LAKE BARRINGTON 309, , , , , , CRYSTAL LAKE 161, , , , , , DEERFIELD 311, , , , , , DES PLAINES 186, , , , , , GLENCOE 339, , , , , , GLENVIEW 255, , , , , , GRAYSLAKE 189, , , , , , HAINESVILLE 175, , , , , , WILDWOOD 138, , , , , , GURNEE 152, , , , , , HIGHLAND PARK 467, , , , , , HIGHWOOD 277, , , , , , ISLAND LAKE 279, , , , , , LAKE BLUFF 206, , , , , , LAKE FOREST 409, , , , , , LAKE ZURICH 208, , , , , , LIBERTYVILLE 232, , , , , , MCHENRY 131, , , , , , MORTON GROVE 244, , , , , , MOUNT PROSPECT 180, , , , , , MUNDELEIN 155, , , , , , VERNON HILLS 191, , , , , , Avg OLP Avg SP Avg MT

32 Area City NORTHBROOK 323, , , , , , PALATINE 165, , , , , , LINCOLNSHIRE 404, , , , , , ROUND LAKE 143, , , , , , ROUND LAKE BEACH 122, , , , , , SKOKIE 262, , , , , , WAUCONDA 176, , , , , , WAUKEGAN 103, , , , ,126 88, BUFFALO GROVE 184, , , , , , WHEELING 181, , , , , , WILMETTE 368, , , , , , WINNETKA 463, , , , , , ALGONQUIN 194, , , , , , LAKE IN THE HILLS 132, , , , , , SYCAMORE 146, , , , , , SCHAUMBURG 169, , , , , , HOFFMAN ESTATES 129, , , , , , EVANSTON 311, , , , , , LINCOLNWOOD 341, , , , , , NORTHFIELD 311, , , , , , CHICAGO 226, , , , , , CHICAGO 222, , , , , , CHICAGO 356, , , , , , CHICAGO 503, , , , , , Average 320, , , , , , %change from previous year 10.87% 7.72% 10.22% 6.36% 28.26% 16.10% #Listed #Sold Volume

33 AREA CITY ARLINGTON HEIGHTS ,367,693 61,780,887 36,740, BARRINGTON ,647,854 2,689,388 1,565, LAKE BARRINGTON ,535,300 4,299,100 4,049, CRYSTAL LAKE ,918,335 16,459,904 12,247, DEERFIELD ,987,200 12,609,149 5,386, DES PLAINES ,996,935 63,368,622 40,520, GLENCOE ,186,000 2,421, , GLENVIEW ,254,525 31,510,813 15,911, GRAYSLAKE ,093,460 4,308,488 1,851, HAINESVILLE , , , WILDWOOD ,864,959 1,172, , GURNEE ,366,049 7,502,139 3,380, HIGHLAND PARK ,116,550 25,582,460 15,172, HIGHWOOD ,900 1,705, , ISLAND LAKE , , , LAKE BLUFF ,258,432 1,812,500 1,807, LAKE FOREST ,015,000 31,091,284 7,899, LAKE ZURICH ,824,400 1,584,180 2,680, LIBERTYVILLE ,986,050 8,222,400 4,998, MCHENRY ,090,759 7,839,480 5,274, MORTON GROVE ,355,010 10,900,650 7,080, MOUNT PROSPECT ,592,003 22,136,687 11,380, MUNDELEIN ,652,137 2,722,250 2,598, VERNON HILLS ,536,590 15,838,625 8,294,674

34 #Listed #Sold Volume AREA CITY NORTHBROOK ,436,800 30,827,722 14,929, PALATINE ,429,800 51,828,593 32,983, LINCOLNSHIRE ,859,500 2,621,000 1,257, ROUND LAKE ,896,090 1,026, , ROUND LAKE BEACH ,830,289 3,823,300 1,872, SKOKIE ,240,811 46,395,571 18,989, WAUCONDA ,869,465 3,490,150 2,477, WAUKEGAN ,996,345 3,289,913 1,500, BUFFALO GROVE ,214,715 20,218,799 14,098, WHEELING ,285,068 19,402,368 14,332, WILMETTE ,607,400 14,485,338 27,721, WINNETKA ,845,175 11,785,000 3,792, ALGONQUIN ,306,900 2,654, , LAKE IN THE HILLS ,649,500 5,254,900 2,763, SYCAMORE ,274,895 9,291,255 5,463, SCHAUMBURG ,324,356 51,609,447 22,751, HOFFMAN ESTATES ,034,732 10,791,950 5,130, EVANSTON ,385, ,564,794 96,629, LINCOLNWOOD ,724,500 5,308,250 1,512, NORTHFIELD ,305,200 6,026,800 6,185, CHICAGO ,001, ,928,847 83,988, CHICAGO ,885, ,375,718 41,933, CHICAGO ,299 2,132 1, ,316, ,889, ,891, CHICAGO ,985 2,805 2,128 1,455,148,622 1,486,768,353 1,217,421,109 Total 25,185 24,212 20,358 11,531 9,708 6,602 3,566,527,403 3,309,593,965 2,393,239,176 %change from previous year -3.86% % % % -7.20% %

35 Glossary of Terms and Abbreviations Absorption Rate: Absorption rates are used to determine the amount of weeks that it will take to sell the current inventory at the present rate of sales. Twenty six weeks is considered neutral. When the absorption is rate is higher than 26 weeks, it is considered a buyer's market and sale prices become stagnant. When the rate is lower, homes are selling faster and sales prices increase. To formulate Absorption Rate you need to know 2 figures. 1) How many listings are currently on the market? 2) How many listings sold last month? Then A.) Multiple the number of solds last month by 12 (months). B.) Divided by the current listings equals # of Units that would sell each week. C.) Divide the # or units that should sell each week into the number available = absorption rate. Supply Demand Ratio The amount of homes for sales divided by the amount of sold properties for a given time period. When there are six active listings for every sold listing, the market is considered to be at its equilibrium, homes are being sold at the exact right price. Listing Listing in MRED - when the current titleholders of the property have signed an exclusive or exclusive right to sell agreement and the agreement is in effect with an MRED office. Statuses for Active Listings ACTV - An A ctive listing is where an agreement and an owner of real property and a real estate agent, whereby the agent agrees to secure a buyer or tenant for specific property at a certain price and terms in return for a fee or commission. BOMK - Back on Market: A listing previously showing Off-Market (Canceled, Closed, Expired, or Rented) status is now active again. CTG - Contingent on a contract pending A valid sales contract has been signed by a Buyer and Seller with provisions to be met before a contract can become binding. CONTINGENCY FLAGS NEW - A New listing. A/I - Attorney Approval/Home Inspection CTGO - Denotes other contingency that may apply. Call Listing Agent for specifics of contingency FIN - Financing HC** - Buyer has home to close. Code is followed by number of hours in kick out period HS** - Buyer has home to sell. Code is followed by number of hours in kick out period PCHG - Price Change: A listing showing a change in list price new list price is required. RACT Reactivate: A listing that was previously showing as Contingent, Pending or Produced by NSBAR from information in MRED

36 Temporarily Off-Market TEMP - Active -Temporarily Off-Market (still listed) exclusive brokerage agreement in effect, property unable to be shown, except for reasonable restrictions noted on the listing in the showing instructions. BOMK, NEW, PCHG & RACT - statuses will show on MRED for 5 days (unless a status change is made to the listing) and then revert to an ACTV status. OFF-MARKET LISTING Closed property in MRED is when an active listing has been sold and the title has changed from the seller titleholder to the new title holder. Expired listing in MRED is an active listing which has reached it's expiration date and has moved from active status to expired and the listing agreement is no longer in effect. Temporary off the market/withdrawn is a listing in MRED which still has a valid listing agreement but the titleholders have asked the property be taken out of MRED. Cancelled listing in MRED is when seller titleholders and the real estate company have cancelled the listing agreement and the property is no longer for sale with that company. OFF MARKET STATUSES CANC - A Canceled listing - cancellation date is required CLSD - A Closed listing - must be reported within 72 hours of closing. Selling Price, Contract Date, Closed Date, Seller s Concessions Y/N (if Y is entered, Seller s Concessions $ amount is required (PNT)), and Selling Agent are required. EXP - An Expired listing. PEND - Pending: A fully executed purchase contract with no contingencies other than closing. Property must be placed in Pending in order to report it closed and show the correct Market Time. Requires entry/confirmation of the Contract Date and Selling Agent ID. RNTD - Rented: Property type 6 only - requires Rental Date, Selling Agent and Rented Price. Median Sale Price - The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price. Average Sale Price - The average home price is the sum of prices of all homes sold in a certain area in a certain period, divided by the number of properties sold in the same area in that period. Days On Market (DOM) or Market Time (MT) - The number of days a listing is active in a multiple listing service before it is entered into "pending" status. Pending status is when an offer has been accepted by the seller but the transaction is not yet closed. Many agents refer to "average days on market," which is derived by adding all the days on market of each listing and dividing by the number of listings. In a buyer's market, the DOM are generally higher because inventory takes longer to sell. In a seller's market, the DOM are fewer. Additional Abbreviations: FS= For Sale or Active Property UC= Under Contract, Property under contract but has not had all contingencies met. OLP = Original List Price Produced by NSBAR from information in MRED

37 LP = List Price LLP = Last List Price Produced by NSBAR from information in MRED