Panhandle Aug 2018 by Michele Bailey

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORS® August 2018

August 2017

Percent Change Year-over-Year

424

396

7.1%

108

122

-11.5%

Median Sale Price

$215,250

$199,500

7.9%

Average Sale Price

$252,987

$222,993

13.5%

$107.3 Million

$88.3 Million

21.5%

96.4%

96.9%

-0.5%

Median Time to Contract

42 Days

39 Days

7.7%

Median Time to Sale

90 Days

87 Days

3.4%

New Pending Sales

417

424

-1.7%

New Listings

537

503

6.8%

Pending Inventory

576

558

3.2%

Inventory (Active Listings)

1,631

1,540

5.9%

Months Supply of Inventory

4.6

4.7

-2.1%

Closed Sales

Percent Change Year-over-Year

2,956 424 421 433 413 344 377 283 261 322 280 323 331 396

7.4% 7.1% 20.3% 3.3% 7.0% 4.2% 3.0% 4.8% 11.1% 5.9% 2.2% 2.2% 2.2% 21.1%

Summary Statistics Closed Sales Paid in Cash

Dollar Volume Median Percent of Original List Price Received

Closed Sales

Month

The number of sales transactions which closed during the month Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. 2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 2017

2018

Closed Sales

500 400 300 200 100 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Produced by Florida Realtors® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, September 20, 2018. Historical data revised on Friday, September 7, 2018. Next data release is Friday, October 19, 2018.

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ Month

Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care.

2014

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Cash Sales

Percent Change Year-over-Year

752 108 96 112 110 90 91 70 75 78 77 86 83 122

-0.1% -11.5% 15.7% -5.1% 14.6% -4.3% -8.1% -12.5% 23.0% 0.0% 5.5% 10.3% -13.5% 20.8%

2017

2018

140

Cash Sales

120 100 80 60 40 20 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales

Economists' note : This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not paid fully in cash) each month involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc.

Pct. of Closed Sales Paid in Cash

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

25.4% 25.5% 22.8% 25.9% 26.6% 26.2% 24.1% 24.7% 28.7% 24.2% 27.5% 26.6% 25.1% 30.8%

-7.3% -17.2% -3.8% -8.2% 6.8% -8.1% -10.7% -16.6% 10.4% -5.8% 3.4% 7.7% -15.2% -0.3%

2017

2018

40% 30% 20% 10% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Produced by Florida RealtorsÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, September 20, 2018. Historical data revised on Friday, September 7, 2018. Next data release is Friday, October 19, 2018.

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORS® Month

Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below) Economists' note : Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. Keep in mind that median price trends over time are not always solely caused by changes in the general value of local real estate. Median sale price only reflects the values of the homes that sold each month, and the mix of the types of homes that sell can change over time.

Median Sale Price

2014

2015

2016

Percent Change Year-over-Year

$210,000 $215,250 $214,500 $214,900 $212,500 $205,000 $210,000 $199,900 $198,000 $195,338 $193,338 $192,000 $194,000 $199,500

10.5% 7.9% 10.0% 8.8% 7.1% 7.3% 13.5% 12.0% 16.6% 7.3% 8.5% 21.3% 9.0% 8.4%

2017

2018

$250K $200K $150K $100K $50K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales) Economists' note : Usually, we prefer Median Sale Price over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses—particularly when it is analyzed alongside the Median Sale Price. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area.

2014

Average Sale Price

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Sale Price

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Average Sale Price

Percent Change Year-over-Year

$246,499 $252,987 $249,348 $259,362 $243,499 $252,836 $239,127 $240,582 $223,488 $223,091 $209,638 $229,279 $232,524 $222,993

9.9% 13.5% 2.7% 5.2% 9.5% 14.4% 7.0% 20.0% 14.4% 3.3% 2.5% 15.6% 13.4% 0.4%

2017

2018

$300K $250K $200K $150K

$100K $50K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ Month

Dollar Volume The sum of the sale prices for all sales which closed during the month Economists' note : Dollar Volume is simply the sum of all sale prices in a given time period, and can quickly be calculated by multiplying Closed Sales by Average Sale Price. It is a strong indicator of the health of the real estate industry in a market, and is of particular interest to real estate professionals, investors, analysts, and government agencies. Potential home sellers and home buyers, on the other hand, will likely be better served by paying attention to trends in the two components of Dollar Volume (i.e. sales and prices) individually. 2014

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Dollar Volume

Percent Change Year-over-Year

$728.7 Million $107.3 Million $105.0 Million $112.3 Million $100.6 Million $87.0 Million $90.2 Million $68.1 Million $58.3 Million $71.8 Million $58.7 Million $74.1 Million $77.0 Million $88.3 Million

18.1% 21.5% 23.5% 8.8% 17.1% 19.3% 10.2% 25.7% 27.1% 9.4% 4.8% 18.2% 15.9% 21.5%

2017

2018

$120 M

Dollar Volume

$100 M $80 M $60 M $40 M $20 M $0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during the month Economists' note : The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

Med. Pct. of Orig. List Price Received

2014

2015

2016

Month Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Med. Pct. of Orig. List Price Received

Percent Change Year-over-Year

96.4% 96.4% 95.9% 97.3% 96.8% 97.0% 96.4% 95.4% 95.7% 96.6% 95.1% 95.0% 95.6% 96.9%

0.3% -0.5% -0.8% 0.9% 0.8% 1.0% 0.5% 1.0% 0.6% 1.5% 0.4% 0.3% 0.1% 0.5%

2017

2018

120% 100% 80% 60%

40% 20% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ Month

Median Time to Contract The median number of days between the listing date and contract date for all Closed Sales during the month Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during the month. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. 2014

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Median Time to Contract

Percent Change Year-over-Year

51 Days 42 Days 54 Days 42 Days 38 Days 44 Days 60 Days 78 Days 71 Days 49 Days 57 Days 55 Days 49 Days 39 Days

-10.5% 7.7% 12.5% -22.2% -35.6% -29.0% -17.8% -10.3% -18.4% -38.8% -13.6% -17.9% -29.0% -38.1%

2017

2018

Median Time to Contract

120 100 80 60 40 20 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Median Time to Sale The median number of days between the listing date and closing date for all Closed Sales during the month Economists' note : Time to Sale is a measure of the length of the home selling process, calculated as the number of days between the initial listing of a property and the closing of the sale. Median Time to Sale is the amount of time the "middle" property selling this month was on the market. That is, 50% of homes selling this month took less time to sell, and 50% of homes took more time to sell. Median Time to Sale gives a more accurate picture than Average Time to Sale, which can be skewed upward by small numbers of properties taking an abnormally long time to sell.

Median Time to Sale

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Time to Sale

Percent Change Year-over-Year

98 Days 90 Days 102 Days 93 Days 84 Days 85 Days 106 Days 119 Days 117 Days 99 Days 99 Days 104 Days 102 Days 87 Days

-10.1% 3.4% 10.9% -12.3% -24.3% -26.1% -23.7% -17.4% -24.0% -25.0% -14.7% -15.4% -19.0% -25.6%

2017

2018

200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORS® Month

New Pending Sales

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

The number of listed properties that went under contract during the month Economists' note : Because of the typical length of time it takes for a sale to close, economists consider Pending Sales to be a decent indicator of potential future Closed Sales. It is important to bear in mind, however, that not all Pending Sales will be closed successfully. So, the effectiveness of Pending Sales as a future indicator of Closed Sales is susceptible to changes in market conditions such as the availability of financing for homebuyers and the inventory of distressed properties for sale. 2014

2015

2016

New Pending Sales

Percent Change Year-over-Year

3,303 417 432 439 446 411 430 362 366 264 290 337 264 424

6.1% -1.7% 10.8% 16.8% 8.5% 4.3% 0.9% -0.8% 11.6% 3.1% -2.0% 15.4% -25.8% 22.2%

2017

2018

Pending Sales

500 400 300 200 100 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

New Listings The number of properties put onto the market during the month Economists' note : New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of value—and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings. 2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

New Listings

Percent Change Year-over-Year

4,130 537 539 502 520 508 562 475 487 301 348 413 420 503

9.5% 6.8% 17.9% 11.3% 7.0% 9.0% 14.0% 11.5% -0.4% 5.2% 6.4% -1.2% 5.3% 8.4%

2017

2018

New Listings

600 500 400 300

200 100 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ Month

Inventory (Active Listings) The number of property listings active at the end of the month Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of the month, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market.

2014

2015

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Inventory

Percent Change Year-over-Year

1,578 1,631 1,594 1,588 1,604 1,610 1,569 1,531 1,495 1,448 1,531 1,573 1,589 1,540

-3.5% 5.9% 1.1% -1.9% -1.5% -1.9% -5.9% -9.1% -13.6% -14.1% -9.6% -11.0% -13.9% -19.6%

2017

2018

2,500

Inventory

2,000 1,500 1,000 500 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates Economists' note : MSI is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market. There is no single accepted way of calculating MSI. A common method is to divide current Inventory by the most recent month's Closed Sales count, but this count is a usually poor predictor of future Closed Sales due to seasonal cycles. To eliminate seasonal effects, we use the 12-month average of monthly Closed Sales instead.

Months Supply of Inventory

2014

2015

2016

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Months Supply

Percent Change Year-over-Year

4.6 4.6 4.6 4.6 4.7 4.7 4.6 4.5 4.4 4.3 4.6 4.7 4.8 4.7

-11.5% -2.1% -6.1% -8.0% -7.8% -9.6% -13.2% -16.7% -21.4% -21.8% -17.9% -20.3% -23.8% -28.8%

2017

2018

10.0 8.0 6.0 4.0 2.0 0.0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORS®

Closed Sales by Sale Price The number of sales transactions which closed during the month

Closed Sales

Economists' note: Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. August 2017

100 90 80 70 60 50 40 30 20 10 0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

Median Time to Contract

-76.7%

$50,000 - $99,999

-20.6%

$100,000 - $149,999

25.0%

$150,000 - $199,999

10.1%

$200,000 - $249,999

19.0%

$250,000 - $299,999

-3.5%

$300,000 - $399,999

25.5%

$400,000 - $599,999

70.6%

$600,000 - $999,999

-28.6%

$1,000,000 or more

150.0%

August 2017

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more Median Time to Contract

Percent Change Year-over-Year

Less than $50,000

23 Days

-37.8%

$50,000 - $99,999

27 Days

-38.6%

$100,000 - $149,999

29 Days

70.6%

$150,000 - $199,999

36 Days

200.0%

$200,000 - $249,999

53 Days

-18.5%

$250,000 - $299,999

45 Days

-4.3%

$300,000 - $399,999

43 Days

-39.4%

$400,000 - $599,999

76 Days

38.2%

$600,000 - $999,999

146 Days

-2.0%

$1,000,000 or more

184 Days

-51.7%

Sale Price

Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during the month. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales.

$50,000 $99,999

Less than $50,000

100 90 80 70 60 50 40 30 20 10 0

The median number of days between the listing date and contract date for all Closed Sales during the month

Less than $50,000

Percent Change Year-over-Year

August 2018

Median Time to Contract by Sale Price

450 400 350 300 250 200 150 100 50 0

Closed Sales

Sale Price

August 2018

$100,000 $149,999

$150,000 $199,999

450 400 350 300 250 200 150 100 50 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Market Detail - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ

New Listings by Initial Listing Price The number of properties put onto the market during the month Economists' note: New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of valueâ&#x20AC;&#x201D;and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings.

New Listings

August 2017

Initial Listing Price

New Listings

Percent Change Year-over-Year

Less than $50,000

70.0%

$50,000 - $99,999

-23.7%

$100,000 - $149,999

-21.6%

$150,000 - $199,999

-5.9%

$200,000 - $249,999

12.5%

$250,000 - $299,999

48.1%

$300,000 - $399,999

-1.4%

$400,000 - $599,999

35.5%

$600,000 - $999,999

128.6%

$1,000,000 or more

175.0%

August 2018

120

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The number of property listings active at the end of the month Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of the month, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. August 2017

Inventory

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Inventory

Percent Change Year-over-Year

Less than $50,000

-2.6%

$50,000 - $99,999

133

-18.9%

$100,000 - $149,999

130

-31.2%

$150,000 - $199,999

228

-4.2%

$200,000 - $249,999

259

28.2%

$250,000 - $299,999

242

37.5%

$300,000 - $399,999

263

20.1%

$400,000 - $599,999

162

6.6%

$600,000 - $999,999

15.1%

$1,000,000 or more

2.7%

Current Listing Price

Inventory by Current Listing Price

300

$300,000 $399,999

August 2018

300

250

200

150

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Distressed Market - August 2018 Single Family Homes Central Panhandle Association of REALTORSÂŽ

Closed Sales

August 2018

August 2017

Percent Change Year-over-Year

412

369

11.7%

$218,000

$205,000

6.3%

-61.5%

$104,950

$57,207

83.5%

100.0%

$111,505

$201,000

-44.5%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2014

2015

Traditional

2016

Foreclosure/REO

2017

2018

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A $250,000

Median Sale Price

$200,000

$150,000

$100,000

$50,000

$0 J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2014

2015

2016

2017

2018

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORS® August 2018

August 2017

Percent Change Year-over-Year

160

148

8.1%

5.3%

Median Sale Price

$238,581

$250,000

-4.6%

Average Sale Price

$265,657

$260,616

1.9%

$42.5 Million

$38.6 Million

10.2%

97.2%

96.2%

1.0%

Median Time to Contract

40 Days

49 Days

-18.4%

Median Time to Sale

78 Days

88 Days

-11.4%

New Pending Sales

184

146

26.0%

New Listings

224

177

26.6%

Pending Inventory

197

155

27.1%

Inventory (Active Listings)

502

650

-22.8%

Months Supply of Inventory

3.4

5.2

-34.6%

Closed Sales

Percent Change Year-over-Year

1,263 160 159 165 175 178 193 125 108 113 122 120 136 148

16.1% 8.1% 12.8% 0.6% 30.6% 17.9% 22.2% 13.6% 31.7% 13.0% 25.8% 7.1% 46.2% 39.6%

Summary Statistics Closed Sales Paid in Cash

Dollar Volume Median Percent of Original List Price Received

Closed Sales

Month

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 2017

2018

Closed Sales

250 200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ Month

2014

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Cash Sales

Percent Change Year-over-Year

639 80 72 85 85 87 103 66 61 54 61 67 58 76

22.9% 5.3% 5.9% 18.1% 25.0% 40.3% 35.5% 32.0% 27.1% 14.9% 32.6% 11.7% 38.1% 55.1%

2017

2018

120

Cash Sales

100 80 60 40 20 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales

Pct. of Closed Sales Paid in Cash

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

50.6% 50.0% 45.3% 51.5% 48.6% 48.9% 53.4% 52.8% 56.5% 47.8% 50.0% 55.8% 42.6% 51.4%

5.9% -2.7% -6.0% 17.3% -4.1% 19.0% 11.0% 16.0% -3.4% 1.7% 5.5% 4.1% -5.8% 11.3%

2017

2018

70% 60% 50% 40% 30% 20% 10% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORS® Month

Median Sale Price

2014

2015

2016

Percent Change Year-over-Year

$240,000 $238,581 $240,000 $238,162 $235,000 $251,950 $270,000 $220,000 $245,000 $261,000 $255,000 $203,100 $222,000 $250,000

7.6% -4.6% 11.1% 19.7% 6.1% 13.0% 8.0% 1.4% 19.5% 12.0% 8.5% -0.9% 3.3% 27.5%

2017

2018

$300K $250K $200K $150K $100K $50K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

2014

Average Sale Price

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Sale Price

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Average Sale Price

Percent Change Year-over-Year

$265,419 $265,657 $264,442 $263,093 $261,470 $264,196 $281,030 $248,465 $270,195 $258,391 $272,738 $239,422 $243,473 $260,616

6.7% 1.9% -3.2% 12.3% 5.7% 13.5% 4.5% 9.4% 14.4% 4.9% 6.1% 10.0% -0.3% 13.1%

2017

2018

$300K $250K $200K $150K

$100K $50K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ Month

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Dollar Volume

Percent Change Year-over-Year

$335.2 Million $42.5 Million $42.0 Million $43.4 Million $45.8 Million $47.0 Million $54.2 Million $31.1 Million $29.2 Million $29.2 Million $33.3 Million $28.7 Million $33.1 Million $38.6 Million

23.9% 10.2% 9.2% 12.9% 38.0% 33.8% 27.6% 24.4% 50.7% 18.6% 33.5% 17.9% 45.8% 57.9%

2017

2018

$60 M

Dollar Volume

$50 M $40 M $30 M $20 M $10 M $0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Med. Pct. of Orig. List Price Received

2014

2015

2016

Month Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Med. Pct. of Orig. List Price Received

Percent Change Year-over-Year

96.8% 97.2% 97.2% 97.2% 97.3% 96.5% 96.7% 96.1% 96.5% 95.9% 95.4% 96.0% 95.6% 96.2%

1.4% 1.0% 1.9% 1.9% 1.1% 1.2% 2.0% 1.2% 1.6% 1.1% 1.1% 1.2% -0.6% 0.8%

2017

2018

120% 100% 80% 60%

40% 20% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ Month

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Median Time to Contract

Percent Change Year-over-Year

39 Days 40 Days 42 Days 37 Days 31 Days 26 Days 44 Days 68 Days 60 Days 64 Days 82 Days 69 Days 58 Days 49 Days

-43.5% -18.4% -31.1% -27.5% -51.6% -64.4% -60.0% -29.9% -21.1% -47.5% -26.8% -31.7% -31.0% -46.2%

2017

2018

Median Time to Contract

140 120 100 80 60 40 20 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Median Time to Sale

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Time to Sale

Percent Change Year-over-Year

72 Days 78 Days 83 Days 64 Days 65 Days 58 Days 72 Days 92 Days 93 Days 101 Days 112 Days 112 Days 92 Days 88 Days

-28.7% -11.4% -10.8% -27.3% -31.6% -39.6% -51.0% -30.3% -10.6% -29.4% -23.8% -18.8% -25.2% -28.5%

2017

2018

200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORS® Month

New Pending Sales

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2015

2016

New Pending Sales

Percent Change Year-over-Year

1,430 184 152 182 216 184 195 162 155 93 124 128 113 146

19.9% 26.0% 4.1% 15.9% 54.3% 22.7% 8.9% 5.9% 27.0% 13.4% 25.3% 10.3% 18.9% 23.7%

2017

2018

Pending Sales

250 200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

New Listings

Percent Change Year-over-Year

1,564 224 172 129 209 236 237 157 200 82 147 140 122 177

16.2% 26.6% 28.4% -26.3% 10.0% 29.7% 26.1% -4.3% 47.1% -21.9% 13.1% -2.1% -9.0% 13.5%

2017

2018

New Listings

300 250 200 150

100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ Month

2014

2015

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Inventory

Percent Change Year-over-Year

520 502 482 456 535 566 521 536 559 554 616 617 633 650

-26.0% -22.8% -26.6% -35.7% -25.1% -17.5% -26.7% -27.6% -26.0% -30.8% -23.2% -23.7% -26.6% -26.1%

2017

2018

1,200

Inventory

1,000 800 600 400 200 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Months Supply of Inventory

2014

2015

2016

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Months Supply

Percent Change Year-over-Year

3.7 3.4 3.3 3.2 3.7 4.0 3.8 4.0 4.2 4.2 4.7 4.8 5.0 5.2

-41.3% -34.6% -38.9% -47.5% -41.3% -34.4% -42.4% -43.7% -43.2% -46.2% -39.7% -39.2% -40.5% -38.8%

2017

2018

10.0 8.0 6.0 4.0 2.0 0.0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORS®

Closed Sales by Sale Price The number of sales transactions which closed during the month

Closed Sales

40 35 30 25 20 15 10 5 0 Less than $50,000

$50,000 $99,999

Less than $50,000

N/A

$50,000 - $99,999

-25.0%

$100,000 - $149,999

-9.1%

$150,000 - $199,999

66.7%

$200,000 - $249,999

30.0%

$250,000 - $299,999

-17.4%

$300,000 - $399,999

-8.8%

$400,000 - $599,999

5.6%

$600,000 - $999,999

100.0%

$1,000,000 or more

N/A

$100,000 $149,999

$150,000 $199,999

40 35 30 25 20 15 10 5 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more Median Time to Contract

Percent Change Year-over-Year

Less than $50,000

(No Sales)

N/A

$50,000 - $99,999

3 Days

-88.9%

$100,000 - $149,999

77 Days

97.4%

$150,000 - $199,999

31 Days

-13.9%

$200,000 - $249,999

31 Days

-6.1%

$250,000 - $299,999

68 Days

-44.7%

$300,000 - $399,999

39 Days

-58.9%

$400,000 - $599,999

58 Days

-23.7%

$600,000 - $999,999

82 Days

331.6%

$1,000,000 or more

(No Sales)

N/A

Sale Price

The median number of days between the listing date and contract date for all Closed Sales during the month

Median Time to Contract

Percent Change Year-over-Year

August 2018

Median Time to Contract by Sale Price

140

Closed Sales

Sale Price

August 2018

140

120

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Market Detail - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ

New Listings

August 2017

Initial Listing Price

New Listings

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

-70.0%

$100,000 - $149,999

-34.6%

$150,000 - $199,999

-8.8%

$200,000 - $249,999

-8.3%

$250,000 - $299,999

39.3%

$300,000 - $399,999

100.0%

$400,000 - $599,999

152.6%

$600,000 - $999,999

0.0%

$1,000,000 or more

-100.0%

August 2018

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The number of property listings active at the end of the month

Inventory

Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of the month, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. August 2017

Less than $50,000

$50,000 $99,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Inventory

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

-83.3%

$100,000 - $149,999

-35.2%

$150,000 - $199,999

-29.5%

$200,000 - $249,999

-53.2%

$250,000 - $299,999

-20.0%

$300,000 - $399,999

138

6.2%

$400,000 - $599,999

102

-1.0%

$600,000 - $999,999

-13.9%

$1,000,000 or more

-83.3%

Current Listing Price

Inventory by Current Listing Price

160 140 120 100 80 60 40 20 0

$300,000 $399,999

August 2018

$100,000 $149,999

$150,000 $199,999

160 140 120 100 80 60 40 20 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Distressed Market - August 2018 Townhouses and Condos Central Panhandle Association of REALTORSÂŽ

Closed Sales

August 2018

August 2017

Percent Change Year-over-Year

158

143

10.5%

$238,581

$250,000

-4.6%

-100.0%

(No Sales)

$114,000

N/A

-33.3%

$257,500

$327,000

-21.3%

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2014

2015

Traditional

2016

Foreclosure/REO

2017

2018

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A $700,000 $600,000

Median Sale Price

$500,000 $400,000 $300,000 $200,000 $100,000 $0 J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2014

2015

2016

2017

2018

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORS® August 2018

August 2017

Percent Change Year-over-Year

-5.6%

-30.4%

Median Sale Price

$83,500

$61,000

36.9%

Average Sale Price

$83,668

$70,082

19.4%

$2.8 Million

$2.5 Million

12.8%

94.9%

91.7%

3.5%

Median Time to Contract

23 Days

89 Days

-74.2%

Median Time to Sale

67 Days

128 Days

-47.7%

New Pending Sales

-34.2%

New Listings

7.8%

Pending Inventory

-22.4%

Inventory (Active Listings)

159

160

-0.6%

Months Supply of Inventory

4.7

4.8

-2.1%

Closed Sales

Percent Change Year-over-Year

284 34 40 31 46 44 38 21 30 35 20 33 30 36

2.5% -5.6% 17.6% 10.7% 39.4% 29.4% -11.6% -40.0% -11.8% 2.9% -23.1% -8.3% 3.4% -5.3%

Summary Statistics Closed Sales Paid in Cash

Dollar Volume Median Percent of Original List Price Received

Closed Sales

Month

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017 2017

2018

Closed Sales

50 40 30 20 10 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ Month

2014

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Cash Sales

Percent Change Year-over-Year

169 16 22 18 28 25 26 13 21 21 13 22 23 23

-7.1% -30.4% 10.0% 0.0% 3.7% 8.7% 0.0% -45.8% 0.0% -8.7% -13.3% -15.4% 15.0% -8.0%

2017

2018

Cash Sales

25 20 15 10 5 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales

Pct. of Closed Sales Paid in Cash

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

59.5% 47.1% 55.0% 58.1% 60.9% 56.8% 68.4% 61.9% 70.0% 60.0% 65.0% 66.7% 76.7% 63.9%

-9.4% -26.3% -6.5% -9.6% -25.6% -16.0% 13.1% -9.8% 13.3% -11.2% 12.7% -7.6% 11.2% -2.9%

2017

2018

100% 80% 60% 40% 20% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORS® Month

Median Sale Price

2014

2015

2016

Percent Change Year-over-Year

$84,000 $83,500 $95,750 $85,000 $77,000 $86,000 $68,750 $79,500 $62,250 $86,000 $68,500 $60,500 $75,500 $61,000

29.2% 36.9% 24.6% 9.7% 40.0% 47.9% -0.2% 22.3% 45.8% 93.3% 20.2% -4.4% 12.7% -3.5%

2017

2018

$120K $100K $80K $60K $40K $20K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

2014

Average Sale Price

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Sale Price

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Average Sale Price

Percent Change Year-over-Year

$86,153 $83,668 $99,588 $91,086 $86,365 $90,289 $78,502 $82,635 $71,717 $92,957 $72,620 $62,705 $78,403 $70,082

17.7% 19.4% 30.8% 11.8% 11.1% 25.2% -2.2% 14.6% 28.4% 61.1% 12.3% -8.3% 12.1% -0.3%

2017

2018

$120K $100K $80K $60K

$40K $20K $0K

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ

2015

Month

Dollar Volume

Percent Change Year-over-Year

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

$24.5 Million $2.8 Million $4.0 Million $2.8 Million $4.0 Million $4.0 Million $3.0 Million $1.7 Million $2.2 Million $3.3 Million $1.5 Million $2.1 Million $2.4 Million $2.5 Million

20.6% 12.8% 53.9% 23.8% 54.8% 62.1% -13.6% -31.2% 13.3% 65.9% -13.6% -16.0% 16.0% -5.6%

2016

2017

2018

$5 M

Dollar Volume

$4 M $3 M $2 M $1 M $0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Med. Pct. of Orig. List Price Received

2014

2015

2016

Month Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Med. Pct. of Orig. List Price Received

Percent Change Year-over-Year

91.6% 94.9% 90.9% 91.8% 90.5% 90.5% 94.7% 90.7% 91.0% 94.2% 92.6% 91.0% 89.2% 91.7%

1.2% 3.5% 0.9% 0.5% 1.6% 1.2% 9.7% -4.8% 0.1% 4.7% 5.8% -3.8% -0.6% 1.7%

2017

2018

120% 100% 80% 60%

40% 20% 0%

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ Month

2015

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Median Time to Contract

Percent Change Year-over-Year

41 Days 23 Days 67 Days 53 Days 46 Days 30 Days 27 Days 64 Days 79 Days 74 Days 24 Days 79 Days 54 Days 89 Days

-44.6% -74.2% -17.3% -39.8% 2.2% -53.8% -77.1% 16.4% 36.2% -6.3% -74.5% 71.7% -12.9% 4.7%

2017

2018

Median Time to Contract

150

100

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Median Time to Sale

2014

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Median Time to Sale

Percent Change Year-over-Year

84 Days 67 Days 115 Days 125 Days 86 Days 71 Days 62 Days 125 Days 114 Days 115 Days 79 Days 125 Days 84 Days 128 Days

-27.0% -47.7% -10.2% -16.7% 7.5% -38.8% -58.9% 37.4% -1.7% -25.3% -36.3% 37.4% -19.2% 6.7%

2017

2018

200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORS® Month

New Pending Sales

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2015

2016

New Pending Sales

Percent Change Year-over-Year

304 25 41 31 43 40 52 42 30 41 29 35 28 38

-1.6% -34.2% 17.1% -24.4% 43.3% 11.1% 0.0% 10.5% -23.1% 5.1% -9.4% 84.2% -37.8% 18.8%

2017

2018

Pending Sales

60 50 40 30 20 10 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

2015

2016

Year-to-Date August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

New Listings

Percent Change Year-over-Year

398 55 53 45 43 41 59 44 58 28 45 38 41 51

18.8% 7.8% 12.8% 21.6% -2.3% 17.1% 31.1% 25.7% 41.5% -26.3% -15.1% -5.0% -21.2% -5.6%

2017

2018

New Listings

60 50 40 30 20 10 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ Month

2014

2015

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

2016

Inventory

Percent Change Year-over-Year

149 159 141 140 134 145 153 161 160 136 164 156 164 160

-12.4% -0.6% -11.9% -10.8% -20.7% -10.5% -6.7% -14.4% -20.4% -37.6% -24.8% -24.3% -22.3% -24.2%

2017

2018

250

Inventory

200 150 100 50 0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Month

Months Supply of Inventory

2014

2015

2016

YTD (Monthly Avg) August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 December 2017 November 2017 October 2017 September 2017 August 2017

Months Supply

Percent Change Year-over-Year

4.6 4.7 4.2 4.2 4.1 4.6 4.9 5.1 4.9 4.1 5.0 4.7 4.9 4.8

-9.8% -2.1% -12.5% -10.6% -18.0% -2.1% 2.1% -10.5% -21.0% -42.3% -31.5% -31.9% -31.9% -35.1%

2017

2018

20.0 15.0 10.0 5.0 0.0

J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORS®

Closed Sales by Sale Price The number of sales transactions which closed during the month Economists' note: Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. August 2017

Closed Sales

Percent Change Year-over-Year

Less than $50,000

-57.1%

$50,000 - $99,999

25.0%

$100,000 - $149,999

100.0%

$150,000 - $199,999

-100.0%

$200,000 - $249,999

N/A

$250,000 - $299,999

N/A

$300,000 - $399,999

N/A

$400,000 - $599,999

N/A

$600,000 - $999,999

N/A

$1,000,000 or more

N/A

Sale Price

August 2018

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The median number of days between the listing date and contract date for all Closed Sales during the month

Median Time to Contract

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more Median Time to Contract

Percent Change Year-over-Year

Less than $50,000

8 Days

-92.0%

$50,000 - $99,999

25 Days

-72.8%

$100,000 - $149,999

35 Days

-54.5%

$150,000 - $199,999

(No Sales)

N/A

$200,000 - $249,999

(No Sales)

N/A

$250,000 - $299,999

(No Sales)

N/A

$300,000 - $399,999

(No Sales)

N/A

$400,000 - $599,999

(No Sales)

N/A

$600,000 - $999,999

(No Sales)

N/A

$1,000,000 or more

(No Sales)

N/A

Sale Price

Median Time to Contract by Sale Price

120

$300,000 $399,999

August 2018

120

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Market Detail - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ

New Listings

August 2017

Initial Listing Price

New Listings

Percent Change Year-over-Year

Less than $50,000

-41.7%

$50,000 - $99,999

-13.0%

$100,000 - $149,999

81.8%

$150,000 - $199,999

66.7%

$200,000 - $249,999

100.0%

$250,000 - $299,999

-100.0%

$300,000 - $399,999

N/A

$400,000 - $599,999

N/A

$600,000 - $999,999

N/A

$1,000,000 or more

N/A

August 2018

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The number of property listings active at the end of the month

Inventory

Less than $50,000

$50,000 $99,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Inventory

Percent Change Year-over-Year

Less than $50,000

-37.9%

$50,000 - $99,999

-14.1%

$100,000 - $149,999

47.1%

$150,000 - $199,999

11.8%

$200,000 - $249,999

100.0%

$250,000 - $299,999

-33.3%

$300,000 - $399,999

-100.0%

$400,000 - $599,999

N/A

$600,000 - $999,999

N/A

$1,000,000 or more

N/A

Current Listing Price

Inventory by Current Listing Price

80 70 60 50 40 30 20 10 0

$300,000 $399,999

August 2018

$100,000 $149,999

$150,000 $199,999

80 70 60 50 40 30 20 10 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Distressed Market - August 2018 Manufactured Homes Central Panhandle Association of REALTORSÂŽ

Closed Sales

August 2018

August 2017

Percent Change Year-over-Year

0.0%

$89,500

$62,101

44.1%

-25.0%

$55,500

$38,000

46.1%

-100.0%

(No Sales)

$73,000

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2014

2015

Traditional

2016

Foreclosure/REO

2017

2018

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A $120,000

Median Sale Price

$100,000

$80,000

$60,000

$40,000

$20,000

$0 J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A S O N D J F MAM J J A

2014

2015

2016

2017

2018