TABLE OF CONTENTS Charts and Commentary………………………………………………..Pages 1-2 Market Summary Table………………………………………………..Page 3 Glossary………………………………………………………………...Page 4 Su M Tu W Th F Sa Sunday, September 4123 4 5678910 20222223241516171819202111121314 293025262728 CONDOMINIUMS CONDOMINIUMS REAL ESTATE MARKET REPORT Windermere Real Estate/Orcas Island PO Box Box 310 18 Haven Road, Eastsound WA 360.376.8000orcas@windermere.comwww.orcas-island.com98245 @WindermereOrcas@windermereorcas Real Market Reports www.RealMarketReports.com
CONDOMINIUMS CONDOMINIUMS REAL ESTATE MARKET REPORT listingsthehighestnumberofoff-markettime.The$700K+pricerangehasthoughtsaboutsellingatthisparticularperhapstheownerhadsecondthepropertywasinpoorcondition,orhavingbeeninadequatelymarketed,reasonssuchasbeingpricedtoohigh,time.ListingsmayfailtosellformanyfailedtosellinthatsameperiodofAlternatively,atotalof5listingshavelistings.rangecontainsahighnumberofsoldwepriceof$312,500.Breakingitdown,thelast6monthswithamediansoldAtotalof4contractshaveclosedinforAsoftoday,therearenoMLSlistingscontractsconclusionssincetherearen'tanyUnfortunately,wecannotdrawanypendingrightnow.salein.noticethatthe$200K-$250Kpriceat4properties."The pending ratio cannot be determined at this time." I'mgreat...butwhatexactlydoesitmean?Soyoumightbeaskingyourself,that'spendingratiocannotbedetermined.forsale.Forthisreason,themarketmarketoverall,leaving0listingsstillthereare0salespendingintheattherealestatemarket.Currentlygladyouasked! existingarenotenoughqualifiedbuyersfortheAlternatively,alowratiomeanstheredemandandquicklygoingtocontract.ahighratiomeansthatlistingsarein&demandofthemarket.Specifically,Thependingratioindicatesthesupplysupply. 11111100000 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K Properties For Sale Contracts Pending 10 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K Off-MarketSold Condominiums Number of Listings For Sale vs. Pending Contract Condominiums Num Sold vs. Off-Market (Last 6 mos.) Let's take a look 1Real Market Reports www.RealMarketReports.com Updated 9/4/2022, RealMarketReports.com Copyright © Windermere Real Estate/Orcas Island Updated 9/4/2022, RealMarketReports.com Copyright © Windermere Real Estate/Orcas Island Sunday, September 4, 2022 Market Dashboard Windermere Real Estate/Orcas Island
ontoadditionalpropertiesthatwillcomedoesnottakeintoconsiderationanysignificanttomentionthatthisestimateconditionsremainedthesame.Itiscurrentinventoryofpropertiesifallhowlongitwouldtaketosellofftheestimateisoftenusedtodeterminetheunavailabilityofcertaindata.ThisratecouldnotbedeterminedduetoUnfortunately,thecurrentabsorptionthemarketinthefuture.includingfluctuateduetomanyfactors,realizethatrealestatemarketscandemand.Itisalwaysimportantto6months,itisapositiveindicatorforlessthanthemedianDOMforthelastonmarket.SincetherecentDOMislast30dayswas$350,000with2daysbelow.ThemediansoldpriceforthehistoryofsalesinthetwochartsMovingon,wecanseetherecentsoldinthe$350K-$400Kpricerangehavedaysonmarket.Noticethatpropertiesmediansoldpriceof$312,500and6forthelastsixmonthsrevealsaHowever,analysisofsoldpropertiesconclusionsthereforewecannotdrawanyaren'tanyMLSlistingsforsaleinandmentionedonthepreviouspage,therebylowDOM).Unfortunately,asDOM),oraseller'smarket(indicatedinabuyer'smarket(indicatedbyhighhelpustodeterminewhetherweareausefulmeasurementbecauseitcanonmarket(DOM)isimportant.ThisismightbewonderingwhyaveragedaysLookingatthecharttotheright,youbasedonactiveDOM.quickestoverthelastsixmonths.shiftinginterestrates,theeconomy,
property.buyersdecidehowmuchtoofferonaItisaverycommonmethodtohelplistpricethatthebuyerultimatelypaid.determinethepercentageofthefinalwetypicallyusethelist-to-saleratiotolistpriceandsoldprice.Inourcase,differencebetweentwovaluessuchasRatiosaresimplewaystoexpressthechanges.
for"Themedianlist-to-salesratiothisareais100.8%." 7.78685.84013.89341.94670 $0K $50K $100K $150K $200K $250K $300K $350K $400K $450K $500K $550K $600K $650K $700K ForSoldSale $700K$600K$500K$400K$300K$200K$100K$0K AprMayJunJulAugSep 8754310 AprMayJunJulAugSep Condominiums Median Days on Market (DOM) Condominiums Median Days on Market (Sold) Condominiums Median Sold Prices 2Real Market Reports www.RealMarketReports.com Updated 9/4/2022, RealMarketReports.com Copyright © Windermere Real Estate/Orcas Island Copyright © Windermere Real Estate/Orcas Island Updated 9/4/2022, RealMarketReports.com Copyright © Windermere Real Estate/Orcas Island Updated 9/4/2022, RealMarketReports.com Sunday, September 4, 2022 Market Dashboard Windermere Real Estate/Orcas Island
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CONDOMINIUMS CONDOMINIUMS REAL ESTATE MARKET REPORT
CONDOMINIUMS CONDOMINIUMS REAL ESTATE MARKET REPORT A M A M A M A M Date Range (Off-Market & Sold) = 03/06/2022 to 09/04/2022 Data believed to be accurate but not guaranteed. N/AN/AN/AN/A Status = [1] Active; [2] Contingent, Pending, Pending Feasibility, Pending Inspection, Pending Short Sale, Pending BU Requested; [3] Cancelled, Temp. Off Mrkt., Expired, Sale Fail Release; [4] Sold Area = 901PropertyTypeOrcas=Single Family PropertySubType = Condominium $312,500 101% $363,763 106% MarketMedians 6310,000$ $310,000 54MarketAveragesMarketTotals 00 5343,750$ $343,750 00 4$700,000+ 0 000$650,000$699,999 0 $600,050 114% 7525,000$525,000$600,050$ 114% 1 7525,000$525,000$00$600,000$649,999 0 000$550,000$599,999 0 000$500,000$549,999 0 000$450,000$499,999 0 000$400,000$449,999 0 $350,000 100% 2350,000$350,000$350,000$ 100% 1 00 1 7270,0007275,000$$275,000$ 0000$200,000$249,999 0 $150,000$199,999 0 00$100,000$149,999 0 Price Range Num # $50,000$99,999 00 Days on Market Current List Price A = Average Value M = Median Value N/A = Not Available 0 ACTIVE [1] ListSale Ratio Est. LowHighMos. 5 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE (months of inventory) Num # Num # Num # 4 SOLD/CLOSED (last 6 months) [4] Days on Market Original List Price Final List Price Sold/ Closed Price MARKET SUMMARY TABLE 0 PENDING [2] $0$49,999 0 Pend Ratio 000000 5230,000$230,000$230,000$230,000$ 100% 1 5 0 $230,000 102%102%100%$$230,000$350,000270,000270,000$270,000$0 2350,000$ 0 $350,000$399,999 0 $250,000$299,999 0 $300,000$349,999 0 001 3Real Market Reports www.RealMarketReports.com Sunday, September 4, 2022 Market Summary Table Windermere Real Estate/Orcas Island Favors Sellers Favors Buyers
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
Real Market Reports www.RealMarketReports.com 4 Sunday, September 4, 2022 Glossary Windermere Real Estate/Orcas Island
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.
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.
a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale
4. PROPERTIES SOLD (CLOSED CONTRACT)
d. Final List Price: The price at which a sold property was marketed just prior to selling.
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
b. Days on Market (DOM): The 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. Current List Price: The price that a property seller is currently asking.
1. PROPERTIES FOR SALE (ACTIVE)
CONDOMINIUMS CONDOMINIUMS REAL ESTATE MARKET REPORT
3. OFF-MARKET
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
5. ABSORPTION RATE / MONTHS OF INVENTORY
2. CONTRACTS PENDING
e. Sold/Closed Price: The price for which a property sold.
List to Sales Ratio = Sold Price Final List Price
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement.
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
c. Original List Price: The price at which a sold property was originally marketed.
f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
