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 RESIDENTIAL PROPERTYRESIDENTIAL PROPERTY 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
RESIDENTIAL PROPERTYRESIDENTIAL PROPERTY REAL ESTATE MARKET REPORT listingshasahighnumberofoff-markettime.The$600K-$900Kpricerangethoughtsaboutsellingatthisparticularperhapstheownerhadsecondthepropertywasinpoorcondition,orhavingbeeninadequatelymarketed,reasonssuchasbeingpricedtoohigh,time.ListingsmayfailtosellformanyfailedtosellinthatsameperiodofAlternatively,atotalof11listingshavesoldrangecontainsthehighestnumberofwenoticethatthe$900K-$1.2Mpricepriceof$967,500.Breakingitdown,thelast6monthswithamediansoldAtotalof46contractshaveclosedinmarketaskingprice)forallpropertiesinthislistings.Themedianlistprice(orinventoryofpropertiesforsaleat9pricerangehasarelativelylargeWealsonoticethatthe$600K-$900Kpendingrelativelylargenumberofcontractsthe$600K-$900KpricerangehasaTakingacloserlook,wenoticethatsale.is$1,890,000.listings.at3properties."Current inventory is described as mildly active." gladbutwhatexactlydoesitmean?I'mmightbeaskingyourself,that'sgreat...20.4%(10dividedby49).Soyouforsale.Theresultingpendingratioismarketoverall,leaving39listingsstillthereare10salespendingintheattherealestatemarket.Currentlyyouasked! existingarenotenoughqualifiedbuyersfortheAlternatively,alowratiomeanstheredemandandquicklygoingtocontract.ahighratiomeansthatlistingsarein&demandofthemarket.Specifically,Thependingratioindicatesthesupplysupply. 109876543210 $0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M Properties For Sale Contracts Pending 20181614121086420 $0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M Off-MarketSold Residential Property Number of Listings For Sale vs. Pending Contract Residential Property 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
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for"Themedianlist-to-salesratiothisareais99.3%." 500450400350300250200150100500 $0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M ForSoldSale $1600K$1400K$1200K$1000K$800K$600K$400K$200K$0K AprMayJunJulAugSep 6050403020100 AprMayJunJulAugSep Residential Property Median Days on Market (DOM) Residential Property Median Days on Market (Sold) Residential Property 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
future.thatwillcomeontothemarketintheconsiderationanyadditionalpropertiesthatthisestimatedoesnottakeintothesame.ItissignificanttomentionpropertiesifallconditionsremainedselloffthecurrentinventoryofdeterminehowlongitwouldtaketoThisestimateisoftenusedtobasedonthelast6monthsofsales.indicatesaninventoryof5.1monthsAnalysisoftheabsorptionratechanges.rates,theeconomy,orseasonalmanyestatemarketscanfluctuateduetoisalwaysimportanttorealizethatrealitisanegativeindicatorfordemand.ItthemedianDOMforthelast6months,SincetherecentDOMisgreaterthandays.was$1,029,000withaDOMof15mediansoldpriceforthelast30daysseeninthetwochartsbelow.TheTherecenthistoryofsalescanbequickest$0K-$300Kpricerangehavesoldmarket.Noticethatpropertiesinthepriceof$967,500and11daysonsixmonthsrevealsamediansoldAnalysisofsoldpropertiesforthelastmarket(propertiesforsale)havebeenonthebylowDOM).ActivelistingsDOM),oraseller'smarket(indicatedinabuyer'smarket(indicatedbyhighhelpustodeterminewhetherweareausefulmeasurementbecauseitcanonmarket(DOM)isimportant.ThisismightbewonderingwhyaveragedaysLookingatthecharttotheright,youforamediantimeof77days.overthelastsixmonths.factors,includingshiftinginterest
property.buyersdecidehowmuchtoofferonaItisaverycommonmethodtohelplistpricethatthebuyerultimatelypaid.determinethepercentageofthefinalwetypicallyusethelist-to-saleratiotolistpriceandsoldprice.Inourcase,differencebetweentwovaluessuchasRatiosaresimplewaystoexpressthe
RESIDENTIAL PROPERTYRESIDENTIAL PROPERTY REAL ESTATE MARKET REPORT A M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A A M M A M A M A M A A M M Date Range (Off-Market & Sold) = 03/06/2022 to 09/04/2022 Data believed to be accurate but not guaranteed. N/A361218183361.55.40.9 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 = Residential $967,500 99% $1,256,859 95% MarketMedians 77 $1,890,000 11983,500$ $974,500 1146 MarketAverages 113 $2,083,538 MarketTotals 391020% 36 $1,362,4571,324,109$ $7,900,0006,350,000$ 80% 1 827,900,00082$ $6,350,000 80%$7,900,0007,900,000$$5,966,667 00 $5,500,000$4,200,000+ 3 285273 000$3,900,000$4,199,999 0 1683,725,000$ 0$3,725,000 1 33% 0$3,600,000$3,899,999 2 168223,500,000$ 0$3,500,000 00$3,300,000$3,599,999 1 313,162,50022$ 0$3,162,500 00$3,000,000$3,299,999 2 31 $2,831,000 94% 4542,900,000$ 83,025,000$3,025,000$2,831,000$ 94% 2 83,025,000$3,025,000$$2,900,000 0 1$2,700,000$2,999,999 1 454 $2,575,000 97% 1432,500,000$ 102,650,000$2,650,000$2,575,000$ 97% 2 102,650,000$2,650,000$$2,500,000 0 1$2,400,000$2,699,999 1 143 $2,200,000 100% 1012,200,000$ 62,200,000$2,200,000$2,200,000$ 100% 1 $1,981,250 89% $1,981,250801,933,750$ 0 $1,625,000 0 1091,600,000$621,925,000$ 1 27101 $1,500,000 271,800,000$ $1,500,000 19 $980,000 98% $1,313,000 3 50% $1,063,000 0 3 $1,200,000$1,499,999 3 601,049,000$$900,000$1,199,999 3 1142 4 31% 3 104%14772,500$790,200$763,800$758,300$ 99% $600,000$899,999 9 85 Price Range Num # 100% $300,000$599,999 1 4599,000$ 2 67% Days on Market Current List Price A = Average Value M = Median Value N/A = Not Available 39 ACTIVE [1] ListSale Ratio Est. LowHighMos. 11 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE (months of inventory) Num # Num # Num # 46 SOLD/CLOSED (last 6 months) [4] Days on Market Original List Price Final List Price Sold/ Closed Price MARKET SUMMARY TABLE 10 PENDING [2] $0$299,999 0 Pend Ratio 00 1 6175,0006175,000$$175,000$175,000$ 100% 33536,000$175,000175,000$$523,500$520,000$ 99% $542,000517,000$515,000$ 100%4599,000$ 13 10 35 78749,000$ 14 $767,889 401,073,842$762,000790,000$$1,015,947$1,011,737$ 100% 1151,395,000$1,048,000995,000$$1,333,000$1,395,000$1,350,000$ 97% 3 6 751,349,000$ 1 $1,310,000 83%98% $2,225,000 89%83% $2,200,000 1132,400,0001131,333,000$1,800,000$1,800,000$1,800,000$$2,225,000$ 0 62,200,000$2,400,000$1 $2,239,167$2,100,000$2,399,999 6 143 $1,500,000$1,799,999 3 $1,800,000$2,099,999 4 5.1 200 3Real Market Reports www.RealMarketReports.com Sunday, September 4, 2022 Market Summary Table Windermere Real Estate/Orcas Island Favors Sellers Favors Buyers
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
RESIDENTIAL PROPERTYRESIDENTIAL PROPERTY REAL ESTATE MARKET REPORT
e. Sold/Closed Price: The price for which a property sold.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
2. CONTRACTS PENDING
Real Market Reports www.RealMarketReports.com 4 Sunday, September 4, 2022 Glossary Windermere Real Estate/Orcas Island
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.
d. Final List Price: The price at which a sold property was marketed just prior to selling.
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement.
5. ABSORPTION RATE / MONTHS OF INVENTORY
1. PROPERTIES FOR SALE (ACTIVE)
c. Current List Price: The price that a property seller is currently asking.
c. Original List Price: The price at which a sold property was originally marketed.
List to Sales Ratio = Sold Price Final List Price
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
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.
f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
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
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.
3. OFF-MARKET
4. PROPERTIES SOLD (CLOSED CONTRACT)
