RESIDENTIAL PROPERTY RESIDENTIAL PROPERTY
Windermere Real Estate/Orcas Island
Lookingatthecharttotheright,you mightbewonderingwhyaveragedays onmarket(DOM)isimportant.Thisis ausefulmeasurementbecauseitcan helpustodeterminewhetherweare inabuyer'smarket(indicatedbyhigh DOM),oraseller'smarket(indicated bylowDOM).Activelistings (propertiesforsale)havebeenonthe market for a median time of 115 days.
Analysisofsoldpropertiesforthelast sixmonthsrevealsamediansold priceof$970,000and13dayson market.Noticethatpropertiesinthe $2.7M-$3.0Mpricerangehavesold quickest over the last six months.
Therecenthistoryofsalescanbe seeninthetwochartsbelow.The mediansoldpriceforthelast30days was $944,207 with a DOM of 35 days.
SincetherecentDOMisgreaterthan themedianDOMforthelast6months, itisanegativeindicatorfordemand.It isalwaysimportanttorealizethatreal estatemarketscanfluctuatedueto many factors, including shifting interest rates,theeconomy,orseasonal changes.
"Themedianlist-to-salesratio for this area is 99.0%."
Ratiosaresimplewaystoexpressthe differencebetweentwovaluessuchas listpriceandsoldprice.Inourcase, wetypicallyusethelist-to-saleratioto determinethepercentageofthefinal listpricethatthebuyerultimatelypaid. Itisaverycommonmethodtohelp buyersdecidehowmuchtoofferona property.
Residential Property
Updated
Analysisoftheabsorptionrate indicatesaninventoryof3.6months basedonthelast6monthsofsales. Thisestimateisoftenusedto determinehowlongitwouldtaketo selloffthecurrentinventoryof propertiesifallconditionsremained thesame.Itissignificanttomention thatthisestimatedoesnottakeinto considerationanyadditionalproperties thatwillcomeontothemarketinthe future.
REAL ESTATE MARKET REPORT
0 50 100 150 200 250 300 350 $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 Sold For Sale $0K $200K $400K $600K $800K $1000K $1200K $1400K JulAugSepOctNovDec 0 10 20 30 40 50 60 JulAugSepOctNovDec
Median
Residential Property Median Days on Market (Sold) Residential Property Median Sold Prices 2 Real Market Reports www.RealMarketReports.com
Days on Market (DOM)
12/4/2022, RealMarketReports.com
Copyright © Windermere Real Estate/Orcas Island Updated 12/4/2022, RealMarketReports.com
© Windermere Real Estate/Orcas Island Updated 12/4/2022, RealMarketReports.com Sunday, December 4, 2022 Market Dashboard
Copyright © Windermere Real Estate/Orcas Island
Copyright
176
5 45
37 $1,200,000$1,499,999
6
108
$955,000
17
99% $770,583 16759,500 $ $748,667733,583 $ 98% $925,000 $900,000$1,199,999
36 180787,000 $ N/A 2 1.8 5.1 6 30 N/A 12
$300,000$599,999 Sunday, December 4, 2022 Market Summary Table
$771,000 97% $550,000515,000 $ $495,000 96% 44548,600 $ $521,800505,000 $ N/A N/A 6 3 Real Market Reports www.RealMarketReports.com
$980,000 99% $1,347,333 0
83 838,100,000
101% $1,048,000990,000 $ 91,350,000 $ $1,300,571 11 $1,350,0001,279,000 $ 95% $ $6,187,500 78% $8,100,0007,900,000 $ 39 $1,478,7041,448,823 $
52 $970,000 99%
$600,000$899,999 Windermere Real Estate/Orcas Island Favors Sellers Favors Buyers
RESIDENTIAL PROPERTY RESIDENTIAL 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 M A M A M A M A A M M A M A A M M Date Range (Off-Market & Sold) = 06/05/2022 to 12/04/2022 Data believed to be accurate but not guaranteed. 3.6 1 2 3
1
12
15
0 00 MARKET SUMMARY TABLE 9 PENDING [2] $0$299,999 0 Pend Ratio Num # Num # Num # 49 SOLD/CLOSED (last 6 months) [4] Days on Market Original List Price Final List Price Sold/ Closed Price 17 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE (months of inventory) Days on Market Current List Price A = Average Value M = Median Value N/A = Not Available 29 ACTIVE [1] ListSale Ratio Est. Mos. LowHigh Price Range Num #
$1,500,000$1,799,999 0 1 N/A
$1,800,000$2,099,999 5 $2,147,500 $2,100,000$2,399,999 4
2 3 43% 5
207 0
$2,200,000 2 42
$1,300,571 $1,800,0001,800,000 $ $1,800,000 422,200,000 $ $2,200,000 0000
$1,280,571 98% 83% $2,200,000 83% 93% 4 258 233 $5,012,500 00 $5,000,000
7 9 1041,349,500 $ 1 2
$730,000725,000 $ 321,074,265 $ $1,008,5501,017,189 $ $7,900,000 1749 MarketAverages 150 $2,006,966 MarketTotals 29924% $1,349,565 93% MarketMedians 115 $1,395,000 13990,000 $ $980,000 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 = 901 - Orcas PropertyType = Single Family PropertySubType = Residential
3 38% 1 1
27 200 $1,500,000 271,800,000 $ $1,500,000 1821,962,800 $ 0
$1,500,000 0 2001,500,000 $ 1551,950,000 $ $2,037,500 93% $2,037,500 2072,147,500 $ 0 $2,400,000$2,699,999 0 132,500,000 $ $2,500,000 00 $2,550,000 102% 132,500,000 $ $2,500,0002,550,000 $ 102% 1 $2,700,000$2,999,999 0 63,200,000 $ $3,200,000 1 N/A 1 $2,812,000 88% 63,200,000 $ $3,200,0002,812,000 $ 88% 1 $3,000,000$3,299,999 1 1013,100,000 $ 0 1 1013,100,000 $ 0 $3,300,000$3,599,999 1 113 863,800,000 $ $3,800,000 $3,500,000 00 $3,570,000 94% 1133,500,000 $ 863,800,000 $ $3,800,0003,570,000 $ 94% 1 $3,600,000$3,899,999 0 3073,400,000 $ $3,850,000 1 N/A 0 $3,700,000 96% 3073,400,000 $ $3,850,0003,700,000 $ 96% 1 $3,900,000$4,199,999
$4,200,000+
$6,187,500 78%
Windermere Real Estate/Orcas Island
1. PROPERTIES FOR SALE (ACTIVE)
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement.
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.
2. CONTRACTS PENDING
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
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.
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
3. OFF-MARKET
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)
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
Days on Market (DOM):
6
5. ABSORPTION RATE / MONTHS OF INVENTORY
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.
RESIDENTIAL PROPERTY RESIDENTIAL
REAL ESTATE MARKET REPORT
PROPERTY
b.
The marketing time it has taken properties to sell in the last
months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio = Sold Price Final List Price
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Glossary
December 4, 2022
