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 VACANT LANDVACANT LANDVACANT LANDVACANT LAND 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
youwhatexactlydoesitmean?I'mgladbeaskingyourself,that'sgreat...but20.0%(5dividedby25).Soyoumightforsale.Theresultingpendingratioismarketoverall,leaving20listingsstillthereare5salespendingintheattherealestatemarket.Currentlyasked!
existingarenotenoughqualifiedbuyersfortheAlternatively,alowratiomeanstheredemandandquicklygoingtocontract.ahighratiomeansthatlistingsarein&demandofthemarket.Specifically,Thependingratioindicatesthesupplysupply. 5443322110 $0K $100K $200K $300K $400K $500K $600K $700K $800K $900K $1.0M $1.1M $1.2M $1.3M $1.4M Properties For Sale Contracts Pending 543210 $0K $100K $200K $300K $400K $500K $600K $700K $800K $900K $1.0M $1.1M $1.2M $1.3M $1.4M Off-MarketSold Vacant Land Number of Listings For Sale vs. Pending Contract Vacant Land 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
VACANT LANDVACANT LANDVACANT LANDVACANT LAND REAL ESTATE MARKET REPORT listingshasthehighestnumberofoff-markettime.The$200K-$300Kpricerangethoughtsaboutsellingatthisparticularperhapstheownerhadsecondthepropertywasinpoorcondition,orhavingbeeninadequatelymarketed,reasonssuchasbeingpricedtoohigh,time.ListingsmayfailtosellformanyfailedtosellinthatsameperiodofAlternatively,atotalof5listingshavesoldrangecontainsthehighestnumberofwepriceof$399,000.Breakingitdown,thelast6monthswithamediansoldAtotalof12contractshaveclosedinmarketaskingprice)forallpropertiesinthislistings.Themedianlistprice(orinventoryofpropertiesforsaleat4pricerangehasarelativelylargeWealsonoticethatthe$100K-$200Kpendingrelativelylargenumberofcontractsthe$300K-$400KpricerangehasaTakingacloserlook,wenoticethatsale.is$375,000.noticethatthe$300K-$400Kpricelistings.at3properties."Current inventory is described as mildly active."
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future.thatwillcomeontothemarketintheconsiderationanyadditionalpropertiesthatthisestimatedoesnottakeintothesame.ItissignificanttomentionpropertiesifallconditionsremainedselloffthecurrentinventoryofdeterminehowlongitwouldtaketoThisestimateisoftenusedtobasedonthelast6monthsofsales.indicatesaninventoryof10.0monthsAnalysisoftheabsorptionratechanges.rates,theeconomy,orseasonalmanyestatemarketscanfluctuateduetoisalwaysimportanttorealizethatrealitisanegativeindicatorfordemand.ItthemedianDOMforthelast6months,SincetherecentDOMisgreaterthanwasmediansoldpriceforthelast30daysseeninthetwochartsbelow.TheTherecenthistoryofsalescanbequickest$500K-$600Kpricerangehavesoldmarket.Noticethatpropertiesinthepriceof$399,000and23daysonsixmonthsrevealsamediansoldAnalysisofsoldpropertiesforthelastmarket(propertiesforsale)havebeenonthebylowDOM).ActivelistingsDOM),oraseller'smarket(indicatedinabuyer'smarket(indicatedbyhighhelpustodeterminewhetherweareausefulmeasurementbecauseitcanonmarket(DOM)isimportant.ThisismightbewonderingwhyaveragedaysLookingatthecharttotheright,youforamediantimeof132days.overthelastsixmonths.$413,750withaDOMof49days.factors,includingshiftinginterest
for"Themedianlist-to-salesratiothisareais94.1%." 6005004003002001000 $0K $100K $200K $300K $400K $500K $600K $700K $800K $900K $1.0M $1.1M $1.2M $1.3M $1.4M ForSoldSale $600K$500K$400K$300K$200K$100K$0K AprMayJunJulAugSep 140120100806040200 AprMayJunJulAugSep Vacant Land Median Days on Market (DOM) Vacant Land Median Days on Market (Sold) Vacant Land 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
property.buyersdecidehowmuchtoofferonaItisaverycommonmethodtohelplistpricethatthebuyerultimatelypaid.determinethepercentageofthefinalwetypicallyusethelist-to-saleratiotolistpriceandsoldprice.Inourcase,differencebetweentwovaluessuchasRatiosaresimplewaystoexpressthe
VACANT LANDVACANT LANDVACANT LANDVACANT LAND REAL ESTATE MARKET REPORT 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 Date Range (Off-Market & Sold) = 03/06/2022 to 09/04/2022 Data believed to be accurate but not guaranteed. N/AN/A12121824243.6 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=Vacant Land $$399,00094%446,95895%MarketMedians 132375,000$ 23475,000$ $424,000 512 MarketAverages 219553,250$ MarketTotals 20520% 80492,167$ $471,667 0$2,075,000 0 1 $2,075,000$1,400,000+ 2 8989 000$1,300,000$1,399,999 0 000$1,200,000$1,299,999 0 000$1,100,000$1,199,999 0 000$1,000,000$1,099,999 0 000$900,000$999,999 0 $835,000 85% 84950,000$980,000$835,000$ 85% 1 84950,000$980,000$00$800,000$899,999 0 $740,000 97% 223850,000$759,000$740,000$ 97% 1 $650,000 107% 25% $650,000500625,000$ 1 $572,500 0 500625,000317572,500$$ 1 13317 $500,000 13565,000$ $500,000 5 $330,000 102% $479,000 1 33% $365,000 3 50% 0 $400,000$499,999 2 41375,000$$300,000$399,999 3 110279 0 3 94%139265,000$265,000$265,000$250,000$ 94% $200,000$299,999 4 168 Price Range Num # $100,000$199,999 4 117193,250$ 0 Days on Market Current List Price A = Average Value M = Median Value N/A = Not Available 20 ACTIVE [1] ListSale Ratio Est. LowHighMos. 5 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE (months of inventory) Num # Num # Num # 12 SOLD/CLOSED (last 6 months) [4] Days on Market Original List Price Final List Price Sold/ Closed Price MARKET SUMMARY TABLE 5 PENDING [2] $0$99,999 0 Pend Ratio 000 16198,000$198,000$198,000$ 100% $198,000198,000$198,000$ 100%104197,000$ 16 1 139 109262,500$ 0 1 $267,250 89393,600$265,000250,000$$356,600$351,100$ 98% 30500,000$398,000325,000$$500,000$6500,000$435,000$ 87% 1 30 41479,000$ 0 $435,000 88%87% $610,000 107%88% $759,000 14610,00014500,000$565,000$565,000$565,000$$610,000$ 0 223850,000$610,000$0 $700,000$799,999 0 $500,000$599,999 2 $600,000$699,999 3 10 110 3Real Market Reports www.RealMarketReports.com Sunday, September 4, 2022 Market Summary Table Windermere Real Estate/Orcas Island Favors Sellers Favors Buyers
5. ABSORPTION RATE / MONTHS OF INVENTORY
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.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
2. CONTRACTS PENDING
e. Sold/Closed Price: The price for which a property sold.
Real Market Reports www.RealMarketReports.com 4 Sunday, September 4, 2022 Glossary Windermere Real Estate/Orcas Island
c. Current List Price: The price that a property seller is currently asking.
3. OFF-MARKET
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. 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.
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
d. Final List Price: The price at which a sold property was marketed just prior to selling.
4. PROPERTIES SOLD (CLOSED CONTRACT)
c. Original List Price: The price at which a sold property was originally marketed.
1. PROPERTIES FOR SALE (ACTIVE)
f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
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.
List to Sales Ratio = Sold Price Final List Price
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a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement.
