Vail Valley / Eagle County
Mar ke t Re p or t Se p t e m b e r 2 0 1 4 - YTD
www.TeamBlackBear.com Info@TeamBlackBear.com 970.337.7777
Monthly Indicators September 2014 Markets across the nation seem to be back on the recovery track after a brief pause. One of the more encouraging aspects of this renewed recovery is that new construction of single-family homes reached six-year highs in August, according to the U.S. Commerce Department. Consumers are also finding more listings in their search results than they have in years. Inventory is rising in many neighborhoods as higher prices have motivated more sellers to list. New Listings were down 8.8 percent for single family/duplex homes but 5 percent for townhouse-condo properties increased 12 12.5 properties. Pending Sales increased 13.2 percent for single family/duplex homes and 12.1 percent for townhouse-condo properties. The Median Sales Price was down 1.0 percent to $772,000 for single family/duplex homes and 8.7 percent to $377,500 for townhouse-condo properties. Months Supply of Inventory increased 2.8 percent for single family/duplex units but decreased 30.7 percent for townhouse-condo units. The departure of investors from the scene should benefit first-time homebuyers, but student debt and sluggish wage growth have slowed that transition. The economy is growing, but it's growing at a slower pace than desired. Thankfully, inflation remains tame, partly enabling the Federal Reserve to keep rates low for longer, contrary to the forecasts of most economists.
Monthly Snapshot + 12.3%
- 19.2%
- 27.5%
One-Year Change in Closed Sales All Properties
One-Year Change in Active Listings All Properties
One-Year Change in Median Sales Price All Properties
Residential real estate activity in Vail Board of REALTORS速 MLS, comprised of single-family properties, townhomes and condominiums.. Percent changes are calculated using rounded figures.
Single Family/Duplex Activity Overview Townhouse-Condo Activity Overview New Listings Pending Sales Closed Sales Median Sales Price Average Sales Price Percent of List Price Received Days on Market Until Sale Housing Affordability Index Inventory of Active Listings Months Supply of Inventory All Properties Activity Overview Closed Sales and Inventory by Price Range Glossary of Terms
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing.
Single Family/Duplex Activity Overview Key metrics for Single Family properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 9-2011
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012 9 2012
9-2013 9 2013
57
52
- 8.8%
734
696
- 5.2%
53
60
+ 13.2%
443
419
- 5.4%
54
54
0.0%
411
370
- 10.0%
$780,000
$772,000
- 1.0%
$571,125
$603,750
+ 5.7%
$ $1,396,172 $ $1,640,748 9-2012
9-2013
Days on Market
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
94.0%
- 1.2%
95.6%
95.4%
- 0.2%
257
190
- 26.1%
165
164
- 0.6%
43
44
+ 2.3%
58
56
- 3.4%
543
479
- 11.8%
--
--
--
10.9
11.2
+ 2.8%
--
--
--
9-2014
Months Supply 9-2011
95.1%
9-2014
Active Listings 9-2011
+ 32.4%
9-2014
Affordability Index 9-2011
$967,784 $ $ $1,281,384
9-2014
` 9-2011
+ 17.5%
9-2014
Pct. of List Price Received 9-2011
Percent Change
9-2014 9 2014
A Avg. Sales S l Price Pi 9-2011
YTD 2013 YTD 2014
9-2014
Median Sales Price 9-2011 9 2011
Percent Change
9-2014
Closed Sales 9-2011
9-2014
9-2014
Pending Sales 9-2011
9-2013
9-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 2
Townhouse-Condo Activity Overview Key metrics for Townhouse-Condo properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 9-2011
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012 9 2012
9-2013 9 2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
66
74
+ 12.1%
446
523
+ 17.3%
60
74
+ 23.3%
398
450
+ 13.1%
$413,500
$377,500
- 8.7%
$414,000
$481,250
+ 16.2%
$ $866,646
$ $772,149
- 10.9%
$784,288 $
$ $957,811
+ 22.1%
94.3%
96.2%
+ 2.0%
94.8%
95.4%
+ 0.6%
185
168
- 9.2%
207
190
- 8.2%
81
90
+ 11.1%
81
71
- 12.3%
541
397
- 26.6%
--
--
--
11.4
7.9
- 30.7%
--
--
--
9-2014
Months Supply 9-2011
+ 3.3%
9-2014
Active Listings 9-2011
652
9-2014
Affordability Index 9-2011
631
9-2014
Days on Market 9-2011
+ 12.5%
9-2014
Pct. of List Price Received 9-2011
54
Percent Change
9-2014 9 2014
A Avg. Sales S l Price Pi 9-2011
48
YTD 2013 YTD 2014
9-2014
Median Sales Price 9-2011 9 2011
Percent Change
9-2014
Closed Sales 9-2011
9-2014
9-2014
Pending Sales 9-2011
9-2013
9-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 3
New Listings A count of the properties that have been newly listed on the market in a given month.
Year to Date
September 57
56
54
52
734 696
48
47
2012
708
2013
- 14.5% 14 5% + 21.3% 21 3%
659
631
652
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
-8 8.8% 8%
- 5.1% 5 1%
14.3% - 14 3%
+ 12.5% 12 5%
+ 0.7% 0 7%
+ 3.7% 3 7%
- 5.2% 5 2%
1 2% + 1.2%
-4 4.2% 2%
+ 3.3% 3 3%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
New Listings
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
62
+29.2%
53
-10.2%
Nov-2013
40
-24.5%
49
-21.0%
Dec-2013
33
-37.7%
66
0.0%
Jan-2014
57
+7.5%
53
-3.6%
Feb-2014
35
-48.5%
55
0.0%
Mar-2014
67
+17.5%
74
+17.5%
Apr-2014
77
+16.7%
72
+53.2%
May-2014
99
+12.5%
91
+24.7%
Jun-2014
141
-4.1%
112
-3.4%
Jul-2014
89
-29.4%
89
-6.3%
Aug-2014
79
+9.7%
52
-34.2%
Sep-2014
52
-8.8%
54
+12.5%
12-Month 12 Month Avg
69
-6.4% 6.4%
68
+0.2%
Townhouse-Condo
Historical New Listings by Month
Single Family/Duplex
Townhouse-Condo
200
175
150
125
100
75
50
25 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Pending Sales A count of the properties on which offers have been accepted in a given month.
Year to Date
September
Single Family/Duplex
Year-Over-Year Change
Oct-2013
37
-42.2%
45
-23.7%
Nov-2013
38
-2.6%
30
-11.8%
Dec-2013
22
-26.7%
30
-16.7%
Jan-2014
38
-7.3%
49
+19.5%
Feb-2014
37
-9.8%
47
+34.3%
Mar-2014
49
-22.2%
50
+4.2%
Apr-2014
42
-16.0%
70
+79.5%
May-2014
36
+20.0%
35
-32.7%
Jun-2014
43
-10.4%
40
+14.3%
Jul-2014
59
+22.9%
71
+7.6%
Aug-2014
55
-20.3%
87
+35.9%
Sep-2014
60
+13.2%
74
+12.1%
12-Month 12 Month Avg
43
-10.4% 10.4%
52
+9.2%
Pending Sales
74 66
468
60
59
523 443
462
446
419
53 48
2012
2013
+ 40.5% 40 5% - 10.2% 10 2%
2014
2012
+ 13.2% 13 2%
+ 9.1% 9 1%
Single Family/Duplex
2013
2014
+ 37.5% 37 5% + 12.1% 12 1%
Townhouse-Condo
2012
2013
2014
2012
2013
2014
44 0% + 44.0%
- 5.3% 5 3%
- 5.4% 5 4%
28 0% + 28.0%
-3 3.5% 5%
+ 17.3% 17 3%
Single Family/Duplex
TownhouseCondo
Year-Over-Year Change
Townhouse-Condo
Historical Pending Sales by Month
Single Family/Duplex
100
Townhouse-Condo
80
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Closed Sales A count of the actual sales that closed in a given month.
Year to Date
September 74
73 69
450 403
411
2012
2013
+ 55.3% 55 3% - 26 26.0% 0%
398 370
60 54
423
54
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
0.0% 0 0%
56.8% + 56 8%
13.0% - 13 0%
+ 23.3% 23 3%
42 4% + 42.4%
2.0% +2 0%
- 10 10.0% 0%
+ 19.5% 19 5%
-5 5.9% 9%
+ 13.1% 13 1%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Closed Sales
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
57
-16.2%
72
-1.4%
Nov-2013
42
-31.1%
42
-10.6%
Dec-2013
45
-21.1%
39
-20.4%
Jan-2014
25
+8.7%
30
-3.2%
Feb-2014
30
-16.7%
33
+3.1%
Mar-2014
28
-24.3%
51
+45.7%
Apr-2014
47
-11.3%
51
+21.4%
May-2014
45
-22.4%
59
+15.7%
Jun-2014
46
+9.5%
44
+10.0%
Jul-2014
44
-8.3%
49
+16.7%
Aug-2014
51
-15.0%
59
-9.2%
Sep-2014
54
0.0%
74
+23.3%
12-Month 12 Month Avg
43
-13.9% 13.9%
50
+6.3%
Townhouse-Condo
Historical Closed Sales by Month
Single Family/Duplex
Townhouse-Condo
80
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
Year to Date
September
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
$710,000
+37.2%
$450,000
+30.4%
Nov-2013
$722,000
+31.3%
$435,000
+22.5%
Dec-2013
$595,000
-6.3%
$425,300
-6.5%
Jan-2014
$545,000
+75.8%
$817,500
+107.0%
Feb-2014
$873,750
+18.6%
$875,000
+127.9%
Mar-2014
$761,000
+24.2%
$585,000
+14.3%
Apr-2014
$744,000
+31.7%
$755,000
+11.9%
May-2014
$585,000
+1.4%
$500,000
+51.5%
Jun-2014
$535,500
+16.7%
$366,250
+16.9%
Jul-2014
$557,500
+3.4%
$427,000
+2.6%
Aug-2014
$455,000
-0.1%
$450,000
0.0%
Sep-2014
$772,000
-1.0%
$377,500
-8.7%
12-Month 12 Month Avg Avg*
$630,057
+11.5%
$470,000
+19.0%
Median Sales Price
$603,750
$780,000 $772,000
$571,125 $535,000
$635,000
$481,250 $414,000 $367,000 $413,500 $377,500
$367,000
2012
2013
2014
2012
2013
2014
2012
2013
2014
2012
+ 2.4% 2 4%
22.8% + 22 8%
-1 1.0% 0%
- 5.4% 5 4%
+ 12.7% 12 7%
- 8.7% 8 7%
5 5% + 5.5%
6.8% +6 8%
5.7% +5 7%
13 6% - 13.6%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
2013
2014
+ 12.8% 12 8% + 16 16.2% 2%
Townhouse-Condo
Historical Median Sales Price by Month
* Median Sales Price for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Single Family/Duplex
Townhouse-Condo
1-2013
1-2014
$2,000,000
$1,750,000
$1,500,000
$1,250,000
$1,000,000
$750,000
$500,000
$250,000 1-2009
1-2010
1-2011
1-2012
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Year to Date
September
Single Family/Duplex
Year-Over-Year Change
Oct-2013
$1,346,206
+56.0%
$722,328
-10.7%
Nov-2013
$1,406,825
+15.0%
$1,017,538
+31.3%
Dec-2013
$1,253,751
+16.6%
$878,973
-10.1%
Jan-2014
$1,205,468
+85.0%
$1,390,563
+113.2%
Feb-2014
$1,098,540
-27.4%
$1,201,270
+28.4%
Mar-2014
$1,482,573
+78.0%
$849,114
-8.4%
Apr-2014
$2,160,310
+157.1%
$1,492,858
+51.2%
May-2014
$1,239,178
+9.3%
$1,097,950
+75.4%
Jun-2014
$1,048,943
+33.1%
$720,431
+37.2%
Jul-2014
$848,849
-5.9%
$906,673
+58.7%
Aug-2014
$745,265
+26.3%
$545,277
-40.1%
Sep-2014
$1,640,748
+17.5%
$772,149
-10.9%
12-Month 12 Month Avg Avg* $1,296,403
+30.7%
$928,754
+15.6%
Avg. Sales Price $1,281,384
$1,640,748 $1,184,763 $1,396,172 $967,784
$957,811
TownhouseCondo
Year-Over-Year Change
$1,115,634 $779,594
$784,288
$866,646 $772,149 $658,105
2012
2013
25 1% + 27.3% 27 3% + 25.1%
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
+ 17.5% 17 5%
4 6% - 4.6%
+ 31.7% 31 7%
- 10.9% 10 9%
13 3% + 13.3%
- 18 18.3% 3%
+ 32.4% 32 4%
15 7% - 15.7%
0.6% +0 6%
22.1% + 22 1%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Townhouse-Condo
Historical Average Sales Price by Month
* Avg. Sales Price for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Single Family/Duplex
Townhouse-Condo
1-2013
1-2014
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000 1-2009
1-2010
1-2011
1-2012
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Percent of List Price Received Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Year to Date
September 94.1% 95.1% 94.0%
93.9% 94.3% 96.2%
93.6% 95.6% 95.4%
93.8% 94.8% 95.4%
2012
2013
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
+ 1.5% 1 5%
+ 1.1% 1 1%
- 1.2% 1 2%
1.5% +1 5%
+ 0.4% 0 4%
+ 2.0% 2 0%
0 9% + 0.9%
2.1% +2 1%
-0 0.2% 2%
+ 1.0% 1 0%
1.1% +1 1%
0.6% +0 6%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
95.5%
+1.8%
94.1%
+0.2%
Nov-2013
95.6%
+2.1%
95.3%
+0.8%
Dec-2013
95.0%
+1.6%
95.9%
-0.2%
Jan-2014
95.9%
-0.6%
94.3%
-1.4%
Feb-2014
94.2%
+0.7%
94.0%
-1.5%
Mar-2014
96.2%
-0.1%
94.9%
-0.1%
Apr-2014
95.0%
+0.6%
93.5%
-0.7%
May-2014
96.4%
-0.4%
95.6%
+0.3%
Jun-2014
95.9%
+0.4%
95.9%
+0.8%
Jul-2014
95.4%
+0.7%
96.3%
+1.5%
Aug-2014
96.2%
-0.8%
96.5%
+2.7%
Sep-2014
94.0%
-1.2%
96.2%
+2.0%
12-Month 12 Month Avg Avg*
95.4%
+0.4%
95.3%
+0.6%
Pct. of List Price Received
Single Family/Duplex
Townhouse-Condo
Historical Percent of List Price Received by Month
* Pct. of List Price Received for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Single Family/Duplex
Townhouse-Condo
100.0%
95.0%
90.0%
85.0%
80.0%
75.0%
70.0% 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORSÂŽ MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.
Year to Date
September
Single Family/Duplex
Year-Over-Year Change
Oct-2013
140
-15.2%
203
-3.8%
Nov-2013
173
+9.5%
213
+5.4%
Dec-2013
135
-32.2%
277
+18.9%
Jan-2014
152
-18.7%
197
+28.8%
Feb-2014
239
+22.6%
182
+16.7%
Mar-2014
180
+100.0%
341
+11.8%
Apr-2014
206
-6.8%
243
+1.7%
May-2014
200
+21.2%
158
-7.1%
Jun-2014
116
-1.7%
169
-17.2%
Jul-2014
110
-17.3%
141
-30.9%
Aug-2014
110
-0.9%
131
-44.3%
Sep-2014
190
-26.1%
168
-9.2%
12-Month 12 Month Avg Avg*
168
-4.8% 4.8%
209
-4.8% 4.8%
Days on Market
212
257
207 190
181 190
196
165 185
169
2012
164
168
2013
- 21.8% 21 8% + 52.1% 52 1%
2014
2012
2013
2014
2012
2013
2014
2012
2013
2014
- 26.1% 26 1%
- 20.3% 20 3%
- 5.6% 5 6%
- 9.2% 9 2%
2% - 19 19.2%
- 8.8% 8 8%
- 0.6% 0 6%
6% -6 6.6%
-2 2.4% 4%
- 8.2% 8 2%
Single Family/Duplex
Townhouse-Condo
Single Family/Duplex
Townhouse-Condo
Historical Days on Market Until Sale by Month
TownhouseCondo
Year-Over-Year Change
* Days on Market for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Single Family/Duplex
Townhouse-Condo
500
400
300
200
100
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Housing Affordability Index This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Year to Date
September
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
47
-33.8%
74
-30.2%
Nov-2013
49
-26.9%
81
-22.1%
Dec-2013
57
-3.4%
79
-3.7%
Jan-2014
61
-48.3%
40
-57.0%
Feb-2014
38
-22.4%
38
-59.1%
Mar-2014
44
-24.1%
57
-18.6%
Apr-2014
45
-29.7%
44
-18.5%
May-2014
59
-3.3%
69
-34.9%
Jun-2014
64
-11.1%
94
-11.3%
Jul-2014
61
-1.6%
80
0.0%
Aug-2014
75
+4.2%
76
+4.1%
Sep-2014
44
+2.3%
90
+11.1%
12-Month 12 Month Avg Avg*
54
-33.6% 33.6%
66
+3.2%
Affordability Index
101
101 90 81
81 71
69 58
58 43
56
44
2012
2013
2014
2012
2013
2014
2012
+ 5.5% 5 5%
- 25.9% 25 9%
+ 2.3% 2 3%
+ 14.8% 14 8%
- 19 19.8% 8%
+ 11.1% 11 1%
+1 5% 1.5%
Single Family/Duplex
Townhouse-Condo
2013
15 9% - 15.9%
2014
4% -3 3.4%
Single Family/Duplex
2012
+ 24 7% 24.7%
2013
- 19 8% 19.8%
2014
- 12.3% 12 3%
Townhouse-Condo
Historical Housing Affordability Index by Month
* Affordability Index for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Single Family/Duplex
Townhouse-Condo
120
100
80
60
40
20
0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Inventory of Active Listings The number of properties available for sale in active status at the end of a given month.
September 665
623 543
541 479 397
2012 0% - 14 14.0%
2013 - 12.8% 12 8%
2014 - 11.8% 11 8%
2012 5% - 18 18.5%
Single Family/Duplex
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
535
-3.4%
507
-19.1%
Nov-2013
504
-6.5%
500
-20.4%
Dec-2013
469
-6.9%
495
-17.9%
Jan-2014
461
-4.2%
487
-15.9%
Feb-2014
444
-9.2%
481
-17.2%
Mar-2014
447
-3.5%
491
-15.1%
Apr-2014
450
-1.3%
457
-14.6%
May-2014
489
+3.4%
481
-9.6%
Jun-2014
551
+0.5%
527
-10.4%
Jul-2014
559
-7.3%
529
-12.3%
Aug-2014
556
-4.0%
467
-21.2%
Sep-2014
479
-11.8%
397
-26.6%
12-Month 12 Month Avg
495
-4.6% 4.6%
485
-16.7% 16.7%
Active Listings
2013 - 18 18.6% 6%
2014 - 26 26.6% 6%
Townhouse-Condo
Historical Inventory of Active Listings by Month
Single Family/Duplex
Townhouse-Condo
1,200
1,000
800
600
400
200 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 12
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months.
September
Single Family/Duplex
Year-Over-Year Change
TownhouseCondo
Year-Over-Year Change
Oct-2013
11.0
-9.8%
10.7
-16.4%
Nov-2013
10.7
-7.0%
10.7
-16.4%
Dec-2013
10.1
-1.9%
10.8
-11.5%
Jan-2014
9.9
0.0%
10.6
-10.2%
Feb-2014
9.7
-2.0%
10.5
-11.8%
Mar-2014
9.9
+6.5%
10.4
-14.0%
Apr-2014
10.1
+13.5%
9.5
-16.7%
May-2014
11.2
+19.1%
9.9
-10.0%
Jun-2014
12.5
+14.7%
10.8
-12.2%
Jul-2014
12.8
+9.4%
10.7
-14.4%
Aug-2014
13.0
+15.0%
9.5
-23.4%
Sep-2014
11.2
+2.8%
7.9
-30.7%
12-Month 12 Month Avg
11.0
+4.7%
10.2
-15.7% 15.7%
Months Supply
14.4
14.2
11.4
11.2
10.9
7.9
2012 9% - 36 36.9%
2013 - 23.2% 23 2%
2014 +2 2.8% 8%
2012 4% - 29 29.4%
Single Family/Duplex
2013 - 20 20.8% 8%
2014 - 30 30.7% 7%
Townhouse-Condo
* Months Supply for all properties from October 2013 through September 2014. This is not the average of the individual figures above.
Historical Months Supply of Inventory by Month
Single Family/Duplex
Townhouse-Condo
50.0
40.0
30.0
20.0
10.0
0.0 1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 13
All Properties Activity Overview Key metrics for All Properties by report month and for year-to-date (YTD) starting from the first of the year.
Key Metrics
Historical Sparkbars
New Listings 9-2011
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012 9 2012
9-2013 9 2013
105
106
+ 1.0%
1,365
1,348
- 1.2%
119
134
+ 12.6%
889
942
+ 6.0%
114
128
+ 12.3%
809
820
+ 1.4%
$652,000
$472,500
- 27.5%
$510,000
$549,950
+ 7.8%
+ 1.9%
$877,510 $1,103,813 $ $
$ $1,117,474 $ $1,138,589 9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
9-2012
9-2013
95.2%
95.4%
+ 0.2%
219
177
- 19.2%
185
178
- 3.8%
51
72
+ 40.6%
65
62
- 5.5%
1,084
876
- 19.2%
--
--
--
11.2
9.4
- 16.1%
--
--
--
9-2014
Months Supply 9-2011
+ 0.5%
9-2014
Active Listings 9-2011
95.2%
9-2014
Affordability Index 9-2011
94.7% 9-2014
Days on Market 9-2011
+ 25.8%
9-2014
Pct. of List Price Received 9-2011
Percent Change
9-2014 9 2014
A Avg. Sales S l Price Pi 9-2011
YTD 2013 YTD 2014
9-2014
Median Sales Price 9-2011 9 2011
Percent Change
9-2014
Closed Sales 9-2011
9-2014
9-2014
Pending Sales 9-2011
9-2013
9-2014
Current as of October 6, 2014. All data from the Vail Board of REALTORS速 MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 14
Closed Sales Actual sales that have closed in a given quarter.
By Price Range – All Properties – Rolling 12 Months 319
356
9-2013
By Property Type
9-2014
9-2013
9-2014
399 217
207
1,164
201
104
102
58
59
26
62
38
74
18
597
32
4
5
567
514
1,117
603
- 35.1%
+ 12.1%
- 7.4%
- 1.9%
+ 1.7%
+ 46.2%
+ 19.4%
+ 77.8%
+ 25.0%
- 13.9%
+ 6.3%
- 4.0%
< $300K
$300K to $599K
$600K to $999K
$1.0M to $1.4M
$1.5M to $1.9M
$2.0M to $2.5M
$2.5M to $4.9M
$5.0M to $9.9M
$10.0M+
Singe Family
Townhouse-Condo
All Properties
Rolling 12 Months Single Family Condo By Price Range $299,999 and Below $300,000 to $599,999 $600,000 to $999,999 $1,000,000 to $1,499,999 $1,500,00 to $1,999,999 $2,000,000 to $2,499,999 $2,500,000 to $4,999,999 $5,000,000 to $9,999,999 $10,000,000 and Above All Price Ranges
9-2013 132 184 127 58 34 16 32 11 3 597
9-2014 75 172 100 52 31 21 42 16 5 514
Change - 43.2% - 6.5% - 21.3% - 10.3% - 8.8% + 31.3% + 31.3% + 45.5% + 66.7% - 13.9%
9-2013 187 172 90 46 24 10 30 7 1 567
9-2014 132 227 101 50 28 17 32 16 0 603
Compared to Prior Month Single Family Condo Change - 29.4% + 32.0% + 12.2% + 8.7% + 16.7% + 70.0% + 6.7% + 128.6% - 100.0% + 6.3%
8-2014 10 14 7 1 5 1 6 1 0 45
9-2014 7 14 9 7 7 3 4 2 1 54
Change - 30.0% 0.0% + 28.6% + 600.0% + 40.0% + 200.0% - 33.3% + 100.0% -+ 20.0%
8-2014 11 25 8 3 3 2 4 3 0 59
9-2014 15 35 14 3 3 0 2 2 0 74
Year to Date Single Family Change + 36.4% + 40.0% + 75.0% 0.0% 0.0% - 100.0% - 50.0% - 33.3% -+ 25.4%
Condo
YTD 2013 YTD 2014 Change YTD 2013 YTD 2014 Change 91 56 - 38.5% 123 99 - 19.5% 122 126 + 3.3% 122 162 + 32.8% 91 73 - 19.8% 68 73 + 7.4% 42 38 - 9.5% 34 42 + 23.5% 27 21 - 22.2% 21 22 + 4.8% 9 11 + 22.2% 8 14 + 75.0% 20 31 + 55.0% 17 28 + 64.7% 8 10 + 25.0% 5 10 + 100.0% 1 4 + 300.0% 0 0 -411 370 - 10.0% 398 450 + 13.1%
Inventory of Active Listings A measure of the number of homes available for sale at a given time.
By Price Range – All Properties 189 69
150
219
9-2013
172
137
46
By Property Type
9-2014
184
104
93
85
65
64
145
9-2013
9-2014
1,084 93
84
35
543
26
541
479
876
397
- 33.3%
- 20.6%
- 21.5%
- 24.1%
- 8.6%
- 1.5%
- 21.2%
- 9.7%
- 25.7%
- 11.8%
- 26.6%
- 19.2%
< $300K
$300K to $599K
$600K to $999K
$1.0M to $1.4M
$1.5M to $1.9M
$2.0M to $2.5M
$2.5M to $4.9M
$5.0M to $9.9M
$10.0M+
Singe Family
Townhouse-Condo
All Properties
Year over Year Single Family By Price Range $299,999 and Below $300,000 to $599,999 $600,000 to $999,999 $1,000,000 to $1,499,999 $1,500,00 to $1,999,999 $2,000,000 to $2,499,999 $2,500,000 to $4,999,999 $5,000,000 to $9,999,999 $10,000,000 and Above All Price Ranges
9-2013 27 63 109 74 49 38 101 55 27 543
9-2014 18 59 95 55 52 38 92 51 19 479
Change - 33.3% - 6.3% - 12.8% - 25.7% + 6.1% 0.0% - 8.9% - 7.3% - 29.6% - 11.8%
Compared to Prior Month Single Family Condo
Condo 9-2013 42 126 110 63 44 27 83 38 8 541
9-2014 28 91 77 49 33 26 53 33 7 397
Change - 33.3% - 27.8% - 30.0% - 22.2% - 25.0% - 3.7% - 36.1% - 13.2% - 12.5% - 26.6%
8-2014 23 67 93 60 47 35 97 46 21 489
9-2014 18 59 95 55 52 38 92 51 19 479
Change - 21.7% - 11.9% + 2.2% - 8.3% + 10.6% + 8.6% - 5.2% + 10.9% - 9.5% - 2.0%
8-2014 43 153 82 42 34 25 58 37 7 481
9-2014 28 91 77 49 33 26 53 33 7 397
Year to Date Single Family Change - 34.9% - 40.5% - 6.1% + 16.7% - 2.9% + 4.0% - 8.6% - 10.8% 0.0% - 17.5%
Condo
There are no year-to-date figures for inventory because it is simply a snapshot frozen in time at the end of each month. It does not add up over a period of months.
Current as of October 6, 2014. All data from the Vail Board of REALTORS® MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 15
Glossary of Terms A research tool provided by the Colorado Association of REALTORSÂŽ
New Listings
A measure of how much new supply is coming onto the market from sellers (e.g., Q3 New Listings are those listings with a system list date from July 1 through September 30).
Pending Sales
A count of all the listings that went into Pending during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand.
Closed Sales
A measure of home sales that were closed to completion during the report period.
Median Sales Price
A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.
Average Sales Price
A sum of all home sales prices divided by total number of sales.
Percent of List Price Received
A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.
Days on Market Until Sale
A measure of how long it takes homes to sell, on average.
Housing Affordability Index
A measure of how affordable a regionâ&#x20AC;&#x2122;s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.
Inventory of Active Listings
A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices.
Months Supply of Inventory
A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale.
Current as of October 6, 2014. All data from the Vail Board of REALTORSÂŽ MLS. Powered by 10K Research and Marketing. | Click for Cover Page | 16