November 2014 Market Report

REAL ESTATE MARKET REPORT
SINGLE FAMILY LAFAYETTE
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TABLE OF CONTENTS
Charts and Commentary ……………………………………………….. Pages 1-2
Market Summary Table ……………………………………………….. Page 3
Glossary ………………………………………………………………... Page 4
Robbie Breaux & Team
Van Eaton & Romero - A Latter & Blum Company
2000 Kaliste Saloom Road, Ste 101
Lafayette, Louisiana 70508
www.RobbieBreaux.com
info@robbiebreaux.com
(337) 267-4099
Each Office Independently Owned & Operated
Licensed in Louisiana
breauxknows
breauxknows
broknoz
Real Market Reports
www.RealMarketReports.com

(337) 267-4099
Taking a closer look, we notice that
the $150K - $200K price range has a
relatively large number of contracts
pending sale.
We also notice that the $150K - $200K
price range has a relatively large
inventory of properties for sale at 190
listings. The median list price (or
asking price) for all properties in this
market is $234,900.
Number of Listings For Sale vs. Pending Contract
A total of 3184 contracts have closed
in the last 6 months with a median sold
price of $190,000. Breaking it down,
we notice that the $150K - $200K price
range contains the highest number of
sold listings.
Alternatively, a total of 1029 listings
have failed to sell in that same period
of time. Listings may fail to sell for
many reasons such as being priced
too high, having been inadequately
marketed, the property was in poor
condition, or perhaps the owner had
second thoughts about selling at this
particular time. The $150K - $200K
price range has the highest number of
off-market listings at 272 properties.
"Current inventory is described
as mildly active."
at the real estate market. Currently
there are 376 sales pending in the
market overall, leaving 954 listings still
for sale. The resulting pending ratio is
28.3% (376 divided by 1,330). So you
might be asking yourself, that's great...
but what exactly does it mean? I'm
glad you asked!
The pending ratio indicates the supply
& demand of the market. Specifically,
a high ratio means that listings are in
demand and quickly going to contract.
Alternatively, a low ratio means there
are not enough qualified buyers for the
existing supply.
200
180
160
140
120
100
80
60
40
20
0
$0K
$50K
$100K
$150K
$200K
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Properties For Sale
Contracts Pending
1200
1000
800
600
400
200
0
$0K
$50K
$100K
$150K
$200K
Num Sold vs. Off-Market (Last 6 mos.)
$250K
$300K
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
Off-Market
Single Family Lafayette
Let's take a look
Real Market Reports 1
Updated 12/4/2014, RealMarketReports.com
Copyright © Robbie Breaux & Team
Thursday, December 4, 2014
Market Dashboard

(337) 267-4099
Median Days on Market (DOM)
Analysis of the absorption rate
indicates an inventory of 1.8 months
based on the last 6 months of sales.
This estimate is often used to
determine how long it would take to
sell off the current inventory of
properties if all conditions remained
the same. It is significant to mention
that this estimate does not take into
consideration any additional properties
that will come onto the market in the
future.
Looking at the chart to the right, you
might be wondering why average days
on market (DOM) is important. This is
a useful measurement because it can
help us to determine whether we are
in a buyer's market (indicated by high
DOM), or a seller's market (indicated
by low DOM). Active listings
(properties for sale) have been on the
market for a median time of 88 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $190,000 and 53 days on
market. Notice that properties in the
$100K - $150K price range have sold
quickest over the last six months.
The recent history of sales can be
seen in the two charts below. The
median sold price for the last 30 days
was $173,750 with a DOM of 98 days.
Since the recent DOM is greater than
the median DOM for the last 6 months,
it is a negative indicator for demand. It
is always important to realize that real
estate markets can fluctuate due to
many factors, including shifting interest
rates, the economy, or seasonal
changes.
300
250
200
150
100
50
0
$0K
$50K
$100K
$150K
$200K
$250K
$300K
"The median list-to-sales ratio
for this area is 97.6%."
Ratios are simple ways to express the
difference between two values such as
list price and sold price. In our case,
we typically use the list-to-sale ratio to
determine the percentage of the final
list price that the buyer ultimately paid.
It is a very common method to help
buyers decide how much to offer on a
property.
$350K
$400K
$450K
$500K
$550K
$600K
$650K
$700K
Sold
For Sale
$205K
$200K
$195K
$190K
$185K
$180K
$175K
$170K
$165K
$160K
Median Sold Prices
Jul Aug Sep Oct Nov Dec
120
100
80
60
40
20
0
Median Days on Market (Sold)
Jul Aug Sep Oct Nov Dec
Market Dashboard

(337) 267-4099
1029 OFF-MARKET (last 6 mos) [3] ABSORPTION RATE
Num
#
3184 SOLD/CLOSED (last 6 months) [4]
Num
#
MARKET SUMMARY TABLE 376 PENDING [2]
Num
#
A A
M M
A A
M M
A A
M M
$ 179,663
A A
959
117 38% 272
M M
$ 225,298
A A
96 34%
M M
(months of inventory)
Final
List
Price
Sold/
Closed
Price
$ 132,869 $ 128,819 97%
$ 175,000 98%
Days
on
Market
Original
List
Price
114 $ 273,657
88 $ 270,349
A A
45
80 $ 273,000
313
27%
M M
41
$ 268,000
106 $ 324,967 $ 323,297
A A
19%
18
64 $ 325,000
M M
A A
117
$ 322,450 98%
102 $ 371,700 78 $ 382,000 $ 375,000 98%
M M
$ 428,570 120 $ 436,857
129
A A
73
$400,000 $449,999 42 11 21% 32
$ 374,238 98%
72 $ 429,950 85 $ 435,000 $ 425,000 98%
M M
$ 473,190 125 $ 484,162
150
A A
34
$450,000 $499,999 38 9 19% 30
$ 425,865 97%
122 $ 469,700 66 $ 481,500 $ 467,505 97%
M M
$ 522,862 96 $ 538,221
160
A A
21
$500,000 $549,999 17 1 6% 17
$ 470,780 97%
119 $ 526,300 65 $ 540,000 $ 520,000 96%
M M
$ 571,336 197 $ 590,788
152
A A
26
$550,000 $599,999 11 1 8% 17
$ 526,309 98%
109 $ 564,900 147 $ 584,050 $ 575,000 98%
M M
$ 629,971 156 $ 658,088
229
A A
19
$600,000 $649,999 7 0 7
$ 572,977 97%
260 $ 638,000 156 $ 649,900 $ 622,000 96%
M M
$ 678,451 139 $ 701,738
146
A A
16
$650,000 $699,999 12 1 8% 9
M M
$ 623,108 95%
$ 1,026,086 $ 1,031,248 $ 988,377 96%
222
172
A A
48
6 11% 59
$ 939,500
M M
$700,000 + 50
Market Totals 954 376 28%
Market Averages 132 $ 298,281
Date Range (Off-Market & Sold) = 06/05/2014 to 12/04/2014
Data believed to be accurate but not guaranteed.
1
1.7
0.9
1.2
1.8
2.3
3.4
2.8
3.5
6.7
4.9
2.5
2.2
4.5
6.3
Status = [1] A; [2] C, P; [3] X, W; [4] S
Area = B, C, D, E, F, G1, G2, G3, K, N, O, H, P
Property Type = DETACHED SINGLE FAMILY
$ 862,250 $ 839,050 97%
$ 222,265 98%
$ 190,000 98%
1,029 3184
254
165
96 $ 227,372
Market Medians 88 $ 234,900 53 $ 194,700
$ 678,231 97%
93 $ 679,000 105 $ 699,700 $ 685,000 98%
$200,000 $249,999 187
112
$ 179,925
$150,000 $199,999 190
125
97
33 28% 110
36 96%
$100,000 $149,999 83
140
Price Range Num
#
93%
$50,000 $99,999 53
163 $ 79,989
15 22%
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
954 ACTIVE [1]
List-
Sale
Ratio
Est.
Low High Mos.
$0 $49,999 14
121
35
Pend
Ratio
$ 38,550
2 13%
$ 37,450
9 81
104
57
$ 38,936 $ 33,781 87%
$ 41,000 $ 38,000
78 $ 80,179 $ 74,899 93%
92 $ 82,900 41 $ 79,900 $ 75,000 94%
536
72
79 $ 129,500
39 185
$ 128,119
$ 134,950 $ 130,000
91 $ 178,063 $ 175,122 98%
$ 178,500
61
$ 227,210
53
$ 227,385 $ 223,000 98%
622
97
78 $ 224,900
215
$ 223,803 99%
99%
$ 328,257
99%
98%
$ 382,520
109
$ 273,709
$ 271,000
65 $ 328,450
21
130
69
$ 374,679
$350,000 $399,999 55
132
$250,000 $299,999 119
$300,000 $349,999 76
1.8
134
90
28% 54
Favors Sellers Favors Buyers
Market Summary Table

1. PROPERTIES FOR SALE (ACTIVE)
(337) 267-4099
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.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 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
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.
Real Market Reports
4
Glossary

November 2014 Market Report

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