Hoffman West Real Estate


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Monthly Indicators

February 2017

Monthly Snapshot

New Listings were down 2.9 percent for the Single Family-Duplex category and 29.7 percent for the Townhouse-Condo category. Pending Sales increased 28.6 percent for Single Family-Duplex but decreased 19.4 percent for Townhouse- Condo.

+ 29.3%

– 30.5%

+ 18.6%

The Median Sales Price was up 19.7 percent to $605,000 for the Single Family- Duplex category and 3.6 percent to $540,000 for the Townhouse-Condo category. Days on Market increased 49.3 percent for Single Family-Duplex and 26.4 percent for Townhouse-Condo.

Residential real estate activity in Vail Board of REALTORS® MLS, comprised of single-family homes, duplexes, townhomes and condominiums. Percent changes are calculated using rounded figures.

Unemployment has reached pre-recession levels, and Americans remain optimistic about finding quality employment. This matters because job growth and higher paychecks fuel home purchases. Unfortunately, that won’t matter for potential buyers if price appreciation outpaces income growth and if mortgage rates continue their upward trend. Sellers are getting a generous number of offers in this market. The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers.

Single Family-Duplex Activity Overview 2 Townhouse-Condo Activity Overview 3 New Listings 4 Pending Sales 5 Closed Sales 6 Median Sales Price 7 Average Sales Price 8 Percent of List Price Received 9 Days on Market Until Sale 10 Housing Affordability Index 11 Inventory of Active Listings 12 Months Supply of Inventory 13 All Properties Activity Overview 14 Closed Sales and Inventory by Price Range 15 Glossary of Terms 16

One-Year Change in

One-Year Change in

One-Year Change in

Closed Sales All Properties

Active Listings All Properties

Median Sales Price All Properties

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime.

Single Family-Duplex Activity Overview

Key metrics for Single Family and Duplex properties by report month and for year-to-date (YTD) starting from the first of the year.

Key Metrics

Historical Sparkbars

2-2016 2-2017

Percent Change

YTD 2016

YTD 2017

Percent Change

New Listings

69 67

– 2.9%

111

125

+ 12.6%

Pending Sales

42 54

+ 28.6%

73

113

+ 54.8%

Closed Sales

25 32

+ 28.0%

47

66

+ 40.4%

Median Sales Price

$505,500 $605,000

+ 19.7%

$530,000

$707,875

+ 33.6%

Average Sales Price

$861,165 $1,216,136

+ 41.2%

$865,003

$1,967,286

+ 127.4%

Pct. of List Price Received

95.5%

95.5%

0.0%

95.4%

95.9%

+ 0.5%

Days on Market Until Sale

146

218

+ 49.3%

143

194

+ 35.7%

Housing Affordability Index

73

58

– 20.5%

69

50

– 27.5%

Inventory of Active Listings

515

387

– 24.9%

Months Supply of Inventory

10.2

7.1

– 30.4%

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 2

Townhouse-Condo Activity Overview

Key metrics for Townhouse and Condo properties by report month and for year-to-date (YTD) starting from the first of the year.

Key Metrics

Historical Sparkbars

2-2016

2-2017

Percent Change

YTD 2016

YTD 2017

Percent Change

New Listings

74

52

– 29.7%

148

110

– 25.7%

Pending Sales

62

50

– 19.4%

102

112

+ 9.8%

Closed Sales

33

43

+ 30.3%

83

80

– 3.6%

Median Sales Price

$521,250

$540,000

+ 3.6%

$600,000

$517,500

– 13.8%

Avg. Sales Price

$1,000,788 $1,049,403

+ 4.9%

$934,414

$939,998

+ 0.6%

Pct. of List Price Received

95.6%

96.7%

+ 1.2%

95.9%

96.7%

+ 0.8%

Days on Market Until Sale

144

182

+ 26.4%

182

174

– 4.4%

Affordability Index

70

65

– 7.1%

61

68

+ 11.5%

Active Listings

486

307

– 36.8%

Months Supply

8.7

5.0

– 42.5%

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

2-2014

2-2015

2-2016

2-2017

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 3

New Listings

A count of the properties that have been newly listed on the market in a given month.

February

Year to Date

Single Family- Year-Over-Year New Listings Duplex Change

Townhouse- Year-Over-Year Condo Change

43

47

2015

2016

2017

2015

2016

2017

2015

2016

2017 2015

2016

2017

Sep-2016 67 Oct-2016 46 Nov-2016 42 Dec-2016 49 Jan-2017 58 Feb-2017 67 12-Month Avg 80

+3.5% -11.8% -8.0% +13.5% -16.9% +38.1% -2.9% -1.0%

+ 22.9%

– 25.7%

69

67

+ 60.5%

+ 25.0%

– 3.5%

+ 24.4%

Single Family-Duplex

Townhouse-Condo

– 2.9%

– 14.5%

+ 57.4%

– 29.7%

+ 12.6% + 10.2%
Single Family-Duplex Townhouse-Condo

Historical New Listings by Month

Single Family-Duplex

Townhouse-Condo

200 175 150 125 100

75 50 25

1-2010 1-2011

1-2012

1-2013 1-2014

1-2015

1-2016

1-2017

74

148

Mar-2016 68 -2.9% Apr-2016 79 +2.6% May-2016 102 -2.9% Jun-2016 186 +2.2% Jul-2016 112 -8.2% Aug-2016 88

73 -24.0% 57 -9.5% 88 -9.3% 125 +10.6% 118 +20.4% 68 -31.3% 56 -6.7% 38 -34.5% 35 -45.3% 64 +14.3% 58 -21.6% 52 -29.7% 69 -12.6%

115 52

111

125 119

110

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 4

Pending Sales

A count of the properties on which offers have been accepted in a given month.

February

Year to Date

Single Family- Duplex

Year-Over-Year Townhouse- Change Condo

Year-Over-Year Change

80

60

40

20

28

76 50 41 45 62 50 62

54 42

102

2015 2016 2017

2015 2016

2017

2015

2016 2017 2015

2016 2017

-26.3% +50.0% +28.6% -14.9% +55.0% -19.4% Single Family-Duplex Townhouse-Condo

-7.9% +4.3% +54.8% -14.6% +24.4% +9.8%

Historical Pending Sales by Month

Single Family-Duplex

Townhouse-Condo

120

100

0
1-2010 1-2011

1-2012

1-2013

1-2014

1-2015 1-2016

1-2017

40

70

73

62

113

112

Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg

+36.7% 59 -15.2% 62 -13.8% 47

50

82

-4.5% 64 -14.0% 83 +47.5% 104

Single Family-Duplex

Townhouse-Condo

Pending Sales

67
56
50
64
80
87
69 +38.0% 44 -26.7% 38 +22.6% 33 +73.7% 59 +90.3% 54 +28.6% 58 +12.2%

+20.4% +1.6% -11.3% +33.3% +10.7% +26.8% +11.8% -28.6% -14.6% +18.4% +55.0% -19.4% +7.1%

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 5

Closed Sales

A count of the actual sales that closed in a given month.

February

Year to Date

Single Family- Year-Over-Year Duplex Change

Townhouse- Year-Over-Year Condo Change

60

40

20

27 25

50

47

2015

2016

2017

2015 2016

2017 2015

2016

2017

2015

2016

2017

– 10.0%

– 7.4%

+ 28.0%

0.0% 0.0%

+ 30.3% – 9.1%

– 6.0%

+ 40.4%

+ 14.3%

+ 15.3%

– 3.6%

Single Family-Duplex

Townhouse-Condo

Single Family-Duplex

Townhouse-Condo

Historical Closed Sales by Month

Single Family-Duplex

Townhouse-Condo

100

80

0
1-2010 1-2011

1-2012

1-2013

1-2014

1-2015 1-2016

1-2017

32

43 33 33

83

80

Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg

23 -30.3% 54 +28.6% 69 +60.5% 59 -26.3% 42 -44.0% 81 +22.7% 74 -6.3% 88 +79.6% 53 +17.8% 41 -12.8% 34 +54.5% 32 +28.0% 54 +7.3%

65 +75.7% 51 +30.8% 66 +15.8% 60 -7.7% 43 -29.5% 77 +30.5% 85 +14.9% 83 +23.9% 70 +14.8% 51 -20.3% 37 -26.0% 43 +30.3% 61 +9.6%

72 66

Closed Sales

Current as of March 6, 2017. All data from the Vail Board of REALTORS® MLS. Report © 2017 ShowingTime. | 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.

February

Year to Date

Single Family- Duplex

Year-Over-Year Townhouse- Change Condo

Year-Over-Year Change

$1,121,250

$948,125

Mar-2016 Apr-2016 May-2016 Jun-2016 Jul-2016 Aug-2016 Sep-2016 Oct-2016 Nov-2016 Dec-2016 Jan-2017 Feb-2017 12-Month Avg*

$742,500 $797,900 $633,500 $788,000 $710,000 $790,000 $998,293 $820,000 $795,000 $899,000 $782,500 $605,000 $789,000

+7.6% $590,000 +6.4% $550,000 -31.9% $402,500 +33.0% $476,000 +18.3% $388,000 +12.9% $456,000 +42.6% $509,900 +27.1% $455,000 +20.5% $535,000 +40.5% $550,000 +33.2% $505,000 +19.7% $540,000 +22.8% $480,000

-21.9% +8.3% -30.0% +14.7% -2.8% +21.6% +3.8% -2.2% +1.1% +4.3% -23.8% +3.6% 0.0%

2015

2016

2017

2015

2016

2017

2015

2016

2017

2015

2016

2017

+ 28.3%

– 54.9%

+ 19.7%

– 8.3%

– 35.0%

+ 3.6%

+ 26.4%

– 44.1%

+ 33.6%

+ 2.4%

– 29.4%

– 13.8%

$605,000 $505,500

$530,000

$517,500

Single Family-Duplex

Townhouse-Condo

Single Family-Duplex

Townhouse-Condo

* Median Sales Price for all properties from March 2016 through February 2017. This is not the average of the individual figures above.

Historical Median Sales Price by Month

Single Family-Duplex

Townhouse-Condo

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000

$750,00