I'm starting to sketch out a design for a market inventory report that I can easily reproduce for different sectors in 2008. Please take a look at what I have so far from a consumer's perspective.

Does the information accurately portray the market? Is it relevant and understandable to a non-real estate person? Is there any data that is not included that a consumer would find helpful? Which concept is more easily understood - 'Absorption Rate' or 'Months of Inventory'? How often should this be updated - weekly or monthly?

Please offer any critiques or suggestions in the comments. Thanks for your help!

Price Range Current
Listings		 November
Sales		 Absorption
Rate		 In Escrow
Less the 200K 1454 95 6.5% 239
200 - 249K 3932 214 5.4% 441
250 - 299K 4380 207 4.7% 381
300 - 349K 2528 122 4.8% 235
350 - 399K 1901 69 3.6% 175
400 - 449K 1089 34 3.1% 78
450 - 499K 1029 29 2.8% 59
500 - 599K 1196 24 2.0% 76
600 - 749K 1051 30 2.9% 48
750 - 999K 871 20 2.3% 29
$1 million + 1052 24 2.3% 54
Totals 20,483 868 4.2% 1,815

Current Listings:  20,483

Short Sales:  3.648  (17.8% of inventory)
Foreclosures:  1.491  (7.3% of inventory)

Owner Occupied:  8,781  (42.9%)
Vacant Properties:  9,655  (47.1% of inventory)
Tenant Occupied:  2,047  (10.0%)

 

14 Comments on Market Inventory Report Content and Design

DEC
01
2007
650,191 Points Localism Sponsor Outside Blog
Good information and well presented. Always good to learn about different markets. All the best.
9:20pm • #1
305,775 Points 3 Featured Posts Outside Blog Hit Router Called Shot Master
John - I like the way this is presented.  I think the general public probably gets months of inventory easier than absorption rates.  I really like the fact that you have included the numbers on REO's, short sales and vacant listings as these are good indicators of the near future.
9:37pm • #2
373,580 Points 40 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
John, I really like the picture on the graph.  How did you do that?
9:47pm • #3

I think that looks great. Now I just have to get my virtual assistant to help me implement something similar myself. I routinely send market watch reports to my SOI, but something that is more appealing to Internet pros would be good.

~~ Steve Lizik, www.lizik.com 

 
9:52pm • #4
9 Featured Posts Localism Sponsor

My only comment is that, for people with sight issues, the background picture might make it difficult to read the blue color of your current listings.  Maybe you could change the color, or make the pic a little lighter? Just a thought.  Now the real question is, are you going to put a few sentences at the end of your charts to help interpret what this means to the average person?

It is very classy looking, and easier to understand than a lot that I have seen.  Nice job!
9:58pm • #5
DEC
02
2007
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Bob & Carolin - I appreciate your feedback and good wishes. Thanks for stopping by!
12:35am • #6
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Lori - I'm leaning more toward 'months of inventory' as well. Our distressed and vacant properties make up such a large share of our market that I think those levels should be followed for awhile. Thanks for your comment!
12:37am • #7
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Lisa - Thanks for the compliment! I made the chart in Excel. If you click on the Plot Area (the background) there's a dialog box with a button that says Fill Effects. Click on that and one of the options is to upload a picture. I'm really happy with the perspective this photo adds to the chart.
12:41am • #8
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Steve - A good virtual assistant can probably take these reports even further, combining the Excel chart with a nice Word layout and sending the whole thing as an HTML email. At least that's what I would ask for. :) Thanks for your input!
12:54am • #9
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Marlene - Great point about the accessibility! I hadn't considered the contrast between the data and the background photo. I will add a couple of paragraphs about trends, best buys, etc. Thanks for your suggestions!
12:57am • #10

John,

This is a great looking market snapshot - easy to read and understand - based on visuals as well as data. Personally - I'd stick with Month of Inventory. I am not sure that Non-Real Estate people would understand rate of absorption. Otherwise - looks great - and would be very helpful during the discussion of pricing your home (What the client thinks versus what the market supports)....
Sabine Pyrchalla
1:29pm • #11
1,418,038 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Sabine - I think I'll switch to Months of Inventory. I'm more of an analytical numbers person, but in the minority relative to the general population. This will also be a listing tool when combined with neighborhood price reports. Thanks for your feedback!
2:54pm • #12
DEC
05
2007
304,064 Points 15 Featured Posts Localism Sponsor Outside Blog
John,
This looks good and it something I need to work on myself.  My reports are not so attractive.
5:23am • #13
1,450,725 Points 46 Featured Posts Outside Blog Called Shot Master
Great presentation. I provide reports monthly but my reports are not so attractive either.
5:58am • #14


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Profilewmc Rainmaker_large

John Novak - Las Vegas and Henderson NV Real Estate

Las Vegas, NV

More about me…

Keller Williams Realty The Marketplace

Address: 2230 Corporate Circle, Suite 250, Henderson, NV, 89074

Office Phone: (702) 939-0000

Cell Phone: (702) 339-9700

Email Me

News, statistics, and observations about the residential real estate market in southern Nevada, and my experiences and thoughts about being a REALTOR®.

The Animal Rescue Site



Locations of visitors to this page


Real Estate Blogs - BlogCatalog Blog Directory Real Estate blogs
Real Time Web Analytics Clicky


Listings

Links

Archives

RSS 2.0 Feed for this blog