market statistics: How Do You Calculate Absorption Rate?
- 05/27/10 05:14 PM
I'm a numbers guy. In high school I took accounting classes as electives. My major at UNLV was Finance, with a concentration in Investments. I love to slice and dice MLS data to identify trends and try to figure out why the market does what it does.
One popular measure in real estate is absorption rate. My definition is the number of months that it would take to sell existing inventory at the present sales rate. I simply divide the 'Number of Homes Available for Sale' by the 'Number of Homes Sold in the Previous Month'.
There are variations on absorption … (26 comments)
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market statistics: Spinning the Foreclosure Statistics
- 02/02/08 03:50 PM
A recent story on MSN Real Estate was headlined "Foreclosures up 75% in 2007." My home state of Nevada retained the dubious #1 position, followed by Florida, Michigan, California and Colorado. Reading further, this sentence caught my attention:
"Nevada's 66,316 foreclosure filings on 34,417 properties last year represented a 215% increase from 2006 and were largely a result of high-risk lending and a frenzy of real-estate speculation."
I agree that speculation played a large role in bringing our market to where it is today. In fact, a recent article in the Las Vegas Review-Journal said "60 percent of homes in foreclosure are not … (8 comments)
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market statistics: Palm Canyon market report - 4th quarter, 2007
- 01/10/08 11:34 AM
Home sales activity in Palm Canyon, a neighborhood near Black Mountain in Henderson, NV fell sharply in the 4th quarter of 2007, with only three homes sold, compared to ten homes in the 3rd quarter. Year-over-year activity was down 45%, with just 26 homes sold in 2007 versus 47 homes in 2006.
The existing resale inventory of 13 homes represents a one-year supply at the current sales pace, which is a strong buyer's market. Homes in Palm Canyon have lot sizes from about 6,000 square feet up to 1/4 acre and more.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. Properties … (0 comments)
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market statistics: Morningside market report - 4th quarter, 2007
- 01/10/08 11:08 AM
Home sales in Morningside, a neighborhood in the Green Valley area of Henderson, NV picked up slightly in the 4th quarter of 2007. Four homes closed, doubling the results of the previous quarter. For the year, activity was up 21%, with 17 homes sold in 2007, compared to 14 homes in 2006.
Existing resale inventory of 16 homes, (plus 2 with accepted offera), represents a strong buyer's market with a one-year supply of inventory. Homes in Morningside are located close to the amenities of Green Valley Ranch and have quick access to the I-215 freeway.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various … (0 comments)
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market statistics: Inspiration at Green Valley Ranch market report - 4th quarter, 2007
- 01/06/08 10:58 AM
Home sales in Inspiration at Green Valley Ranch, a townhouse community in Henderson NV remained slow and steady in the 4th quarter of 2007. Three townhouses closed, equaling third period results. For the year, a total of 21 townhouses were sold, down 19% from the 2006 figure of 26 sales.
Existing resale inventory of 12 townhouses represents a one-year supply, indicating a strong buyer's market. Townhouses in Inspiration at Green Valley Ranch are located near The District (a mixed-use development), the Henderson Multigenerational Center, and the Paseo Verde Library, and have quick access to the I-215 freeway.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. … (1 comments)
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market statistics: Clearwater Canyon market report - 4th quarter, 2007
- 01/04/08 05:46 PM
Sales activity for the 4th quarter of 2007 in Clearwater Canyon, a neighborhood in Henderson, NV remained steady. Three homes closed in the period, matching the results from the 3rd quarter. Year-over-year sales were even, with 15 homes sold in both 2007 and 2006.
The current resale inventory is 13 homes, plus two with accepted offers. Because of the wide variety of floor plans, that level only slightly favors buyers. Homes in Clearwater Canyon are close to all of the wonderful amenities that living in Green Valley provides, as well as I-215, I-515 and McCarran International Airport.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. … (1 comments)
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market statistics: Coventry at Anthem market report - 4th quarter, 2007
- 01/04/08 11:30 AM
Home sales activity in Coventry at Anthem, a neighborhood in the master-planned community of Anthem in Henderson, NV continued to struggle in the 4th quarter of 2007. Four homes closed, compared to three in the 3rd quarter. This brought the 2007 total to 31 homes, down 34% from 47 homes sold in 2006.
Available resale inventory is 25 homes, plus two homes with accepted offers. At this level, it's a very strong buyer's market in this subdivision. Homes in Coventry at Anthem offer affordable luxury and outstanding nearby amenities.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale Price adjusted for … (0 comments)
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market statistics: Candle Creek market report - 4th quarter, 2007
- 01/04/08 10:12 AM
Home sales in Candle Creek, a neighborhood adjacent to the master-planned community of Whitney Ranch in Henderson, NV trailed off in the 4th quarter of 2007. Three homes closed in this period, down from five in the 3rd quarter. Annual activity was down 35%, with just 17 homes sold in 2007, compared to 26 homes in 2006.
Existing resale inventory is steady at 20 homes, indicative of a buyer's market with more than 18 months of inventory. Homes in Candle Creek offer good values relative to the overall Las Vegas market.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale … (1 comments)
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market statistics: Black Mountain Vistas market report - 4th quarter, 2007
- 01/04/08 05:31 AM
Home sales in Black Mountain Vistas, a master-planned community in Henderson, NV made encouraging progress in the fourth quarter of 2007. Six homes and six townhouses closed during this period, up from 5 homes and 5 townhouses in the 3rd quarter. Overall activity for the year was down about 28%, with 25 homes and 18 townhouses sold, compared to 37 homes and 23 townhouses in 2006.
The resale inventory adjusted nicely to 17 homes and 9 townhouses, (plus 1 home and 2 townhouses with accepted offers), moving towards a balanced market. Homes in Black Mountain Vistas are conveniently located near the I-215 and I-515 freeways and represent good values.
Here are the details of the fourth quarter sales:
(GLVAR deems … (0 comments)
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market statistics: Whitney Ranch market report - 4th quarter, 2007
- 01/04/08 04:31 AM
Home sales in Whitney Ranch, a master-planned community in Henderson, NV collapsed in the 4th quarter of 2007. Just one Galleria Villas condo was sold, compared to six homes and two condos in the third quarter. Year-over-year results were down 41%, with 18 homes and 8 condos sold in 2007 versus 25 homes and 19 condos in 2006.
Resale inventory stayed steady at 20 homes and 8 condos (plus 1 home with an accepted offer) putting the market squarely in favor of buyers.
Here are the details of the fourth quarter sale:
(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale Price adjusted for … (0 comments)
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market statistics: South Valley Ranch market report - 4th quarter, 2007
- 01/04/08 03:52 AM
Sales activity in South Valley Ranch, a master-planned community in Henderson, NV was up slightly in the 4th quarter of 2007. Six homes closed during the period, compared to 3 homes and 2 condos in the 3rd quarter. For the year, 28 homes and 12 condos were sold, down 47% from the 57 homes and 18 condos sold in 2006.
Existing resale inventory remains very high at 40 homes and 12 condos (plus 3 homes with accepted offers) making this an extremely challenging time for sellers.
Here are the details of the fourth quarter sales:
(GLVAR deems information reliable but not guaranteed. Properties listed and sold by various MLS participants. Sale Price adjusted for any seller contributions. DOM = … (0 comments)
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market statistics: Market Inventory Report Content and Design
- 12/01/07 01:12 PM
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!
Current Listings: … (14 comments)
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market statistics: NAR Median Price Reports Encouraging
- 11/23/07 01:04 PM
Results of the National Association of REALTORS® median price survey of single-family resale in 150 metro markets showed encouraging results for the 3rd quarter of 2007. Compared to the 3rd quarter in 2006, 93 markets showed improvement, 3 were even, and 54 declined.
Top-performing cities were:
Bismarck, ND (+15.1%); Salt Lake City, UT (+14.1%); Yakima, WA (+13.6%); Binghamton, NY (+11.4%); Charlotte/Gasonia/Concord, NC/SC (+11.0%) and Beaumont/Port Arthur, TX (+10.2%).
On a regional basis, prices in the Northeast were up 3.2%; the Midwest gained 0.5%; the South fell 3.6%; and the West lost 3.8%.
Read the November 21 press release or see how your metro area fared. Fourth quarter results will be … (4 comments)
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market statistics: Southern Highlands: Toscana Vineyards market report - 3rd quarter, 2007
- 10/27/07 04:44 PM
Home sales activity in Toscana Vineyards, a neighborhood in the master-planned community of Southern Highlands in Las Vegas, NV barely rebounded in the 3rd quarter. Three homes closed, compared to a just one from April through June. The neighborhood continues to struggle relative to 2006 results, with activity down 40%.
Existing resale inventory has climbed to 21 homes (plus 2 with accepted offers), strongly favoring buyers. A growing number of foreclosures and short sales are putting downward pressure on prices, making this market a challenging one for sellers. Homes in Toscana Vineyards at Southern Highlands are close to schools, parks and shopping, as well as the south Las Vegas Strip,
Here are the details … (2 comments)
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market statistics: Southern Highlands: Royal Highlands market report - 3rd quarter, 2007
- 10/27/07 04:44 PM
Home sales activity in Royal Highlands, a neighborhood in the master-planned community of Southern Highlands in Las Vegas, NV rebounded slightly in the 3rd quarter of 2007. Eight homes closed, up from five in the second quarter, and bringing the total for the year to 23.
Existing resale inventory of 47 homes, (24 in Inverness and 23 in Glen Eagle), favors buyers, and much more so in the more expensive Inverness segment. A limited number of buyers as price points increase and the overall softening of the Las Vegas market are challenges that sellers must overcome. Royal Highlands at Southern Highlands is a gated community, with quick access to schools, parks and shopping, as well … (0 comments)
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market statistics: Southern Highlands: Montagne Marron market report - 3rd quarter, 2007
- 10/27/07 04:43 PM
Home sales activity in Montagne Marron, a neighborhood in the master-planned community of Southern Highlands in Las Vegas, NV remained consistent in the third quarter of 2007. Two homes and three townhouses closed, bringing the total for the year to 9 homes and 8 townhouses. This is 45% behind last year's pace for the first nine months.
Existing resale inventory of 20 homes amd 8 townhouses (plus 2 homes and 1 townhouse with accepted offers) favors buyers of homes, but is balanced for townhouses. Still, with the limited number of sales per quarter, it is important for sellers to price aggressively in order to make it onto the buyer's short list. Homes in Montagne Marron at Southern Highlands are … (0 comments)
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market statistics: Southern Highlands: Cortona Hills market report - 3rd quarter, 2007
- 10/27/07 04:43 PM
Home sales activity in Cortona Hills, a neighborhood in the master-planned community of Southern Highlands in Las Vegas, NV continued a steady pace in the 3rd quarter of 2007. Two homes closed, matching the 2nd quarter results. For the first nine months, 8 homes have closed in 2007, compared to 9 in 2006.
Existing resale inventory of 7 homes means that this is one of the few balanced micro-markets in the Las Vegas valley. Prices have fallen about 10-15% from 2006 levels, which may have caught the attention of value-seeking buyers. Homes in Cortona Hills at Southern Highlands are close to schools, parks and shopping, as well as the south Las Vegas Strip.
Here … (0 comments)
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market statistics: Southern Highlands: Bella Terra market report - 3rd quarter, 2007
- 10/27/07 04:42 PM
Home sales activity in Bella Terra, a neighborhood in the master-planned community of Southern Highlands in Las Vegas, NV dropped sharply in the 3rd quarter of 2007. Just five homes closed, compared to 14 in the 2nd quarter and 15 in the 1st quarter. Year-over-year results are down 8.1% for the first nine months.
Existing resale inventory has swelled to 55 homes (plus 4 homes with accepted offers) which equates to more than a two-year supply. Sellers must price aggressively and market extensively to generate showings and offers in this decidedly buyer's market. Homes in Bella Terra at Southern Highlands are close to schools, parks and shopping, as well as the south Las Vegas Strip.
Here are the details of the third quarter sales:
(GLVAR … (0 comments)
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market statistics: Blue Diamond Springs market report - 3rd quarter, 2007
- 10/20/07 05:03 PM
Home sales activity in Blue Diamond Springs, a neighborhood in southwest Las Vegas, NV produced engouraging results in the third quarter of 2007. The nine homes closed matched the total for the first six months.
Existing resale inventory was reduced to just 11 homes, making this subdivision one of very few that has a balanced market. Though selling prices are down about 10% for the year, they appear to have stabilized. Homes in Blue Diamond Springs are close to all of the amenities of the growing southwest area of the valley, as well as the south Las Vegas Strip.
Here are the details of the third quarter sales:
(GLVAR deems information reliable … (0 comments)
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market statistics: Blue Diamond Ranch market report - 3rd quarter, 2007
- 10/20/07 05:03 PM
Home sales activity in Blue Diamond Ranch, a community in southwest Las Vegas, NV rebounded slightly in the third quarter of 2007. Five homes closed, up from two in the 2nd quarter. This brings the total to 17 for the year, down 41% versus the first nine months of 2006.
Existing resale inventory of 21 homes (plus 1 with an accepted offer) represents about a one-year supply. In order to generate showings and offers from buyers, sellers need to be aggressive on price and marketing, as well as keep their homes in top showing condition. Homes in Blue Diamond Ranch are close to all of the amenities of the growing southwest area of the … (0 comments)
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I'm a numbers guy. In high school I took accounting classes as electives. My major at UNLV was Finance, with a concentration in Investments. I love to slice and dice MLS data to identify trends and try to figure out why the market does what it does.
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