The market and price point performance
$200,000 and Above
When you segment the market by price range you can more clearly see underlying trends that show up in the “average” performance numbers. Additionally, depending on the price point, there are definitely amenities that are required as you move up in the market. You can tell amenity requirements by the price per square foot pricing. I would caution, not to take the simplistic approach, of multiplying a home size by the price per square foot, since location, age and condition can affect the variability of that number: as an example the 500k plus sold price per square foot ranges from $88 to $378 (over all in this review range from $50 to $378 sold price per square foot), so if you use the average in the absorption chart, basically $131 per square foot, you could be either 48% high or 65% low in terms of actual sales price . What the numbers do show is the relationship between types of inventory, active, pending, closed, expired and different price points within the market. For the measurement of those differences, the numbers give valid comparisons.
First I start with the historical break down by price range, percent of market by units sold, to show the relationships and growth of particular segments. This shows the effect of price appreciation, the affordability factor created by “abnormally” low interest rates, with income growth of income in Yellowstone county thrown into the mixed for good measure.
The second set of graphs the market broken down by price ranges starting with 500k and above , 400k to 499k, 300k to 399k, 250k to 299k and last 200k to 249k the total of these price ranges amount to 56.47% of all the homes sold in 2014 so far. For each price range there are two charts first the activity chart that shows the number of homes in each activity category additionally showing average days on market to offer and the absorption time based on the number of active properties on august 23rd 2014.
Comments (1)Subscribe to CommentsComment