Bob's market report for February-March...Love to talk to you!!!!

 Hi All -- Happy (early) St. Patrick's Day, which is best known for being my lovely sister's birthday. Happy Birthday, Suzy!

Spring is almost here and you might have heard that the market is pretty crazy. Prices are shooting up and underwater homes are emerging. It is an amazing time to sell and, with some patience, still a time to find bargains, especially in the move-up market.

The best example of pricing I can find is right around the corner from my Camden Passage home.  A very nice, semi-custom JMC home -- 3,000 square feet with a pool on West Camden, about as close to a busy street as we have in Camden -- just appraised for $460,000! And the sales price, though still pending, is considerably higher.

If you, or anybody you know, has been thinking about selling or buying (anywhere, remember, we are the biggest RE company in the world), or if you just have questions, please call. I would love to talk to you...and will try to reach out to many of you in the next few weeks.

Meanwhile, have a great weekend and St. Paddy's Day and get ready for spring! And watch for two listings that I have coming, just a couple of blocks from home.

 

Cheers,

 

Bob

 

Robert "Bob" Walter Sales Associate bobwalter22.com (916) 691-3652 bob.walter@cbnorcal.com Zip Code: ALL February 2013 Property Type: Single Family Home, Townhome, Condo | Price $0 to $999,999,000 Trending Versus*: Trending Versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear Median List Price of all Current Listings $199,900 Average List Price of all Current Listings $302,475 February Median Sales Price $195,000 $193,000 February Average Sales Price $231,225 $227,598 Total Properties Currently for Sale (Inventory) 8947 February Number of Properties Sold 3249 6413 February Average Days on Market (Solds) 58 56 Asking Price per Square Foot (based on New Listings) $143 $139 February Sold Price per Square Foot $125 $124 February Month's Supply of Inventory 2.8 2.8 February Sale Price vs List Price Ratio 101.4% 99.9% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date | Arrows indicate if values are higher (up), lower (down) or unchanged (flat) Property Sales February property sales were 3,249, down from 3,848 in February of 2012 and 2.7% higher than the 3,164 sales last month. February 2013 sales were at their lowest level compared to February of 2012 and 2011. February YTD sales of 6,413 are running -12.7% behind last year's year-to-date sales of 7,342. Prices The median sales price in February was $195,000, up 19.6% from $163,000 in February of 2012 and up 2.6% from $190,000 last month. The average sales price in February was $231,225, up 22.2% from $189,259 in February of 2012 and up 3.3% from $223,874 last month. February 2013 ASP was at highest level compared to February of 2012 and 2011. Inventory & MSI The total inventory of properties available for sale as of February was 8,947, down -3.0% from 9,219 last month and down -44.9% from 16,232 in February of last year. February 2013 Inventory was at the lowest level compared to February of 2012 and 2011. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2013 MSI of 2.8 months was at its lowest level compared with February of 2012 and 2011. Market Time The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for February was 58, up from 53 days last month and down from 81 days in February of last year. The February 2013 DOM was at its lowest level compared with February of 2012 and 2011. Selling Price Per Square Foot The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The February 2013 selling price per square foot of $125 was up 1.6% from $123 last month and up 22.5% from $102 in February of last year. Selling Price vs Listing Price The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The February 2013 selling price vs list price of 101.4% was up from 100.9% last month and up from 98.5% in February of last year. Inventory / New Listings / Sales This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in February 2013 was 4261, down -5.6% from 4,512 last month and down -24.6% from 5,650 in February of last year. ©2013 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office Is Owned And Operated by NRT LLC. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. DRE License # 00313415 Based on information from MetroList Services, Inc. for the period 1/1/2004 through 2/28/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS's may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.

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