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Tuesday, September 25, 2012
Orange County Real Estate and Homes For Sale – Aug. '12
Month’s Supply of Inventory (MSI)- This chart shows the
time, in months, that it would take to “sell” the remaining inventory
for the month in question. This metric is a “one number summary” of how
market supply and demand are changing from month to month. (0-3months– indicate that supply & demand are converging, 4-6 months – indicate that S&D are in balance, 7+ months – indicate that S&D are diverging). This month shows a decrease compared to the last month.
Median for sale Price vs. Median sold price- This chart shows the median price of properties listed For Sale (a measurement of seller expectations) compared with the median price of properties that have successfully Sold (a reflection of buyer activity)
during the time period chosen. The difference in these two median
prices speaks volumes about how buyers and sellers perceive the same set
of market conditions. In a balanced market most properties “sell” within 10% of their “final” list price. This month shows an increase on Median Sold Prices as well as the Market Expectation compared to the last month.
The Number of New Properties Listed by Month- This chart showsthe number of the properties that came into the market each month for the time period chosen. This metric is a leading indicator of the “rate” at which new inventory is entering
(resupplying) the market. A useful exercise is to compare it with the
“rate” at which properties are leaving the market (the number of under
contract properties which represent current demand). This month shows a decrease compared to the last month.
The Number of Under Contract Properties by Month- This chart shows the
number of properties that went under contract each month during the
time period chosen (a buyer and seller have successfully negotiated a
purchase contract and have opened escrow). This metric is a direct
measure of current sales activity and a leading indicator of market demand. This month shows an increase compared to the last month.