Changes in contract to list price ratios in the macro Saline market. On 7/1/13 I ran a market study as to total number of houses listed for sale in the Saline market, excluding REO and "to be built" properties. At that time there were 144 houses on the market and 45 were under contract, or a contract to listing ratio of 31.25%. I ran another one on 7/26/13 and t that time there were 141 houses on the market (same criteria) and 52 were reported to be under contract with a contract to listing ratio of 36.88%. Looks like the macro market of Saline picked up somewhat in July with a decline in inventory and increase in number of contracted sales. Overall prices are showing continued upward pressure but not as significant as NAR and national statistics are showing, for example in the same period of 2012 to 2013 the macro Saline market showed an increase of 6.33% based on price per square foot median of these sales. As an appraiser, this is the type of data I try to observe in order to see trends happening in a more nuanced manner (look at both macro and micro markets). If you want your client well served by an appraiser who analyzes the market, pass on my name. I am always happy to take calls and work from private parties needing unbiased and well thought-out appraisal opinions.
Posted on: Wed, 31 Jul 2013 12:42:29 +0000
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