Monthly Market Detail - December 2021 Townhouses And Condos West .

Monthly Market Detail - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.MonthMedian Time to ContractThe median number of days between the listing dateand contract date for all Closed Sales during the monthEconomists' note : Like Time to Sale, Time to Contract is a measure ofthe length of the home selling process calculated for sales which closedduring the month. The difference is that Time to Contract measuresthe number of days between the initial listing of a property and thesigning of the contract which eventually led to the closing of the sale.When the gap between Median Time to Contract and Median Time toSale grows, it is usually a sign of longer closing times and/or decliningnumbers of cash sales.20172018Year-to-DateDecember 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202019Median Time toContractPercent ChangeYear-over-Year17 Days35 Days13 Days15 Days15 Days5 Days12 Days14 Days17 Days13 Days41 Days54 Days40 Days20 %-71.2%-40.9%-22.6%14.9%-21.6%-67.2%20202021Median Time toContract120100806040200J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DMonthMedian Time to SaleThe median number of days between the listing dateand closing date for all Closed Sales during the monthEconomists' note : Time to Sale is a measure of the length of the homeselling process, calculated as the number of days between the initiallisting of a property and the closing of the sale. Median Time to Sale isthe amount of time the "middle" property selling this month was onthe market. That is, 50% of homes selling this month took less time tosell, and 50% of homes took more time to sell. Median Time to Salegives a more accurate picture than Average Time to Sale, which can beskewed upward by small numbers of properties taking an abnormallylong time to sell.Median Time toSale201720182019Year-to-DateDecember 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202020Median Time to SalePercent ChangeYear-over-Year56 Days75 Days56 Days51 Days52 Days45 Days46 Days52 Days61 Days55 Days72 Days87 Days84 Days60 -22.8%-11.3%-7.7%2.4%-14.3%-36.8%2021200150100500J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Monthly Market Detail - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.MonthNew Pending SalesThe number of listed properties that went undercontract during the monthEconomists' note : Because of the typical length of time it takes for asale to close, economists consider Pending Sales to be a decentindicator of potential future Closed Sales. It is important to bear inmind, however, that not all Pending Sales will be closed successfully.So, the effectiveness of Pending Sales as a future indicator of ClosedSales is susceptible to changes in market conditions such as theavailability of financing for homebuyers and the inventory ofdistressed properties for sale.20172018Year-to-DateDecember 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202019New Pending SalesPercent 121.1%70.4%10.3%25.8%8.3%20202021Pending Sales6050403020100J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DMonthNew ListingsThe number of properties put onto the market duringthe monthEconomists' note : New Listings tend to rise in delayed response toincreasing prices, so they are often seen as a lagging indicator ofmarket health. As prices rise, potential sellers raise their estimationsof value—and in the most recent cycle, rising prices have freed upmany potential sellers who were previously underwater on theirmortgages. Note that in our calculations, we take care to not includeproperties that were recently taken off the market and quickly relisted,since these are not really new listings.201720182019Year-to-DateDecember 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202020New ListingsPercent .3%-49.2%-35.8%-30.2%-26.9%2021New Listings806040200J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Monthly Market Detail - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.MonthInventory (Active Listings)The number of property listings active at the end ofthe monthEconomists' note : There are a number of ways to define and calculateInventory. Our method is to simply count the number of active listingson the last day of the month, and hold this number to compare with thesame month the following year. Inventory rises when New Listings areoutpacing the number of listings that go off-market (regardless ofwhether they actually sell). Likewise, it falls when New Listings aren'tkeeping up with the rate at which homes are going off-market.20172018YTD (Monthly Avg)December 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202019InventoryPercent ry150100500J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DMonthMonths Supply of InventoryAn estimate of the number of months it will take todeplete the current Inventory given recent sales ratesEconomists' note : MSI is a useful indicator of market conditions. Thebenchmark for a balanced market (favoring neither buyer nor seller) is5.5 months of inventory. Anything higher is traditionally a buyers'market, and anything lower is a sellers' market. There is no singleaccepted way of calculating MSI. A common method is to dividecurrent Inventory by the most recent month's Closed Sales count, butthis count is a usually poor predictor of future Closed Sales due toseasonal cycles. To eliminate seasonal effects, we use the 12-monthaverage of monthly Closed Sales instead.Months Supply ofInventory201720182019YTD (Monthly Avg)December 2021November 2021October 2021September 2021August 2021July 2021June 2021May 2021April 2021March 2021February 2021January 2021December 20202020Months SupplyPercent 6.05.04.03.02.01.00.0J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON DProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Monthly Market Detail - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.Closed Sales by Sale PriceThe number of sales transactions which closed duringthe monthClosed SalesEconomists' note: Closed Sales are one of the simplest—yet mostimportant—indicators for the residential real estate market. Whencomparing Closed Sales across markets of different sizes, werecommend comparing the percent changes in sales rather than thenumber of sales. Closed Sales (and many other market metrics) areaffected by seasonal cycles, so actual trends are more accuratelyrepresented by year-over-year changes (i.e. comparing a month's salesto the amount of sales in the same month in the previous year), ratherthan changes from one month to the next.109876543210December 2020Less than 50,000 50,000 99,999 100,000 149,999 150,000 199,999 200,000 249,999 250,000 299,999Median Time to Contract 50,000 99,999 100,000 149,9990-100.0% 50,000 - 99,9991-85.7% 100,000 - 149,9996-25.0% 150,000 - 199,99960.0% 200,000 - 249,9994-55.6% 250,000 - 299,9993200.0% 300,000 - 399,999566.7% 400,000 - 599,99930.0% 600,000 - 999,9992-50.0% 1,000,000 or more1-50.0% 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreMedian Time toContractPercent ChangeYear-over-YearLess than 50,000(No Sales)N/A 50,000 - 99,99914 Days250.0% 100,000 - 149,99931 Days675.0% 150,000 - 199,99931 Days55.0% 200,000 - 249,9997 Days-75.0% 250,000 - 299,99952 Days147.6% 300,000 - 399,99974 Days-51.0% 400,000 - 599,99920 Days-64.3% 600,000 - 999,99983 Days-25.9% 1,000,000 or more52 Days44.4%Sale PriceEconomists' note : Like Time to Sale, Time to Contract is a measure ofthe length of the home selling process calculated for sales which closedduring the month. The difference is that Time to Contract measuresthe number of days between the initial listing of a property and thesigning of the contract which eventually led to the closing of the sale.When the gap between Median Time to Contract and Median Time toSale grows, it is usually a sign of longer closing times and/or decliningnumbers of cash sales.Less than 50,000Less than 50,000109876543210The median number of days between the listing dateand contract date for all Closed Sales during the monthDecember 2020Percent ChangeYear-over-YearDecember 2021Median Time to Contract by Sale Price160140120100806040200Closed SalesSale PriceDecember 2021 150,000 199,999 200,000 249,999160140120100806040200 250,000 299,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Monthly Market Detail - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.New Listings by Initial Listing PriceThe number of properties put onto the market duringthe monthEconomists' note: New Listings tend to rise in delayed response toincreasing prices, so they are often seen as a lagging indicator ofmarket health. As prices rise, potential sellers raise their estimationsof value—and in the most recent cycle, rising prices have freed upmany potential sellers who were previously underwater on theirmortgages. Note that in our calculations, we take care to not includeproperties that were recently taken off the market and quickly relisted,since these are not really new listings.New ListingsDecember 2020New ListingsPercent ChangeYear-over-YearLess than 50,0000N/A 50,000 - 99,9992100.0% 100,000 - 149,99970.0% 150,000 - 199,9996100.0% 200,000 - 249,9993-40.0% 250,000 - 299,9992N/A 300,000 - 399,9995150.0% 400,000 - 599,9993N/A 600,000 - 999,9993200.0% 1,000,000 or more0N/ADecember 2021876543210876543210Less than 50,000 50,000 99,999 100,000 149,999 150,000 199,999 200,000 249,999 250,000 299,999The number of property listings active at the end ofthe monthEconomists' note : There are a number of ways to define and calculateInventory. Our method is to simply count the number of active listingson the last day of the month, and hold this number to compare with thesame month the following year. Inventory rises when New Listings areoutpacing the number of listings that go off-market (regardless ofwhether they actually sell). Likewise, it falls when New Listings aren'tkeeping up with the rate at which homes are going off-market.1614121086420December 2020Less than 50,000 50,000 99,999 100,000 149,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreInventoryPercent ChangeYear-over-YearLess than 50,0000N/A 50,000 - 99,9991-90.9% 100,000 - 149,9992-85.7% 150,000 - 199,9992-75.0% 200,000 - 249,9991-91.7% 250,000 - 299,9992-66.7% 300,000 - 399,9996-50.0% 400,000 - 599,999740.0% 600,000 - 999,9996200.0% 1,000,000 or more350.0%Current Listing PriceInventory by Current Listing PriceInventoryInitial Listing PriceDecember 2021 150,000 199,999 200,000 249,9991614121086420 250,000 299,999 300,000 399,999 400,000 599,999 600,000 - 1,000,000 or 999,999moreProduced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Monthly Distressed Market - December 2021Townhouses and CondosWest Volusia Association of REALTORS This report describes member activity for the association and is not confined to any specific geographic area.Closed SalesDecember 2021December 2020Percent ChangeYear-over-Year3145-31.1% 225,000 197,00014.2%01-100.0%(No Sales) 77,000N/A00N/A(No Sales)(No Sales)N/ATraditionalMedian Sale PriceClosed SalesForeclosure/REOMedian Sale PriceClosed SalesShort SaleMedian Sale 1Short Sale100%90%Closed Sales80%70%60%50%40%30%20%10%0%J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D 700,000 600,000Median Sale Price 500,000 400,000 300,000 200,000 100,000 0J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D J FMAM J J A S ON D20172018201920202021Produced by Florida Realtors with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month.Data released on Thursday, January 20, 2022. Next data release is Friday, February 18, 2022.

Median sale price only reflects the values of the homes that sold each month, and the mix of the types of homes that sell can change over time. Economists' note: Usually, we prefer Median Sale Price over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses—particularly when it is analyzed