You are on page 1of 13

Monthly Indicators

A RESEARCH TOOL PROVIDED BY THE CONTRA COSTA ASSOCIATION OF REALTORS®

January 2011 Quick Facts


A house. It's the single largest investment most families make. It's where we
rest our heads every night. Houses represent the brick and mortar that
- 2.7% - 1.3% - 5.6%
comprise the very communities in which we live. They provide us with a sense Change in Change in Change in
of place to extend our roots downward. We raise our families under the safety Closed Sales Closed Sales Closed Sales
and warmth of their rooftops. Our houses become homes. Let's analyze these All Properties Single-Family Only Townhouse-Condo Only
structures that are so much more than that, and let's take a look at how our
home market began 2011.

Single-Family Pending Sales in the Contra Costa region jumped 41.2 percent
Single-Family Market Overview 2
since January 2010 to 387 agreements signed. Townhouse-Condo sales were Townhouse-Condo Market Overview 3
also strong, posting a 33.1 percent gain. New Listing activity is also growing for New Listings 4
both property types, but not as strongly as buyer demand. Pending Sales 5
Closed Sales 6
The Median Sales Price of single-family homes grew 5.2 percent from last
Days On Market Until Sale 7
January to $559,500, while townhouse-condo homes fell by 1.1 percent to
$185,500. Median Sales Price 8
Average Sales Price 9
Interest rates are expected to remain around 5.0 percent and prices are Percent of Original List Price Received 10
expected to rise gradually in many markets. Although the labor department Housing Affordability Index 11
reported that the seasonally-adjusted unemployment rate dropped to 9.0
Inventory of Homes for Sale 12
percent in January, expect joblessness to remain an issue. There's a steep,
jagged rock face behind us; ahead lies a gently inclined grassy plain.
Months Supply of Inventory 13
Click on desired metric to jump to that page.

All data from the CCAR Multiple Listing Service. Powered by 10K Research and Marketing. | 1
Single-Family Market Overview
Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.

Key Metrics Historical Sparklines 1-2010 1-2011 +/– YTD 2010 YTD 2011 +/–

New Listings 488 547 + 12.1% 488 547 + 12.1%


1-2008 1-2009 1-2010 1-2011

Pending Sales 274 387 + 41.2% 274 387 + 41.2%


1-2008 1-2009 1-2010 1-2011

Closed Sales 228 225 - 1.3% 228 225 - 1.3%


1-2008 1-2009 1-2010 1-2011

Days on Market Until Sale 55 80 + 45.5% 55 80 + 45.5%


1-2008 1-2009 1-2010 1-2011

Median Sales Price $531,750 $559,500 + 5.2% $531,750 $559,500 + 5.2%


1-2008 1-2009 1-2010 1-2011

Average Sales Price $631,149 $599,891 - 5.0% $631,149 $599,891 - 5.0%


1-2008 1-2009 1-2010 1-2011

Percent of Original
96.8% 91.7% - 5.3% 96.8% 91.7% - 5.3%
List Price Received
1-2008 1-2009 1-2010 1-2011

Housing Affordability Index 75 76 + 2.1% 75 76 + 2.1%


1-2008 1-2009 1-2010 1-2011

Inventory of Homes for Sale 961 1,133 + 17.9% -- -- --


1-2008 1-2009 1-2010 1-2011

Months Supply
2.8 3.1 + 12.2% -- -- --
of Homes for Sale
1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
Townhouse-Condo Market Overview
Key market metrics for the current month and year-to-date figures for Townhouse-Condo Properties Only.

Key Metrics Historical Sparklines 1-2010 1-2011 +/– YTD 2010 YTD 2011 +/–

New Listings 256 262 + 2.3% 256 262 + 2.3%


1-2008 1-2009 1-2010 1-2011

Pending Sales 157 209 + 33.1% 157 209 + 33.1%


1-2008 1-2009 1-2010 1-2011

Closed Sales 108 102 - 5.6% 108 102 - 5.6%


1-2008 1-2009 1-2010 1-2011

Days on Market Until Sale 62 76 + 23.2% 62 76 + 23.2%


1-2008 1-2009 1-2010 1-2011

Median Sales Price $187,500 $185,500 - 1.1% $187,500 $185,500 - 1.1%


1-2008 1-2009 1-2010 1-2011

Average Sales Price $262,231 $233,014 - 11.1% $262,231 $233,014 - 11.1%


1-2008 1-2009 1-2010 1-2011

Percent of Original
95.5% 90.2% - 5.5% 95.5% 90.2% - 5.5%
List Price Received
1-2008 1-2009 1-2010 1-2011

Housing Affordability Index 190 205 + 7.8% 190 205 + 7.8%


1-2008 1-2009 1-2010 1-2011

Inventory of Homes for Sale 553 735 + 32.9% -- -- --


1-2008 1-2009 1-2010 1-2011

Months Supply
3.3 4.2 + 27.6% -- -- --
of Homes for Sale
1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
New Listings
A count of the properties that have been newly listed on the market in a given month.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 572 + 2.7% 291 + 22.8%


547 547 March 753 + 20.9% 328 + 32.3%
521 521
488 488 April 772 + 32.2% 325 + 68.4%
May 608 + 0.3% 280 + 15.7%
June 718 + 29.4% 331 + 23.0%
July 681 + 19.5% 304 + 3.1%
256 262 256 262 August 642 + 26.9% 342 + 24.8%

200 200 September 616 + 18.9% 305 + 22.5%


October 513 + 5.8% 259 + 5.3%
November 402 + 10.7% 226 + 12.4%
December 289 - 13.0% 202 - 2.4%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 547 + 12.1% 262 + 2.3%
-6.3% +12.1% +28.0% +2.3% -6.3% +12.1% +28.0% +2.3%
Total 7,113 + 15.0% 3,455 + 18.4%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical New Listing Activity Single-Family Townhouse-Condo


1,750

1,500

1,250

1,000

750

500

250

0
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Pending Sales
A count of the properties that have offers accepted on them in a given month.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 303 + 15.2% 162 + 39.7%


March 439 + 28.4% 206 + 15.1%
387 387
April 499 + 24.8% 244 + 34.1%
May 401 + 4.4% 159 - 10.2%
274 274 June 380 - 14.8% 180 - 11.8%
250 250 July 386 165
- 0.5% - 5.7%
209 209 August 401 168
+ 7.2% - 15.6%
157 157 September 302 - 19.0% 170 - 4.5%
139 139
October 313 - 17.2% 175 - 13.8%
November 351 + 28.1% 160 + 11.1%
December 283 + 12.3% 160 + 27.0%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 387 + 41.2% 209 + 33.1%
+9.6% +41.2% +12.9% +33.1% +9.6% +41.2% +12.9% +33.1%
Total 4,445 + 7.2% 2,158 + 5.8%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Pending Sales Activity Single-Family Townhouse-Condo


800

700

600

500

400

300

200

100

0
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Closed Sales
A count of the properties that have closed in a given month.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 218 + 8.5% 144 + 25.2%


228 225 228 225 March 336 + 36.6% 178 + 29.9%
216 216
April 432 + 35.4% 187 + 37.5%
May 429 + 24.3% 233 + 56.4%
June 455 + 16.7% 189 + 16.0%
July 411 - 10.5% 166 - 19.0%

104 108 102 104 108 102


August 381 + 3.3% 158 - 10.7%
September 362 + 2.3% 168 - 5.1%
October 303 - 22.5% 172 - 19.2%
November 293 - 13.3% 145 - 18.5%
December 353 - 2.2% 167 - 7.7%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 225 - 1.3% 102 - 5.6%
+5.6% -1.3% +3.8% -5.6% +5.6% -1.3% +3.8% -5.6%
Total 4,198 + 4.9% 2,009 + 3.6%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Closed Sales Activity Single-Family Townhouse-Condo


800

700

600

500

400

300

200

100

0
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Days on Market Until Sale
The average number of days between when a property is first listed and when an offer is accepted. Sold properties only.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 63 - 19.0% 42 - 53.8%


84 84
80 80 March 57 - 34.2% 49 - 39.4%
76 76
72 72 April 48 - 25.9% 62 - 34.4%

62 62 May 40 - 41.8% 49 - 40.5%


55 55 June 49 - 22.8% 40 - 50.5%
July 45 - 34.2% 63 + 17.3%
August 54 - 4.4% 50 - 33.0%
September 59 - 5.9% 65 + 11.0%
October 61 - 2.7% 70 + 14.8%
November 63 + 13.7% 64 + 7.8%
December 71 + 16.7% 81 + 48.3%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 80 + 45.5% 76 + 23.2%
-23.9% +45.5% -26.2% +23.2% -23.9% +45.5% -26.2% +23.2%
Total 56 - 13.8% 58 - 15.9%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Days on Market Until Sale Single-Family Townhouse-Condo


100

90

80

70

60

50

40

30

20

10
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Median Sales Price
The median sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February $597,500 + 29.3% $254,500 + 13.1%


$559,500 $559,500
$531,750 $531,750 March $587,500 + 12.9% $249,500 + 41.3%

$472,000 $472,000
April $659,000 + 19.8% $225,000 + 2.4%
May $640,000 + 13.8% $290,000 + 33.6%
June $648,500 + 6.6% $265,000 - 3.6%
July $696,210 + 12.4% $276,500 - 1.8%
August $681,500 + 8.3% $261,000 - 3.3%
$204,000 $204,000 September $650,000 + 3.2% $279,950 + 3.3%
$187,500 $185,500 $187,500 $185,500
October $623,950 + 5.3% $235,000 - 12.8%
November $635,000 + 1.6% $205,000 - 21.5%
December $552,000 - 8.0% $215,000 - 23.2%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January $559,500 + 5.2% $185,500 - 1.1%
+12.7% +5.2% -8.1% -1.1% +12.7% +5.2% -8.1% -1.1%
Total $630,000 + 7.7% $249,000 - 0.4%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Median Sales Price Single-Family Townhouse-Condo


$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000

$100,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
Average Sales Price
The average sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February $641,538 + 13.5% $286,960 + 8.1%


$631,149 $631,149 March $639,192 + 8.5% $287,008 + 16.1%
$599,891 $599,891
$574,102 $574,102 April $706,415 + 20.5% $263,050 - 0.2%
May $699,957 + 16.2% $299,663 + 13.6%
June $710,241 + 4.6% $280,475 - 8.6%
July $755,344 + 15.0% $299,547 - 0.4%
August $719,254 + 9.1% $274,917 - 6.1%
$259,703 $262,231 $259,703 $262,231
$233,014 $233,014 September $715,710 + 1.1% $300,864 + 1.0%
October $684,130 + 4.5% $276,169 - 2.0%
November $644,108 - 1.8% $268,540 - 4.6%
December $621,952 - 2.6% $258,775 - 16.1%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January $599,891 - 5.0% $233,014 - 11.1%
+ 9.9% - 5.0% + 1.0% - 11.1% + 9.9% - 5.0% + 1.0% - 11.1%
Total $685,613 + 6.9% $279,520 - 1.4%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Average Sales Price Single-Family Townhouse-Condo


$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Percent of Original List Price Received
The average percentage found when dividing a property's sales price by the original list price. Sold properties only. Does not account for seller concessions.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 97.3% + 6.1% 96.7% + 8.4%


March 96.4% + 5.5% 96.5% + 8.5%
96.8% 95.5% 96.8% 95.5% April 96.2% + 3.3% 94.9% + 5.5%
92.7% 91.7% 91.1% 90.2% 92.7% 91.7% 91.1% 90.2%
May 97.2% + 4.6% 95.3% + 5.5%
June 96.3% + 2.0% 95.7% + 4.8%
July 95.7% + 1.2% 93.5% - 2.1%
August 96.0% + 0.7% 95.2% + 2.2%
September 94.5% - 0.7% 94.1% - 2.6%
October 93.9% - 1.9% 91.9% - 3.6%
November 93.9% - 2.2% 92.2% - 3.4%
December 92.8% - 3.2% 90.6% - 6.0%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 91.7% - 5.3% 90.2% - 5.5%
+4.4% -5.3% +4.8% -5.5% +4.4% -5.3% +4.8% -5.5%
Total 95.3% + 0.8% 94.1% + 0.7%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Percent of Original List Price Received Single-Family Townhouse-Condo


107.5%

105.0%

102.5%

100.0%

97.5%

95.0%

92.5%

90.0%

87.5%
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
Housing Affordability Index
This index measures housing affordability for the region. An index of 120 would mean the median household income was 120% of what's necessary
to qualify for the median priced home under prevailing interest rates. The higher the number, the more affordable our housing is.

January Year to Date Single-


Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 67 - 18.3% 146 - 6.9%


205 205 March 68 - 9.9% 149 - 25.0%
190 190 April 61 - 15.7% 163 - 2.0%
169 169 May 63 - 7.9% 130 - 19.6%
June 64 + 0.6% 145 + 9.9%
July 61 - 2.9% 142 + 9.6%
August 63 - 0.2% 152 + 10.2%
80 75 76 80 75 76 September 66 + 3.6% 143 + 3.2%
October 69 + 2.2% 167 + 20.4%
November 69 + 4.6% 190 + 30.2%
December 77 + 17.4% 179 + 35.9%
2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 January 76 + 2.1% 205 + 7.8%
-6.1% +2.1% +12.3% +7.8% -6.1% +2.1% +12.3% +7.8%
Total 67 -2.0% 159 6.2%
Single-Family Townhouse-Condo Single-Family Townhouse-Condo

Historical Housing Affordability Index Single-Family Townhouse-Condo


220

200

180

160

140

120

100

80

60

40

20
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Inventory of Homes for Sale
The number of properties available for sale in active status at the end of the month.

January Single-
Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 1,034 - 26.9% 593 - 7.6%


March 1,194 - 21.6% 671 - 1.5%
1,358
April 1,343 - 16.6% 701 + 7.0%
1,133 May 1,475 - 7.1% 684 + 12.7%

961 June 1,500 - 4.6% 729 + 20.3%


July 1,609 + 7.3% 801 + 35.1%
735 August 1,630 + 15.1% 837 + 33.1%
669
553 September 1,646 + 24.1% 885 + 42.1%
October 1,680 + 30.2% 898 + 48.7%
November 1,628 + 36.8% 859 + 51.8%
December 1,414 + 28.5% 828 + 46.0%
2009 2010 2011 2009 2010 2011 January 1,133 + 17.9% 735 + 32.9%
-29.2% +17.9% -17.3% +32.9% Total 1,441 + 4.8% 768 + 25.9%
Single-Family Townhouse-Condo

Historical Inventory of Homes for Sale Single-Family Townhouse-Condo


2,000

1,750

1,500

1,250

1,000

750

500

250

0
1-2003 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12
Months Supply of Inventory
Compares the number of active listings available to the average monthly pending sales for the last 12 months.

January Single-
Family
YoY
Chg.
Townhouse-
Condo
YoY
Chg.

February 3.0 - 34.4% 3.5 - 24.2%


4.9 March 3.4 - 30.3% 3.9 - 21.2%
4.5 April 3.8 - 26.8% 4.0 - 12.9%
4.2
May 4.0 - 19.0% 3.8 - 8.6%

3.3 June 4.1 - 17.1% 4.1 + 0.3%


3.1
2.8 July 4.5 - 3.7% 4.5 + 17.0%
August 4.5 + 3.9% 4.7 + 17.8%
September 4.5 + 11.8% 5.1 + 29.4%
October 4.7 + 20.6% 5.2 + 36.7%
November 4.6 + 31.9% 5.0 + 46.5%
December 3.9 + 22.8% 4.8 + 42.0%
2009 2010 2011 2009 2010 2011 January 3.1 + 12.2% 4.2 + 27.6%
-37.2% +12.2% -32.8% +27.6% Total 4.0 - 5.4% 4.4 + 9.9%
Single-Family Townhouse-Condo

Historical Months Supply of Inventory Single-Family Townhouse-Condo


8

0
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011

All data comes from the CCAR Multiple Listing Service. Provided by Contra Costa Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 13