The information listed below is for all single-family residential listings island-wide. If you would like information on other property types, i.e. waterfront only, I will be happy to provide it upon request.
As you will note on the below graph, pending sales are higher than we’ve seen them in the past 15 months. This is great news and shows that there is some recovery and increased buyer confidence.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
For Sale
|
656
|
720
|
9.8% 
|
665
|
720
|
8.3%
|
651
|
720
|
10.6%
|
|
Sold
|
46
|
68
|
47.8%
|
50
|
68
|
36%
|
33
|
68
|
106.1%
|
|
Pended
|
75
|
88
|
17.3%
|
58
|
88
|
51.7%
|
40
|
88
|
120%
|
The below graph depicts the average DOM (Days on Market) and the average sold to list price ratio. In other words, based on April data, sellers of single-family residences might expect to receive, on average, 94% of the list price when their property sells.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
Days on Market
|
127
|
118
|
-7.1% 
|
126
|
118
|
-6.3%
|
149
|
118
|
-20.8%
|
|
Sold/List Diff. %
|
97
|
94
|
-3.1%
|
95
|
94
|
-1.1%
|
96
|
94
|
-2.1%
|
The next graph reflects the average CDOM (Cumulative Days on Market) and the sales price to original list price ratio. As you can see, according to April sales data, sellers of single-family residences received, on average, 89% of the list price when their homes sold. This tells us that the longer a property remains on the market, the less the seller might expect to receive when their property sells.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
Avg CDOM
|
170
|
185
|
8.8%
|
208
|
185
|
-11.1%
|
220
|
185
|
-15.9%
|
|
Sold/Orig LP Diff. %
|
88
|
89
|
1.1%
|
88
|
89
|
1.1%
|
90
|
89
|
-1.1%
|
The following chart shows the average list price and the average sold price of single-family residential listings.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
Avg. Active Price
|
455
|
453
|
-0.4%
|
493
|
453
|
-8.1%
|
471
|
453
|
-3.8%
|
|
Avg. Sold Price
|
309
|
293
|
-5.2%
|
299
|
293
|
-2%
|
255
|
293
|
14.9%
|
The graph below shows the median price of single-family residential listings which have sold in the past 15 months. Simply stated, the “median” price is the price in the middle, as opposed to the “average” price which takes the selling prices of all single-family residential listings sold, adds them together and divides the total by the number of listings sold.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
Median
|
272
|
252
|
-7.4%
|
268
|
252
|
-6%
|
240
|
252
|
5%
|
The next graph depicts the Months of Inventory based on “Pended” sales if no new listings come on the market. Pending sales are a more current indicator of buyer activity than closed sales and show a healthier and more balanced market than we've seen in quite a while.
|
1 month
|
1 year
|
15 months
|
|
|
Mar 10
|
Apr 10
|
% Change
|
Apr 09
|
Apr 10
|
% Change
|
Feb 09
|
Apr 10
|
% Change
|
|
Months of Inventory (Pended Sales)
|
8.7
|
8.2
|
-6.5%
|
11.5
|
8.2
|
-28.6%
|
16.3
|
8.2
|
-49.7%
|
The final graph shows Months of Inventory based on “Closed” sales, if no new listings come on the market.
| 1 month |
1 year |
15 months |
| |
Mar 10 |
Apr 10 |
% Change |
Apr 09 |
Apr 10 |
% Change |
Feb 09 |
Apr 10 |
% Change |
| Months of Inventory (Closed Sales) |
14.3 |
10.6 |
-25.8% |
13.3 |
10.6 |
-20.4% |
19.7 |
10.6 |
-46.3% |
*All reports were published May 2010, based on data available at the end of April 2010. This representation is based in whole or in part on data supplied by the NWMLS. Neither the Board nor its MLS guarantees nor is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all Brokers participating in the MLS.
