March 2013 Townhome and Condo Market Summary

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Median Sale Price Average Sale Price Monthly Market Detail - March 2013 Townhouses and Condos Bay County Association of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below) Economists' note : Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. $260K $240K $220K $200K $180K $160K $140K Economists' note : As noted above, 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 alongside the Median Sale Price. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area. $300K $250K $200K $150K Produced 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 Monday, April 22, 2013. Next data release is Wednesday, May 22, 2013. Month Median Sale Price Percent Change Year-over-Year March 2013 $190,000 11.8% February 2013 $199,950 26.2% January 2013 $173,200 -5.1% December 2012 $204,500 2.3% November 2012 $175,000 -5.4% October 2012 $167,500 -13.0% September 2012 $170,000 -0.3% August 2012 $192,000 12.9% July 2012 $175,500 9.8% June 2012 $201,125 25.7% May 2012 $180,000 -0.8% April 2012 $175,000 16.2% March 2012 $170,000 -14.8% 2009 2010 2011 2012 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales) Month Average Sale Price Percent Change Year-over-Year March 2013 $212,073 13.5% February 2013 $198,153 9.8% January 2013 $191,352 -15.5% December 2012 $210,149 2.2% November 2012 $181,461 -10.2% October 2012 $176,254 -11.9% September 2012 $174,015 -7.4% August 2012 $199,361 12.5% July 2012 $202,015 21.3% June 2012 $263,197 51.8% May 2012 $197,006 1.0% April 2012 $200,315 14.8% March 2012 $186,892 -9.5% 2009 2010 2011 2012 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Median Days on Market Monthly Market Detail - March 2013 Townhouses and Condos Bay County Association of REALTORS® This report describes member activity for the association and is not confined to any specific geographic area. Avg. Pct. of Orig. List Price Received Median Days on Market The median number of days that properties sold during the month were on the market Economists' note : Median Days on Market is the amount of time the "middle" property selling this month was on the market. That is, 50% of homes selling this month took less time to sell, and 50% of homes took more time to sell. We use the median rather than the average because the median is not particularly sensitive to sales of homes that took an unusually large amount of time to sell relative to the vast majority of homes in the market. 200 150 100 50 0 Economists' note : The Average Percent of Original List Price Received is an indicator of market conditions, in that in a recovering market, the measure rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market that has shifted from down to up, and is another lagging indicator. 95% 90% 85% 80% 75% Produced 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 Monday, April 22, 2013. Next data release is Wednesday, May 22, 2013. Month Median Days on Market Percent Change Year-over-Year March 2013 73 35.2% February 2013 71 -33.6% January 2013 93 55.0% December 2012 61 -7.6% November 2012 73 -44.7% October 2012 81 -1.2% September 2012 61 -28.2% August 2012 89 0.0% July 2012 76 7.0% June 2012 90 20.0% May 2012 73 -25.5% April 2012 50 -30.6% March 2012 54 -47.6% 2009 2010 2011 2012 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during the month Month Avg. Pct. of Orig. List Price Received Percent Change Year-over-Year March 2013 92.1% 4.4% February 2013 91.9% 4.1% January 2013 92.5% 2.7% December 2012 93.4% 4.5% November 2012 90.0% 3.0% October 2012 90.5% 0.1% September 2012 90.5% 3.9% August 2012 91.2% 2.8% July 2012 91.9% 3.7% June 2012 92.0% 5.4% May 2012 91.9% 3.3% April 2012 91.8% 4.9% March 2012 88.2% -0.8% 2009 2010 2011 2012 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
Page 1 and 2: Closed Sales Monthly Market Detail
Page 3: New Listings Townhouses and Condos
Page 7 and 8: Closed Sales Median Days on Market
Page 9: Closed Sales Median Sale Price Mont

March 2013 Townhome and Condo Market Summary

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