August 2013 Housing Report

July 2013 Monthly Snapshot

One-Year Change in One-Year Change in

Single FamilySold Listings

Single FamilyDays On Market

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101112131415

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Monthly Indicators

+ 22.6% - 14.5% + 9.6%One-Year Change in

It won't be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the downturn, much inventory was purchased by these groups. Now that prices are rising, there's less incentive for these kinds of buyers, yet affordability for consumers remains attractive.

New Listings were up 3.0 percent for single family homes and 31.9 percent for townhouse-condo properties. Pending Sales decreased 71.2 percent for single family homes and 68.2 percent for townhouse-condo properties.

The Median Sales Price was up 9.6 percent to $271,750 for single family homes and 1.4 percent to $156,600 for townhouse-condo properties. Single family properties have 4.2 months supply of inventory and townhouse-condo have 3.1 months of supply. With mortgage rates slightly up but relatively low by historic standards, the Fed has indicated no change in monetary policy based on a moderately-paced economic expansion. Although the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping the greater economy with flourishing activity in sales and prices. Housing has made a positive contribution to real GDP growth for 11 consecutive quarters.

Single FamillyMedian Sales Price

Residential real estate activity in Area 9, comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.

Single Family Activity Overview

All Properties Activity Overview

Current as of August 10, 2013. All data from IRES, LLC. Powered by 10K Research and Marketing.

Townhouse-Condo Activity Overview

Days on Market Until SaleHousing Affordability IndexAll Properties Activity OverviewGlossary of TermsMonths Supply of Inventory

New ListingsPending SalesSold ListingsMedian Sales PriceAverage Sales PricePercent of List Price Received

Single Family Activity OverviewKey metrics for Single Family by report month and for year-to-date (YTD) starting from the first of the year.

Key Metrics Historical Sparkbars 7-2012 7-2013 Percent Change YTD-2012 YTD-2013 Percent Change

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Current as of August 10, 2013. All data from IRES, LLC. Powered by 10K Research and Marketing. | Click for Cover Page | 14

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Months Supply Not enough historical data for chart -- 4.2 -- --

Active Listings Not enough historical data for chart -- 1,093 -- --

Affordability Index 150 129 - 14.0% 152 134 - 11.8%

Pct. of List Price Received 98.9% 99.1% + 0.2% 98.4% 98.9% + 1.0%

Average Sales Price $280,581 $313,784 + 11.8% $278,366 $297,544

Days on Market 83 71 - 14.5% 104 83 - 20.2%

-- --

Sold Listings 319 391 + 22.6% 1,642 1,941 + 18.2%

Median Sales Price $248,000 $271,750 + 9.6% $243,784 $261,622 + 7.3%

+ 6.9%

+ 11.1%

Pending Sales 295 85 - 71.2% 1,881 1,832 - 2.6%

New Listings 399 411 + 3.0% 2,431 2,700

Under Contract Not enough historical data for chart -- -- -- --

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

Townhouse-Condo Activity OverviewKey metrics for Townhouse-Condo by report month and for year-to-date (YTD) starting from the first of the year.


-- --


-- --


Active Listings Not enough historical data for chart -- 196 -- --

Affordability Index 221 206 - 6.8% 223 199 - 10.8%



Days on Market 91 59 - 35.2% 95 73 - 23.2%

-- --

Sold Listings 81 90 + 11.1% 411 469 + 14.1%


+ 8.5%

+ 3.2%

Pending Sales 66 21 - 68.2% 473 457 - 3.4%

New Listings 72 95 + 31.9% 563 581


7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

New Listings

New ListingsSingleFamily

Year-Over-YearChange

Townhouse-Condo


Aug-2012 346 +16.9% 72 +22.0%

Sep-2012 246 +0.8% 57 +9.6%

Oct-2012 264 +24.5% 66 +106.3%

Nov-2012 194 +38.6% 48 +23.1%

Dec-2012 138 +0.7% 26 -10.3%

Jan-2013 267 +23.0% 50 +2.0%

Feb-2013 293 +5.0% 67 +15.5%

Mar-2013 365 +4.6% 78 -29.7%

Apr-2013 383 +1.6% 115 +16.2%

May-2013 506 +19.1% 87 +1.2%

Jun-2013 475 +23.4% 89 +1.1%

Jul-2013 411 +3.0% 95 +31.9%

12-Month Avg 324 +12.4% 71 +9.8%

Historical New Listings by Month


A count of the properties that have been newly listed on the market in a given month.

322

64

399

72

411

95

Single Family Townhouse-Condo

July

0

100

200

300

400

500

600

1-2009 1-2010 1-2011 1-2012 1-2013


2,286

527

2,431

563

2,700

581


Year to Date

2011 2012 2013

+ 31.9% + 12.5% + 3.0% + 23.9% + 6.8% + 11.1% + 6.3% + 3.2%

2011 2012 2013 2011 2012 2013 2011 2012 2013

+ 3.5% - 14.4% - 25.1% - 14.7%

Pending Sales

Pending SalesSingleFamily


Townhouse-Condo


Aug-2012 229 +8.5% 59 +40.5%

Sep-2012 223 +51.7% 51 +15.9%

Oct-2012 220 +33.3% 51 +30.8%

Nov-2012 179 +14.0% 44 +29.4%

Dec-2012 164 +41.4% 33 -5.7%

Jan-2013 235 +35.8% 53 +39.5%

Feb-2013 248 +5.5% 53 +1.9%

Mar-2013 326 +16.4% 75 +41.5%

Apr-2013 296 +4.2% 105 +10.5%

May-2013 337 +8.7% 82 -4.7%

Jun-2013 305 +0.3% 68 -18.1%

Jul-2013 85 -71.2% 21 -68.2%

12-Month Avg 237 +6.4% 58 +4.2%

Historical Pending Sales by Month

A count of the properties on which offers have been accepted in a given month.


238

57

295

66 85

21


July

0

100

200

300

400

1-2009 1-2010 1-2011 1-2012 1-2013


1,532

403

1,881

473

1,832

457


Year to Date

2011 2012 2013

- 68.2% + 15.8% - 71.2% + 23.9% + 17.4% - 2.6% + 22.8% - 3.4%

2011 2012 2013 2011 2012 2013 2011 2012 2013

+ 47.8% - 1.2% - 3.6% + 26.7%

Sold Listings

Sold ListingsSingleFamily


Townhouse-Condo


Aug-2012 297 +26.4% 86 +19.4%

Sep-2012 250 +33.7% 58 +13.7%

Oct-2012 227 +33.5% 49 +19.5%

Nov-2012 217 +29.9% 50 +51.5%

Dec-2012 175 +1.7% 49 +22.5%

Jan-2013 168 +54.1% 34 -15.0%

Feb-2013 184 +52.1% 40 +73.9%

Mar-2013 265 +15.7% 51 0.0%

Apr-2013 282 +16.5% 66 +46.7%

May-2013 327 +10.1% 100 +29.9%

Jun-2013 324 -0.3% 88 -6.4%

Jul-2013 391 +22.6% 90 +11.1%

12-Month Avg 259 +20.8% 63 +17.4%

Historical Sold Listings by Month

A count of the actual sales that closed in a given month.


264

55

319

81

391

90


July

0

100

200

300

400

1-2009 1-2010 1-2011 1-2012 1-2013


1,374

354

1,642

411

1,941

469


Year to Date

2011 2012 2013

+ 11.1% + 47.3% + 22.6% + 20.8% + 16.1% + 18.2% + 19.5% + 14.1%

2011 2012 2013 2011 2012 2013 2011 2012 2013

+ 24.5% - 9.4% - 7.1% - 8.3%

Median Sales Price

Median Sales PriceSingleFamily


Townhouse-Condo


Aug-2012 $255,000 +8.1% $145,500 -6.4%

Sep-2012 $249,500 +4.0% $147,500 +3.7%

Oct-2012 $245,000 +3.6% $165,200 +25.2%

Nov-2012 $252,000 +2.9% $166,500 -1.9%

Dec-2012 $245,000 +4.4% $170,000 +8.0%

Jan-2013 $251,547 +6.1% $181,450 +12.0%

Feb-2013 $245,013 +6.5% $146,700 -6.0%

Mar-2013 $255,000 +3.2% $162,500 +9.8%

Apr-2013 $260,450 +6.3% $159,700 +20.1%

May-2013 $265,000 +11.8% $157,500 -1.6%

Jun-2013 $273,250 +9.3% $178,000 +21.1%

Jul-2013 $271,750 +9.6% $156,600 +1.4%

12-Month Avg* $258,000 +7.5% $159,900 +3.4%

Historical Median Sales Price by Month

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

* Median Sales Price for all properties from August 2012 through July 2013. This is not the average of the individual figures above.


$250,000

$150,000

$248,000

$154,500

$271,750

$156,600


July

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

$275,000

1-2009 1-2010 1-2011 1-2012 1-2013


$237,000

$152,950

$243,784

$153,000

$261,622

$163,400


Year to Date

2011 2012 2013

+ 1.4% + 3.0% + 9.6% - 0.8% + 0.0% + 7.3% + 2.9% + 6.8%

2011 2012 2013 2011 2012 2013 2011 2012 2013

+ 3.1% + 3.1% - 0.7% - 8.6%

Average Sales Price

Average Sales Price

SingleFamily


Townhouse-Condo


Aug-2012 $290,104 +6.9% $154,471 -1.5%

Sep-2012 $288,082 -1.9% $158,163 +2.5%

Oct-2012 $284,162 +2.7% $189,530 +36.5%

Nov-2012 $280,422 +1.1% $170,797 +0.6%

Dec-2012 $293,913 +7.7% $188,573 +20.4%

Jan-2013 $288,900 +7.9% $186,919 +11.2%

Feb-2013 $291,269 +16.8% $161,529 +11.3%

Mar-2013 $283,424 -1.9% $173,616 +4.1%

Apr-2013 $288,553 +4.2% $163,762 +7.7%

May-2013 $292,479 +8.6% $175,014 +5.6%

Jun-2013 $310,527 +6.2% $197,450 +20.5%

Jul-2013 $313,784 +11.8% $165,288 +4.4%

12-Month Avg* $293,692 +5.5% $173,137 +8.8%

Historical Average Sales Price by Month

Average sales price for all closed sales, not accounting for seller concessions, in a given month.

* Average Sales Price for all properties from August 2012 through July 2013. This is not the average of the individual figures above.


$275,025

$155,726

$280,581

$158,267

$313,784

$165,288


July

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

1-2009 1-2010 1-2011 1-2012 1-2013


2011 2012 2013

+ 4.4% + 1.6% + 11.8% + 2.0% 2011 2012 2013

+ 4.0% - 6.1%

$270,358

$156,318

$278,366

$161,532

$297,544

$175,335


Year to Date

+ 8.5% + 3.3% 2011 2012 2013 2011 2012 2013

+ 6.9% + 3.0% + 2.6% - 1.8%

Percent of List Price Received

Pct. of List Price Received

SingleFamily


Townhouse-Condo


Aug-2012 98.2% +0.6% 98.3% +0.6%

Sep-2012 98.2% +0.9% 98.3% +2.2%

Oct-2012 98.3% +0.4% 98.0% +1.4%

Nov-2012 98.2% +1.2% 98.1% +0.8%

Dec-2012 97.4% -0.9% 97.9% +0.7%

Jan-2013 97.9% +0.1% 98.4% +2.8%

Feb-2013 98.1% -0.2% 98.4% +3.6%

Mar-2013 98.9% +0.7% 98.9% +0.7%

Apr-2013 99.0% +1.1% 98.9% +1.5%

May-2013 99.2% +0.7% 99.2% +1.2%

Jun-2013 99.3% +0.6% 99.2% +1.1%

Jul-2013 99.1% +0.2% 99.5% +1.4%

12-Month Avg* 98.1% +0.5% 97.4% +1.3%

Historical Percent of List Price Received by Month

Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.

* Pct. of List Price Received for all properties from August 2012 through July 2013. This is not the average of the individual figures above.


97.4% 97.6% 98.9% 98.1% 99.1% 99.5%


July

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

1-2009 1-2010 1-2011 1-2012 1-2013


97.6% 97.5% 98.4% 97.6% 98.9% 99.0%


Year to Date

2011 2012 2013

+ 1.4% + 0.5% + 0.2% + 1.5% + 0.1% + 0.5% + 0.8% + 1.4% 2011 2012 2013 2011 2012 2013 2011 2012 2013

+ 0.6% 0.0% - 0.2% + 0.3%

Days on Market Until Sale

Days on MarketSingleFamily


Townhouse-Condo


Aug-2012 97 -5.8% 73 -20.7%

Sep-2012 93 -16.2% 89 -10.1%

Oct-2012 106 -9.4% 112 +10.9%

Nov-2012 106 -8.6% 60 -50.0%

Dec-2012 107 -10.8% 79 -47.0%

Jan-2013 104 -25.2% 83 -43.5%

Feb-2013 117 -8.6% 123 -12.8%

Mar-2013 84 -35.4% 73 -25.5%

Apr-2013 84 -25.0% 68 -19.0%

May-2013 71 -22.8% 78 0.0%

Jun-2013 76 -18.3% 60 -28.6%

Jul-2013 71 -14.5% 59 -35.2%

12-Month Avg 90 -16.6% 76 -23.7%

Historical Days on Market Until Sale by Month* Days on Market for all properties from August 2012 through July 2013. This is not the average of the individual figures above.


Average number of days between when a property is listed and when an offer is accepted in a given month.

96

129

83 91

71

59


July

50

75

100

125

150

175

200

1-2009 1-2010 1-2011 1-2012 1-2013


114

134

104 95

83 73


Year to Date

2011 2012 2013

- 35.2% - 29.5% - 14.5% - 13.5% - 29.1% - 20.2% - 8.8% - 23.2%

2011 2012 2013 2011 2012 2013 2011 2012 2013

- 8.6% + 7.5% + 14.5% + 13.2%

Housing Affordability Index

Affordability IndexSingleFamily


Townhouse-Condo


Aug-2012 146 -0.7% 231 +11.6%

Sep-2012 151 +2.7% 232 +2.7%

Oct-2012 153 +4.1% 211 -11.0%

Nov-2012 150 +4.2% 211 +7.7%

Dec-2012 155 +3.3% 209 +0.5%

Jan-2013 152 +2.0% 200 -2.0%

Feb-2013 152 -1.3% 231 +9.0%

Mar-2013 147 +2.8% 213 -2.7%

Apr-2013 146 -0.7% 219 -9.5%

May-2013 139 -9.2% 215 +1.4%

Jun-2013 128 -12.9% 184 -18.9%

Jul-2013 129 -14.0% 206 -6.8%

12-Month Avg 146 -12.9% 148 -5.4%

Historical Housing Affordability Index by Month

This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.


136

208

150

221

129

206


July

120

140

160

180

200

220

240

260

1-2009 1-2010 1-2011 1-2012 1-2013


2011 2012 2013

- 6.8% + 6.3% - 14.0% + 10.3% 2011 2012 2013

+ 1.5% + 11.8%

142

205

152

223

134

199


Year to Date

- 10.8% + 8.8% - 11.8% + 7.0% + 1.4% + 4.6% 2011 2012 2013 2011 2012 2013

All Properties Activity OverviewKey metrics by report month and for year-to-date (YTD) starting from the first of the year.


-- --


-- --


Active Listings Not enough historical data for chart -- 1,289 -- --

Affordability Index 1,032 1,029 - 1.3% 993 980 - 1.3%



Days on Market 85 69 - 21.4% 103 81 - 21.4%

-- --

Sold Listings 400 481 + 20.3% 2,053 2,410 + 17.4%


+ 7.4%

+ 9.6%

Pending Sales 361 106 - 70.6% 473 457 - 3.4%

New Listings 471 506 + 7.4% 2,994 3,281


7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

7-2010 7-2011 7-2012 7-2013

Glossary of Terms

New Listings

Pending Sales

Under Contract Activity

Sold Listings

Median Sales Price

Average Sales Price

Percent of List Price Received

Days on Market Until Sale

Housing Affordability Index

Active Listings

Months Supply of Inventory

Current as of July 16, 2013. All data from IRES, LLC. Powered by 10K Research and Marketing. | Click for Cover Page | 13

A sum of all home sales prices divided by total number of sales.

A mathematical calculation of the percent difference from last list price and sold price for those listings sold in the reported period.

A sum of all home sales prices divided by total number of sales.

A measure of how affordable a region’s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.

A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices.

A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale.

A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.

A research tool provided by the Colorado Association of REALTORS®

A measure of how much new supply is coming onto the market from sellers (e.g., Q3 New Listings are those listings with a system list date from July 1 through September 30).

A count of all the listings that went into pending status during the reported period. Pending listings are counted at the end of the reported period. Each listing can only be counted one time. If a listing goes into Pending, out of Pending, then back into Pending all in one reported period, this listing would only be counted once. This is the most real-time measure possible for home buyer activity, as it measures signed contracts on sales rather than the actual closed sale. As such, it is called a "leading indicator" of buyer demand.

A count of all listings Under Contract during the reported period. Listings that go Under Contract are counted each day. There is no maximum number of times a listing can be counted as Under Contract. For example, if a listing goes into Under Contract, out of Under Contract, then back into Under Contract all in one reported period, this listing would be counted twice.

A measure of home sales that were closed to completion during the report period.

Documents

August 2013 Housing Report