Monthly Indicators $649,888 $420,000 $575,000

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1 Monthly Indicators 2017 brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase. Closed Sales increased 6.3 percent for homes but decreased 7.0 percent for homes. Pending Sales increased 18.8 percent for homes and 0.7 percent for homes. Monthly Snapshot $649,888 $420,000 $575,000 Median Sales Price Homes Median Sales Price Homes Median Sales Price All Properties Combined A research tool provided by the North San Diego County Association of REALTORS for residential real estate activity in North San Diego County. Percent changes are calculated using rounded figures. The Median Sales Price was up 7.4 percent to $649,888 for homes and 13.5 percent to $420,000 for homes. Days on Market decreased 4.2 percent for homes and 30.8 percent for homes. Supply decreased 25.0 percent for homes and 35.7 percent for homes. In case you missed it, we have a new U.S. president. In his first hour in office, the.25 percentage point rate cut on mortgage insurance premiums for loans backed by the Federal Housing Administration (FHA) was removed, setting the table for what should be an interesting presidential term for real estate policy. FHA loans tend to be a favorable option for those with limited financial resources. On a brighter note, wages are on the uptick for many Americans, while unemployment rates have remained stable and relatively unchanged for several months. The system is ripe for more home purchasing if there are more homes available to sell. Activity Overview Activity Overview New Listings Pending Sales Closed Sales Days on Market Until Sale Median Sales Price Average Sales Price Percent of Original List Price Received Housing Affordability Index Inventory of Homes for Sale Months Supply of Inventory All Properties Combined Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime.

2 Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. homes only. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings 1,233 1, % 1,233 1, % Pending Sales % % Closed Sales % % Days on Market % % Median Sales Price $605,000 $649, % $605,000 $649, % Average Sales Price $762,414 $803, % $762,414 $803, % Pct. of Orig. Price Received 96.4% 96.2% - 0.2% 96.4% 96.2% - 0.2% Housing Affordability Index % % Inventory of Homes for Sale 2,248 1, % Months Supply of Inventory % Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 2

3 Activity Overview Key metrics by report month and for year-to-date (YTD) starting from the first of the year. homes only. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings % % Pending Sales % % Closed Sales % % Days on Market % % Median Sales Price $370,000 $420, % $370,000 $420, % Average Sales Price $428,410 $460, % $428,410 $460, % Pct. of Orig. Price Received 96.7% 97.6% + 0.9% 96.7% 97.6% + 0.9% Housing Affordability Index % % Inventory of Homes for Sale % Months Supply of Inventory % Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 3

4 New Listings A count of the properties that have been newly listed on the market in a given month. 1,308 1,308 1,233 1,213 1,233 1, % -5.7% -1.6% + 4.5% -5.4% % + 0.3% -5.7% -1.6% + 4.5% -5.4% % New Listings Feb , % % Mar , % % Apr , % % May , % % Jun , % % Jul , % % Aug , % % Sep , % % Oct , % % Nov % % Dec % % Jan , % % 12-Month Avg 1, % % Historical New Listings by Month 2,000 1,500 1, Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 4

5 Pending Sales A count of the properties on which offers have been accepted in a given month % -5.7% % + 9.2% -8.2% + 0.7% + 1.4% -5.7% % + 9.2% -8.2% + 0.7% Pending Sales Feb % % Mar , % % Apr , % % May , % % Jun , % % Jul % % Aug , % % Sep , % % Oct % % Nov % % Dec % % Jan % % 12-Month Avg % % Historical Pending Sales by Month 1,400 1,200 1, Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 5

6 Closed Sales A count of the actual sales that closed in a given month % + 3.7% + 6.3% -6.9% + 6.1% -7.0% + 0.2% + 3.7% + 6.3% -6.9% + 6.1% -7.0% Closed Sales Feb % % Mar % % Apr , % % May , % % Jun , % % Jul , % % Aug , % % Sep % % Oct % % Nov % % Dec % % Jan % % 12-Month Avg % % Historical Closed Sales by Month 1,400 1,200 1, Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 6

7 Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month % % -4.2% -9.4% % % 0.0% % -4.2% -9.4% % % Days on Market Feb % % Mar % % Apr % % May % % Jun % % Jul % % Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % 12-Month Avg* % % * Days on Market for all properties from February 2016 through This is not the average of the individual figures above. Historical Days on Market Until Sale by Month Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 7

8 Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month. $649,888 $649,888 $605,000 $605,000 $566,000 $566,000 $420,000 $420,000 $337,000 $370,000 $370,000 $337, % + 6.9% + 7.4% + 2.1% + 9.8% % + 0.1% + 6.9% + 7.4% + 2.1% + 9.8% % Median Sales Price Feb-2016 $575, % $370, % Mar-2016 $645, % $380, % Apr-2016 $630, % $390, % May-2016 $650, % $412, % Jun-2016 $650, % $405, % Jul-2016 $630, % $410, % Aug-2016 $635, % $415, % Sep-2016 $634, % $395, % Oct-2016 $650, % $406, % Nov-2016 $620, % $388, % Dec-2016 $629, % $390, % Jan-2017 $649, % $420, % 12-Month Avg* $600, % $372, % * Median Sales Price for all properties from February 2016 through This is not the average of the individual figures above. Historical Median Sales Price by Month $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 8

9 Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month. $766,673 $762,414 $803,142 $803,142 $766,673 $762,414 $428,410 $460,267 $460,267 $428,410 $388,360 $388, % -0.6% + 5.3% + 1.5% % + 7.4% + 1.2% -0.6% + 5.3% + 1.5% % + 7.4% Avg. Sales Price Feb-2016 $754, % $404, % Mar-2016 $797, % $425, % Apr-2016 $767, % $425, % May-2016 $801, % $448, % Jun-2016 $845, % $447, % Jul-2016 $752, % $447, % Aug-2016 $791, % $459, % Sep-2016 $771, % $456, % Oct-2016 $847, % $458, % Nov-2016 $829, % $429, % Dec-2016 $817, % $451, % Jan-2017 $803, % $460, % 12-Month Avg* $798, % $442, % * Avg. Sales Price for all properties from February 2016 through This is not the average of the individual figures above. Historical Average Sales Price by Month $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 9

10 Percent of Original List Price Received Percentage found when dividing a property s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions. 94.8% 96.4% 96.2% 95.4% 96.7% 97.6% % 96.4% 96.2% 95.4% 96.7% 97.6% % + 1.7% -0.2% -0.8% + 1.4% + 0.9% -0.8% + 1.7% -0.2% -0.8% + 1.4% + 0.9% Pct. of Orig. Price Received Feb % +0.1% 97.2% +0.9% Mar % +0.6% 98.1% +1.2% Apr % +0.3% 97.6% +0.5% May % +0.2% 97.8% 0.0% Jun % +0.3% 98.2% +0.7% Jul % +0.1% 98.1% +1.2% Aug % +0.3% 97.9% +0.8% Sep % +0.3% 98.1% +0.8% Oct % -0.2% 97.4% +0.9% Nov % +0.2% 97.4% +1.1% Dec % 0.0% 96.9% +0.2% Jan % -0.2% 97.6% +0.9% 12-Month Avg* 96.6% +0.2% 97.7% +0.8% * Pct. of Orig. Price Received for all properties from February 2016 through This is not the average of the individual figures above. Historical Percent of Original List Price Received by Month 102.0% 100.0% 98.0% 96.0% 94.0% Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 10

11 Housing Affordability Index This index measures housing affordability for the region. For example, 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 % -9.5% % + 6.1% % % + 8.6% -9.5% % + 6.1% % % Affordability Index Feb % % Mar % % Apr % % May % % Jun % % Jul % % Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % 12-Month Avg* % % * Affordability Index for all properties from February 2016 through This is not the average of the individual figures above. Historical Housing Affordability Index by Month Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 11

12 Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month. 2,567 2,248 1, % % % + 7.0% % % Homes for Sale Feb , % % Mar , % % Apr , % % May , % % Jun , % % Jul , % % Aug , % % Sep , % % Oct , % % Nov , % % Dec , % % Jan , % % 12-Month Avg 2, % % Historical Inventory of Homes for Sale by Month 5,000 4,000 3,000 2,000 1,000 0 Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 12

13 Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months % % % + 9.5% % % Months Supply Feb % % Mar % % Apr % % May % % Jun % % Jul % % Aug % % Sep % % Oct % % Nov % % Dec % % Jan % % 12-Month Avg* % % * Months Supply for all properties from February 2016 through This is not the average of the individual figures above. Historical Months Supply of Inventory by Month Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 13

14 All Properties Combined Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Key Metrics Historical Sparkbars Percent YTD 2016 YTD 2017 Percent New Listings 1,673 1, % 1,673 1, % Pending Sales 1,011 1, % 1,011 1, % Closed Sales % % Days on Market % % Median Sales Price $540,000 $575, % $540,000 $575, % Average Sales Price $664,929 $712, % $664,929 $712, % Pct. of Orig. Price Received 96.5% 96.6% + 0.1% 96.5% 96.6% + 0.1% Housing Affordability Index % % Inventory of Homes for Sale 2,772 2, % Months Supply of Inventory % Current as of February 4, All data from Sandicor, Inc. Report 2017 ShowingTime. 14