Report v1203 real market reports

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REAL ESTATE MARKET REPORT

SUGARLOAF KEY

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Sunday, October 3

2021

TABLE OF CONTENTS

Charts and Commentary ........................................................ Market Summary Table ........................................................ Glossary ...........................................................................

Pages 1-2 Page 3 Page 4

Margarita Villoch

Margarita Villoch 300 Southard Street, Suite 206 Key West, FL 33040 margarita@ 305-295-7110 305-304-8505







Real Market Reports

REAL ESTATE MARKET REPORT

SUGARLOAF KEY

Sunday, October 3, 2021

Let's take a look

at the real estate market. Currently there is 1 sale pending in the market overall, leaving 18 listings still for sale. The resulting pending ratio is 5.3% (1 divided by 19). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.

"Current inventory is described as somewhat slow."

Margarita Villoch

Margarita Villoch margarita@

305-295-7110

Taking a closer look, we notice that the single pending listing is found in the $1.8M - $2.1M price range.

We also notice that the $600K - $900K price range has a relatively large inventory of properties for sale at 4 listings. The median list price (or asking price) for all properties in this market is $1,174,500.

Properties For Sale Contracts Pending 5 4 4 3 3 2 2 1 1 0

Number of Listings For Sale vs. Pending Contract Sugarloaf Key

Updated on 10/3/2021, Copyright ? Margarita Villoch

$0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M

$0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M

Sold Off-Market 14 12 10 8 6 4 2 0

Num Sold vs. Off-Market (Last 6 mos.) Sugarloaf Key

Updated on 10/3/2021, Copyright ? Margarita Villoch

A total of 37 contracts have closed in the last 6 months with a median sold price of $899,000. Breaking it down, we notice that the $600K - $900K price range contains the highest number of sold listings.

Alternatively, a total of 8 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $600K - $900K price range has a high number of off-market listings at 2 properties.

Real Market Reports

1



Market Dashboard

REAL ESTATE MARKET REPORT

SUGARLOAF KEY

Sunday, October 3, 2021

Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 82 days.

Analysis of sold properties for the last six months reveals a median sold price of $899,000 and 17 days on market. Notice that properties in the $2.1M - $2.4M price range have sold quickest over the last six months.

The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $932,500 with a DOM of 38 days.

Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Sold For Sale 250

200

150

100

50

0

Margarita Villoch

Margarita Villoch margarita@

305-295-7110

Median Days on Market (DOM) Sugarloaf Key

Updated on 10/3/2021, Copyright ? Margarita Villoch

$0K $300K $600K $900K $1.2M $1.5M $1.8M $2.1M $2.4M $2.7M $3.0M $3.3M $3.6M $3.9M $4.2M

"The median list-to-sales ratio for this area is 97.8%."

Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 2.9 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.

$1400K $1200K $1000K

$800K $600K $400K $200K

$0K May

Median Sold Prices Sugarloaf Key

Copyright ? Margarita Villoch Updated on 10/3/2021,

Jun

Jul

Aug

Sep

Oct

80 70 60 50 40 30 20 10

0 (10)May

Median Days on Market (Sold) Sugarloaf Key

Copyright ? Margarita Villoch Updated on 10/3/2021,

Jun

Jul

Aug

Sep

Oct

Real Market Reports

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Market Dashboard

REAL ESTATE MARKET REPORT

SUGARLOAF KEY

Sunday, October 3, 2021

MARKET SUMMARY TABLE

1 PENDING [2]

A = Average Value M = Median Value N/A = Not Available

Price Range

Low

High

18 ACTIVE [1]

Num #

Days on Market

Current List Price

Num Pend Num # Ratio #

$0

$299,999

0

0

0

$300,000 $599,999 $600,000 $899,999 $900,000 $1,199,999 $1,200,000 $1,499,999 $1,500,000 $1,799,999 $1,800,000 $2,099,999

A 98 $ 327,000

2

0

0

M 98 $ 327,000

A 53 $ 712,975

4

0

2

M 49 $ 709,000

A 89 $ 1,016,300

3

0

1

M 94 $ 1,019,000

A 76 $ 1,353,500

4

0

0

M 57 $ 1,347,500

A 235 $ 1,599,999

1

0

2

M 235 $ 1,599,999

A 206 $ 1,849,000

1

1 50% 0

M 206 $ 1,849,000

$2,100,000 $2,399,999 0

0

0

$2,400,000 $2,699,999 0

0

0

$2,700,000 $2,999,999 0

0

0

$3,000,000 $3,299,999 0

0

1

A 98 $ 3,387,000

$3,300,000 $3,599,999 2

0

1

M 98 $ 3,387,000

$3,600,000 $3,899,999 0

0

0

Margarita Villoch

Margarita Villoch margarita@

305-295-7110

8 OFF-MARKET (last 6 mos) [3]

ABSORPTION RATE

(months of inventory)

37 SOLD/CLOSED (last 6 months) [4]

Num #

Days on Market

Original List Price

Final List Price

Sold/ Closed Price

ListSale Ratio

Est. Mos.

0

A 34 $ 501,917 $ 501,917 $ 501,417 100%

6

2

M 11 $ 530,000 $ 530,000 $ 530,000 100%

A 29

13

M4

$ 803,731 $ 797,800 $ 776,154 97%

1.8

$ 799,000 $ 795,000 $ 760,000 96%

A 48 $ 1,021,857 $ 1,006,571 $ 995,571 99%

7

2.6

M 58 $ 995,000 $ 985,000 $ 965,000 98%

A 60 $ 1,342,225 $ 1,335,975 $ 1,342,250 100%

4

6

M 63 $ 1,349,950 $ 1,337,450 $ 1,350,000 101%

A 203 $ 1,699,500 $ 1,642,250 $ 1,541,250 94%

4

1.5

M 146 $ 1,700,000 $ 1,635,000 $ 1,537,500 94%

0

A2

1

M2

$ 2,250,000 $ 2,250,000 $ 2,250,000 100%

N/A

$ 2,250,000 $ 2,250,000 $ 2,250,000 100%

0

A

1 M

$ 2,700,000 $ 2,700,000 $ 2,700,000 100%

N/A

$ 2,700,000 $ 2,700,000 $ 2,700,000 100%

A 164 $ 3,495,000 $ 3,799,999 $ 3,250,000 86%

1

N/A

M 164 $ 3,495,000 $ 3,799,999 $ 3,250,000 86%

0

0

$3,900,000 $4,199,999 0

0

1

0

$4,200,000

+

A 47 $ 4,249,000

1

0

M 47 $ 4,249,000

0

0

Market Totals

18

1 5% 8 37

2.9

Market Averages

92 $1,468,933

58 $1,114,186 $1,110,589 $1,075,716 97%

Market Medians

82 $1,174,500

17 $ 929,000 $ 919,000 $ 899,000 98%

Date Range (Off-Market & Sold) = 04/04/2021 to 10/03/2021 Data believed to be accurate but not guaranteed.

Status = [1] A; [2] P; [3] E, L, W; [4] C Property Type = Residential Key/Island = Sugarloaf Key

Favors Sellers

Favors Buyers

Real Market Reports

3



Market Summary Table

REAL ESTATE MARKET REPORT

SUGARLOAF KEY

Sunday, October 3, 2021

Margarita Villoch

Margarita Villoch margarita@

305-295-7110

1. PROPERTIES FOR SALE (ACTIVE)

a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement.

b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing.

c. Current List Price: The price that a property seller is currently asking.

2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.

b. Pending Ratio: Sometimes called a "list-to-pending ratio". This is a measure of how fast properties are going under contract vs. how fast they are being listed.

Pending Ratio = P (Number of Pending Listings) A+P (Number of Active + Pending)

(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen

3. OFF-MARKET

a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale.

4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months.

b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.

c. Original List Price: The price at which a sold property was originally marketed.

d. Final List Price: The price at which a sold property was marketed just prior to selling.

e. Sold/Closed Price: The price for which a property sold.

f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.

List to Sales Ratio = Sold Price Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY

a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.

Real Market Reports

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Glossary

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