MLS of Greater Cincinnati - Charts for the Month: May 2017
The following charts provide an overview of what has occurred in the MLS over the past month. Each chart provides a
historical trend. The following is a description of each chart along with any specific highlight points.
1)
“Existing & New Sales (Sold / Closed)” – Single Family and Condos – shows, by month for each year, the number of
closed sales in the MLS.
2)
“Average Price” – Home Sales (Condos included) – shows, by month for each year, the average price of closings in the
MLS. Note: The avg. sales price for May 2017 is up +2.90% compared to May 2016.
3)
“Median Price” – Home Sales (Condos included) – shows, by month for each year, the median price of closings in the
MLS. Note: The median sales price for May 2017 is up +1.91% compared to May 2016 and is down -1.84% over
April 2017.
4)
“Average SP / LP %” – Home Sales (Condos included) – shows the average sale price to list price % of closings in the
MLS by month. The avg. SP / LP% is computed against the current list price of the property when it sold. It does not take
into account if the property was previously listed at a higher list price.
5)
“Active Inventory” – Single Family and Condos – snapshot of the active inventory on the 1st business day of each month.
Note: The inventory for May 2017 is down -24.98% compared to May 2016 and is up +4.14% compared to April
2017.
6)
“New Listings” – Single Family and Condos – shows the # of new listings entered into MLS for a given month, no matter
the current status. Note: New listings for May 2017 are up +0.29% compared to May 2016 and are up +11.60% over
April 2017.
7)
“Month’s Supply” – Single Family and Condos – shows, by month, the current active inventory, and the closings
reported that month and the # of month’s supply of inventory by dividing the inventory by the # of closings. Note: The
May 2017 month’s supply is 1.88 months compared to 2.62 months for May 2016. 5–6 month’s supply represents a
balanced market between buyers and sellers. Over 6 is a buyer’s market; fewer than 5.5 is a seller’s market.
8)
“Active Inventory, New Listings, Closings” – Single Family & Condos – shows the monthly inventory, closings and
new listings that were reported in MLS.
9)
“New Pendings” (New and Existing) – Single Family and Condos – shows, for each month, the number of pending sales
reported in the MLS, no matter the current status. Note: Pending sales for May 2017 are up +3.72% over May 2016 and
up +4.30% over April 2017.
10) “Average DOM for Closings – (List Date to Under Contract Date)” – Single Family and Condos – shows, for a given
month, the average DOM of closings in the MLS. Note: The average DOM is computed against the current list date of the
property to when it changed to the pending status. It does not take into account if the property was previously listed, which
tends to skew this number.
11) “Existing Construction Closings” – Single Family Homes – (excludes Condos) – shows the # of closings for single
family homes that have been previously occupied. Note: Single Family only, existing construction closings for May
2017 are up +1.97% compared to May 2016.
12) “New Construction Closings” – Single Family Homes – (excludes Condos) – shows the # of closings for single family
homes that have never been occupied. Note: Single Family only, new construction closings for May 2017 are up +21.35%
compared to May 2016.
13) “Month’s Supply of Active Inventory” (Inventory / Closings) – Single Family and Condos – a balanced market in the
USA, per NAR, generally has between 5.5 – 6 months of active inventory. This chart provides an image of the # of
month’s supply of active inventory on a monthly basis. Month’s supply above 6 months is considered a Buyer’s market
and less than 5.5 months is considered a Seller’s Market.
14) Avg/Med Price Combined Residential Sales (Single Family & Condos) – shows a comparison of Average sales price to
Median sales price on a monthly basis. Note that the annual % of median to average sales price for the past 4 years is
around 78.7%.
Existing & New Home Sales (w/Condos)
'12
2900
2700
2500
2300
2100
1900
1700
1500
1300
1100
900
700
Jan.
Feb.
Mar.
Apr.
'13
May
'14
Jun.
'15
Jul.
'16
Aug.
'17
Sep.
Oct.
Nov.
Dec.
Nov.
Dec.
Nov.
Dec.
Source: MLS of Greater Cincinnati
Home Sales Average Price (w/Condos)
Source: MLS of Greater Cincinnati
'12
'13
'14
'15
'16
'17
May
Jun.
Jul.
Aug.
Sep.
Oct.
$220,000
$210,000
$200,000
$190,000
$180,000
$170,000
$160,000
$150,000
$140,000
$130,000
$120,000
Jan.
Feb.
Mar.
Apr.
Home Sales - "Median Price" (w/Condos)
'12
13
'14
'15
'16
'17
May
Jun.
Jul.
Aug.
Sep.
Oct.
175000
165000
155000
145000
135000
125000
115000
105000
95000
Jan.
Feb.
Mar.
Apr.
Home Sales - Average SP / LP %
Source: MLS of Greater Cincinnati
0.99
0.985
0.98
0.975
0.97
0.965
0.96
0.955
0.95
0.945
0.94
0.935
0.93
Jan.
Feb.
Mar.
Apr.
'12
'13
May
Jun.
'14
Jul.
(w/Condos)
'15
'16
Aug.
Sep.
'17
Oct.
Nov.
Dec.
Oct.
Nov.
Dec.
Residential Inventory (w/Condos)
Source: MLS of Greater Cincinnati
'12
'13
'14
'15
'16
'17
14000
13000
12000
11000
10000
9000
8000
7000
6000
5000
4000
Jan.
Feb.
Mar.
Apr.
May
Jun.
Jul.
Aug.
Sep.
"New Listings" - Single Family and Condos
Source: MLS of Greater Cincinnati
5250
5000
4750
4500
4250
4000
3750
3500
3250
3000
2750
2500
2250
2000
1750
1500
1250
Jan.
Feb.
Mar.
'12
Apr.
May
'13
Jun.
'14
Jul.
'15
Aug.
'16
Sep.
"Months Supply" - Single Family and Condos
'17
Oct.
Nov.
Dec.
"Months Supply" - Single Family and Condos
# Listings
12000
Sales (Sold/Closed)
Active Residential Inventory
Absorption Rate (# Months Supply)
# Months
14.0
13.0
11000
12.0
10000
11.0
9000
10.0
8000
9.0
7000
8.0
6000
7.0
5000
6.0
4000
5.0
4.0
3000
3.0
Apr'17
Jan'17
Oct '16
Jul '16
Apr '16
Jan '16
Oct '15
Jul '15
Apr '15
Jan '15
Oct '14
Jul '14
Apr '14
Jan '14
Source: MLS of Greater Cincinnati
" Active Inventory, New Listings, Closings" - Single Family and Condos
# Listings
New Listings Entered
Active Residential Inventory
Sales (Sold / Closed)
Apr'17
Jan'17
Oct '16
Jul '16
Apr '16
Jan '16
Oct '15
Jul '15
Apr '15
Jan '15
Oct '14
Jul '14
Apr '14
Jan '14
Oct-13
July-13
Apr-13
Jan-13
12000
11000
10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
Oct-13
0.0
July-13
1.0
0
Apr-13
2.0
1000
Jan-13
2000
Source: MLS of Greater Cincinnati
"New Pendings" - (New and Existing) - Single Family & Condo
'10
3200
3000
2800
2600
2400
2200
2000
1800
1600
1400
1200
1000
Jan
Feb
Mar
Apr
May
'11
Jun
'12
Jul
Aug
'13
Sep
Oct
Nov
Source: MLS of Greater Cincinnati
Dec
"Average DOM for Closings - (List Date to Under Contract Date)" - Single Family and Condos
'12
93
88
83
78
73
68
63
58
53
48
43
38
33
Jan.
Feb.
Mar.
Apr.
'13
May
'14
Jun.
'15
Jul.
'16
Aug.
'17
Sep.
Oct.
Nov.
Dec.
Source: MLS of Greater Cincinnati
"Existing Construction Closings" - Single Family Homes - (excludes Condos)
'12
'13
'14
'15
'16
'17
3000
2750
2500
2250
2000
1750
1500
1250
1000
750
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Nov
Dec
"New Construction Closings" - Single Family Homes - (excludes Condos)
'12
'13
'14
'15
'16
'17
130
120
110
100
90
80
70
60
50
40
30
20
10
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Months Supply of Active Inventory" (Inventory / Current Month Closings) Single Family and Condos
# Months
Inventory
High End - Balanced - Cinci - 5 Months
Low End - Balanced - Cinci - 4. 5 Months
Closed Sales to Active Inventory Ratio
Pendings to Active Inventory Ratio
12.0
Source: MLS of Greater Cincinnati
11.0
10.0
9.0
8.0
Buyer's Market
7.0
6.0
Balanced Market
5.0
4.0
Seller's Market
3.0
2.0
1.0
42841
42751
42659
42567
42476
42385
42292
42200
42109
42019
Oct 14
Jul 14
Apr 14
Jan 14
Oct '13
Jul '13
Apr '13
Jan-13
Oct 12
Jul 12
Apr 12
Jan-12
Combined Residential Sales (Single Family & Condos)
Avg. Sale Price
Median Sale Price
$230,000
2014
% Med. Price /
Avg. Price =
77.4%
2013
% Med. Price /
Avg. Price =
78.9%
$220,000
$210,000
2015
% Med. Price /
Avg. Price =
78.5%
$200,000
2017
% Med. Price /
Avg. Price =
78.7%
2016
% Med. Price /
Avg. Price =
78.8%
$190,000
$180,000
$170,000
$160,000
$150,000
$140,000
$130,000
$120,000
$110,000
$100,000
Apr-17
Jan-17
Oct-16
Jul-16
Apr-16
Jan-16
Oct-15
Jul-15
Apr-15
Jan-15
Oct-14
Jul-14
Apr-14
Jan 14
Oct 13
July 13
Apr 13
Jan 13
Source: MLS of Greater Cincinnati