1

MARKET PULSE
April 2015

Survey Methodology
Monthly online survey of 300+ CA REALTORS
Respondents are asked about their last closed

transaction and business activity in their market area

for the previous month and the last year.

LASTTRANSACTION

Median Sale Price Up 8.4% MTM

Median
$600,000
$500,000
$400,000

$402,000

$300,000
$200,000
$100,000
$0

Q: What was the sale price of your last closed transaction?

SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

$450,000
$415,000

4/10TransactionsClosed BelowAsking Price

Over

Below

At

60%
50%
40%
30%
20%
10%

Q: Did your last closed transaction sell over, at or below asking price?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

Premium Paid OverAsking Price Increased

Average
14.0%
12.0%
10.0%

10%
8.7%

8.0%
6.0%
4.0%
2.0%
0.0%

Q: At what percentage was your last closed transaction sold over asking price?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

7.7%

10%
8.0%

Discount on Asking Price Stable

0.0%
-2.0%
-4.0%
-6.0%
-8.0%
-10.0%
-12.0%
-14.0%

Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr14 14 14 14 14 14 15 15 15 15
Average -5.8 -5.6 -5.8 -6.3 -12% -13% -11% -11% -11% -11%

Q: At what percentage was your last closed transaction sold below asking price?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

2015
YTD
-8.0 -11%

2014

More Properties Receiving MultipleOffers

80%
70%
60%
50%
40%
30%
20%
10%

Q: How many offers did the seller in your last closed transaction receive?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

Number of Offers Up
Average

4.0
3.5
3.0

2.9

2.5
2.0
1.5
1.0
0.5
0.0

Q: How many offers did your last closed transaction receive?

SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

3.6
2.7

10

Share of Listings with Price Reductions Up

35%

33%

30%

25%

25%
20%

26%

28%

29%

31%

31%

31%

20%

15%
10%
5%
0%

Q: Were there any listing price reductions before escrow opened in your last closed transaction?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

28%
23%

11

% of Previous Renters Fluctuates

60%
50%
40%
30%
20%
10%

Q: Was the buyer of your last closed transaction a renter immediately prior to purchasing the property?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

12

Fewer Sellers Becoming Renters

30%
25%
20%
15%
10%
5%

Q: Did the seller of your last closed transaction become a renter immediately after selling the property?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

13

Share of First-time Buyers Fluctuating

45%

% First-time Buyers

Long Run Average

40%
35%
30%
25%
20%
15%
10%
5%

Q: Was the buyer of your last closed transaction a first-time buyer?

SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

14

Majority Purchases are Primary Residences

Primary residence

Vacation home

Other

16%

21%

Q: What was the intended use of the property?

SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

19%

78% 73%

69%

Mar-15

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

Investment

15

International Buyers Fluctuate

% International Buyers

Long Run Average

12%
10%
8%
6%
4%
2%

Q: Was the buyer an international client (one who was not a citizen or permanent resident of the U.S.)?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Oct-14

Sep-14

Aug-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

16

MARKET CONDITIONS

17

Floor Calls from Potential Clients Increased

Last Month
Down

Flat

Up

70%
60%
50%
40%
30%
20%
10%
0%

Q: Compared to last month, the number of floor calls from potential clients in your market area this month was
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

18

ListingAppointments/Presentations toClients
Increase
Last Month

Down

Flat

Up

70%
60%
50%
40%
30%
20%
10%
0%

Q: Compared to last month, the number of listing appointments and presentations to clients in your
market area this month was
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

19

Open HouseTraffic Up from LastYear

Last Month

Down

Flat

Up

80%
60%
40%
20%
0%
Jan-14

Apr-14

Jul-14

Oct-14

Jan-15

Jan-14

Apr-14

Jul-14

Oct-14

Jan-15

LastYear

Apr-15

80%
70%
60%
50%
40%
30%
20%
10%
0%

Q: Compared to last month/year, open house traffic in your market area this month was

Apr-15

20

Auctions Steady
Last Month
80%

Down

Flat

Up

60%
40%
20%
0%
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15

LastYear
80%
60%
40%
20%
0%
Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15
Q: Compared to last month/year, the number of auctions in your market area this month was

21

All Cash Purchases Increasing

Last Month

Down

50%

Flat

Up

40%
30%
20%
10%
0%
Jun-14

Aug-14

Oct-14

Dec-14

Feb-15

Aug-14

Oct-14

Dec-14

Feb-15

Apr-15

LastYear
70%
60%
50%
40%
30%
20%
10%
0%
Jun-14

Q: Compared to last month/year, the number of all cash purchases in your market area this month was

Apr-15

22

Same

Improve

Oct-14

Worsen

Aug-14

Majority of REALTORS Expect Better Market

ConditionsOver the NextYear
70%
60%
50%
40%
30%
20%
10%

Q: What are your expectations for market conditions over the next year?
SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

Apr-15

Mar-15

Feb-15

Jan-15

Dec-14

Nov-14

Sep-14

Jul-14

Jun-14

May-14

Apr-14

Mar-14

Feb-14

Jan-14

0%

23

Top 10 Counties
March 2015

April 2015

Los Angeles

Los Angeles

San Diego

San Diego

Orange

Riverside

Riverside

Orange

Sacramento

San Bernardino

Alameda

Sacramento

Santa Clara

San Mateo

Placer

Santa Clara

San Bernardino

Alameda

10

Sonoma

San Francisco

Q: In which county do you live?

SERIES: Market Pulse Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS