2013-09-05 20:39:02 -
FOR IMMEDIATE RELEASE
Media Contact: Stacey Corso
EMERYVILLE, Calif., Sept. 5, 2013 - New data released today by ZipRealty, Inc.
( www.ziprealty.com) (NASDAQ: ZIPR), the nation's most prominent online
technology-powered real estate brokerage firm and real estate marketing
solutions provider, shows ongoing strength, tempered by moderation, in the
Median home sales prices were up 16.2% year-to-year to an average of $278,000 in
24 markets analyzed in the Aug. 15 edition of ZipRealty's Housing Trends Report,
and new pending sales increased by 19% in mid-August 2013 compared to the
previous year, according to ZipRealty CEO and President Lanny Baker.
"In the wake of this year's strong rebound in housing, sellers continue to bring
an increasing amount of for sale inventory onto the market, with 173,000 new
listings in the recent 30-day period, a 10%
increase over the prior year. And,
those new listings are selling well, with an average sold-to-list price ratio of
99.1% and an average of 28 days between listing and sale," says ZipRealty CEO
and President Lanny Baker.
"Higher mortgage interest rates and the seasonal slowdown that typically occurs
in the fall are expected to cause a degree of moderation in housing market
trends. For the first time in several months, the median days on market ticked
upward in the current report to 28 days from 27 days a few weeks ago. More than
half of the cities studied saw the length of time it takes to sell a house rise
by a day or two," he adds.
* Median days on market ticked upward in the current report to 28 days from
27 days two weeks ago.
* More than half of the cities studied saw the length of time it takes to sell
a house rise by a day or two.
* The West continues to see the biggest price gains, with sales prices up 30%
to 40% year-over-year in Sacramento, the Bay Area, Las Vegas and Los
* The Mid-Atlantic region is more subdued: Prices are up 4% to 7% year-over-
year in Baltimore, Richmond and Philadelphia.
* In Texas, the supply of inventory is down 25% to 28% from this time last
year in Austin, Dallas and Houston.
* The volume of new listings was down 18% annually in Austin and grew more
slowly than Houston.
* Prices are up 10% to 12% in those Texas markets today, and the relatively
tight inventory conditions there might point to further price increases
there in the months ahead.
A full copy of the report can be downloaded here: bit.ly/19mpLOp
About ZipRealty, Inc.
ZipRealty is a leading national real estate brokerage and provider of
proprietary technology and comprehensive online marketing tools for the
residential real estate brokerage industry. For home buyers and sellers who
increasingly want control, choice and a seamless, customized service, ZipRealty
offers Internet-enabled, state-of-the-art technology and complete access to
accurate, timely information via their website and mobile applications, which
real estate professionals can combine with their own local knowledge and
personal expertise to offer an exceptional start-to-finish client experience.
For real estate professionals who seek more productive ways to conduct business,
ZipRealty provides technology and online marketing tools to enhance their online
sales channel, including lead generation, conversion and service of their
clients. ZipRealty's technology and online marketing products serve its full-
service, owned-and-operated residential real estate brokerage business in 19
markets nationwide, as well as its Powered by Zip network of leading third-party
local brokerages in 17 markets.
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Source: ZipRealty via Thomson Reuters ONE