ARMLS RENT Check™ – December 7, 2013

Median Lease: $1,095 vs $1,095, Month-over-Month flat

Average Lease: $1,270 vs $1,263, Month-over-Month +0.55%

Average Days on Market: 46 vs 44, Month-over-Month +4.55%

Rent Check Quotient™: 63% vs 55%, Month-over-Month +8%

Median Lease stayed the same as the last month and slightly below 3-month average of $1,100. Average Lease went back up slightly and stay atop of 3 month average of $1,265. Days on Market (DOM) increased again and it is now 46 days and we will continue watching out for you.

Rent Check Quotient is at the range of 30% – 36% in a normal market. So, the mumber of leases is still on the high side and it needs to be watched closely.

Rent Check Quotient™ (RCQ™) is derived by dividing the # of leases by the # of closed sales

All above stats are for single family homes rentals. Condominium and apartment rentals are not included.

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