Economic Snapshot - City of Martinez

The Martinez Economic Snapshot measures the performance of our local economy based on five main components, all of which are equally weighted.
510KB Sizes 1 Downloads 157 Views
CITY OF MARTINEZ

2ND QUARTER 2017

Economic Snapshot AN OVERVIEW OF OUR LOCAL ECONOMY

The Martinez Economic Snapshot measures the performance of our local economy based on five main components, all of which are equally weighted and seasonally adjusted. We use 2010 as the base year, starting with a value of 100.

NEUTRAL

DEC LIN E

H WT RO G

When compared to Q1 2010, current performance is up 103.5% with significant increases in all five components, as shown below. Average home prices were $650k in Q2 2017, up from $378k in Q1 2010, an increase of 72%. Properties stayed on the market an average of 26 days and there were 132 closed sales. Total valuation of building permits issued was over $5.5 million, up more than $3.9 million compared to Q1 2010. Employment remains strong with nearly 20,000 Martinez residents employed, 2,400 more residents than in Q1 2010. Sales Tax revenue was over $1.2 million, up almost $500k from Q1 2010. Transient Occupancy Tax revenue was over $152k, the highest grossing quarter since Q1 2010.

Current Performance 103.5%

Click on the “Read More” links below to access all individual reports.

CHANGES OVER THE YEARS ...a look at how our economy has performed 250

150

100

50

Q2-17

Q1-17

Q3-16

Q4-16

Q1-16

Q2-16

Q3-15

Q1-15

Q3-14

Q4-14

Q1-14

Q2-14

Q4-13

Q2-13

Q3-13

Q1-13

Q4-12

Q2-12

Q3-12

Q1-12

Q4-11

Q2-11

Q3-11

Q1-11

Q4-10

Q2-10

Q3-10

Q1-10

Q4-15

*Seasonally Adjusted

0

Q2-15

Economic Performance

203.5 200

SNAPSHOT COMPONENTS -Q2 2017 compared to Q1 2010-

HOUSING

72.2%

Read More

BUILDING

241.6%

Read More

EMPLOYMENT

13.7%

Read More

SALES TAX

65.3%

Read More

TOT

24.8%

Read More

Performance Compared to One Year Ago 11.8%

28.1%

Published February 2018 I Calen Chapman Consulting / Chabin Consulting

.5%

12.3%

City of Martinez- Economic Development Division Zach Seal, Economic Development Coordinator (925) 372-3563 I [email protected]

17.9%