Market Conditions for 48104 September 2017
Median Sale: $320,000
 (-3.83%)
Homes for Sale: 56
 (-6.66%)
Homes Sold: 37
 (-19.56%)
Avg Days on Market: 29
 (0.00%)
Median Sale Price
$320,000

 DOWN -3.83%
vs. Month Ago
Homes for Sale
56

 DOWN -6.66%
vs. Month Ago
Homes Sold
37

 DOWN -19.56%
vs. Month Ago
Avg Days on Market
29

  0.00%
vs. Month Ago
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Median Sale Price

The median sale price for homes in September was $320,000. The median sales price for homes in September fell by ($12,750) compared to last month. This represents a 3.83% decrease from August. Compared to the same month last year, the median price of homes rose by $101,500 representing a 46.45% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Median Sale Price
$320,000
 
Homes for Sale
56
Homes for Sale

The inventory of homes for sale fell by 4 in September to 56. This represents 6.66% decrease from August when 60 homes were on the market. Compared to the same month last year when there were 68 homes for sale, the inventory of homes for sale has fallen by 12 representing a -17.64% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

 
Homes Sold

The 37 homes sold in September was 9 less than in August. This represents a 19.56% decrease in sales from August. Compared to the same month last year, the number of homes sold increased by 11, a 42.3% year-over-year increase.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Homes Sold
37
 
Avg Days on Market
29
Avg Days on Market

The average days on market for a home sold in September (29) did not change Compared to the same month last year, the days on market for homes sold decreased by 2, a -6.45% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

 
Sale/List Price Ratio

The Sale/List Price Ratio of 93.01% in September fell by 5.44% compared to August and decreased 4.87% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

List/Sale Price Ratio
93.01%
 
New Homes
31
New Homes

The number of homes listed in September (31) fell by 9 compared to August, a 22.5% change. Compared to September 2016, the number of new listings decreased by 5, a -13.88% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

 
Median List Price

The median list price in September was $399,000. The median list price for homes in September fell by ($45,450) compared to last month. This represents a 10.22% decrease from August. Compared to the same month last year, the median list price of homes increased $66,550 representing a 20.01% year-over-year increase.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.

Median List Price
$399,000

IMPORTANT! PLEASE READ CAREFULLY
THE ACCURACY OF ALL INFORMATION, REGARDLESS OF SOURCE, IS NOT GUARANTEED OR WARRANTED. ALL INFORMATION SHOULD BE INDEPENDENTLY VERIFIED. Sold listing data is not available from all Multiple Listing Services.

Provided by Real Estate One, Johnstone & Johnstone, and Max Broock Realtors. Copyright 2017