Market Conditions for 49091 March 2018
Median Sale: $113,000
 (41.60%)
Homes for Sale: 42
 (-12.50%)
Homes Sold: 9
 (-18.18%)
Median Sale Price
$113,000

 UP 41.60%
vs. Month Ago
Homes for Sale
42

 DOWN -12.50%
vs. Month Ago
Homes Sold
9

 DOWN -18.18%
vs. Month Ago
Close [-]

Median Sale Price

The median sale price for homes in March was $113,000. The median sales price for homes in March rose by $33,200 compared to last month. This represents a 41.6% increase from January. Compared to the same month last year, the median price of homes rose by $27,565 representing a 32.26% 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
$113,000
 
Homes for Sale
42
Homes for Sale

The inventory of homes for sale fell by 6 in March to 42. This represents 12.5% decrease from January when 48 homes were on the market. Compared to the same month last year when there were 65 homes for sale, the inventory of homes for sale has fallen by 23 representing a -35.38% 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 9 homes sold in March was 2 less than in January. This represents a 18.18% decrease in sales from January. Compared to the same month last year, the number of homes sold decreased by 9, a -50% year-over-year decrease.

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
9
 
Sale/List Price Ratio

The Sale/List Price Ratio of 92.21% in March fell by 2.94% compared to January and decreased 4.79% 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
92.21%
 
New Homes
25
New Homes

The number of homes listed in March (25) rose by 12 compared to January, a 92.3% change. Compared to March 2017, the number of new listings increased by 7, a 38.88% 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 March was $209,500. The median list price for homes in March rose by $114,600 compared to last month. This represents a 120.75% increase from January. Compared to the same month last year, the median list price of homes increased $10,500 representing a 5.27% 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
$209,500

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 2018