Market Conditions for 49201
Median Sale Price
The median sale price for homes in November was $241,500. The median sales price for homes in November fell by ($8,400) compared to last month. This represents a 3.36% decrease from October. Compared to the same month last year, the median price of homes rose by $241,500
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.
Homes for Sale
The inventory of homes for sale rose by 95 in November to 105. This represents 950% increase from October when 10 homes were on the market. Compared to the same month last year when there were 0 homes for sale, the inventory of homes for sale has risen by 105
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 50 homes sold in November was 1 less than in October. This represents a 1.96% decrease in sales from October. Compared to the same month last year, the number of homes sold increased by 50,
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.
Avg Days on Market
The average days on market for a home sold in November (19) decreased by 14 days compared to October. This represents a 42.42% decrease in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold increased by 19,
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 95.99% in November rose by 1.9% compared to October
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.
New Homes
The number of homes listed in November (53) fell by 12 compared to October, a 18.46% change. Compared to November 2023, the number of new listings increased by 53, a 0% 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 November was $299,900. The median list price for homes in November rose by $43,900 compared to last month. This represents a 17.14% increase from October. Compared to the same month last year, the median list price of homes increased $299,900
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.