The median sale price for homes in October was $595,000. The median sales price for homes in October rose by $65,000 compared to last month. This represents a 12.26% increase from September. Compared to the same month last year, the median price of homes rose by $275,000 representing a 85.93% year-over-year change.
The inventory of homes for sale fell by 2 in October to 32. This represents 5.88% decrease from September when 34 homes were on the market. Compared to the same month last year when there were 37 homes for sale, the inventory of homes for sale has fallen by 5 representing a -13.51% 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.
The 5 homes sold in October was the same as in September. Compared to the same month last year, the number of homes sold increased by 2, a 66.66% 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.
The average days on market for a home sold in October (98) decreased by 16 days compared to September. This represents a 14.03% 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 decreased by 76, a -43.67% 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.
The Sale/List Price Ratio of 93.23% in October fell by 1.36% compared to September and increased 2% 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.
The number of homes listed in October (7) fell by 2 compared to September, a 22.22% change. Compared to October 2018, the number of new listings increased by 4, a 133.33% 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.
The median list price in October was $299,900. The median list price for homes in October fell by ($275,100) compared to last month. This represents a 47.84% decrease from September. Compared to the same month last year, the median list price of homes increased $130,900 representing a 77.45% year-over-year increase.