Market Conditions for White Lake

June 2018

Median Sale Price

$280,000

UP UP 12.00% vs. Month Ago

Homes For Sale

131

UP UP 1.55% vs. Month Ago

Homes Sold

47

UP UP 46.87% vs. Month Ago

Average Days On Market

26

DOWN DOWN -35.00% vs. Month Ago

Median Sale Price

$280,000

The median sale price for homes in June was $280,000. The median sales price for homes in June rose by $30,000 compared to last month. This represents a 12% increase from May. Compared to the same month last year, the median price of homes rose by $15,100 representing a 5.7% 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.

Homes for Sale

131

The inventory of homes for sale rose by 2 in June to 131. This represents 1.55% increase from May when 129 homes were on the market.Compared to the same month last year when there were 153 homes for sale, the inventory of homes for sale has fallen by fallen by 22 representing a -14.37% 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

47

The 47 homes sold in June was 15 more than in May. This represents a 46.87% increase in sales from May. Compared to the same month last year, the number of homes sold increased by 10, a 27.02% 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.

Average Days on Market

26

The average days on market for a home sold in June (26) decreased by 14 days compared to May. This represents a 35% 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 16, a -38.09% 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

97.62%

The Sale/List Price Ratio of 97.62% in June rose by 2.57% compared to May and decreased 0.33% 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.

New Homes

84

The number of homes listed in June (84) fell by 11 compared to May, a 11.57% change. Compared to June 2017, the number of new listings decreased by 30, a -26.31% 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

$294,450

The median list price in June was $294,450. The median list price for homes in June fell by ($40,450) compared to last month. This represents a 12.07% decrease from May. Compared to the same month last year, the median list price of homes decreased ($450) representing a -0.15% year-over-year decrease.

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.