Market Conditions for White Lake

March 2018

Median Sale Price

$227,000

DOWN DOWN -14.33% vs. Month Ago

Homes For Sale

104

DOWN DOWN -4.58% vs. Month Ago

Homes Sold

39

UP UP 34.48% vs. Month Ago

Average Days On Market

52

NO_CHANGE 0.00% vs. Month Ago

Median Sale Price

$227,000

The median sale price for homes in March was $227,000. The median sales price for homes in March fell by ($38,000) compared to last month. This represents a 14.33% decrease from January. Compared to the same month last year, the median price of homes fell by ($33,000) representing a -12.69% 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

104

The inventory of homes for sale fell by 5 in March to 104. This represents 4.58% decrease from January when 109 homes were on the market.Compared to the same month last year when there were 106 homes for sale, the inventory of homes for sale has fallen by fallen by 2 representing a -1.88% 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

39

The 39 homes sold in March was 10 more than in January. This represents a 34.48% increase in sales from January. Compared to the same month last year, the number of homes sold increased by 6, a 18.18% 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

52

The average days on market for a home sold in March (52) did not change Compared to the same month last year, the days on market for homes sold increased by 8, a 18.18% 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

91.7%

The Sale/List Price Ratio of 91.7% in March fell by 3.74% compared to January and decreased 5.13% 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

43

The number of homes listed in March (43) rose by 5 compared to January, a 13.15% change. Compared to March 2017, the number of new listings decreased by 13, a -23.21% 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

$299,900

The median list price in March was $299,900. The median list price for homes in March rose by $75,000 compared to last month. This represents a 33.34% increase from January. Compared to the same month last year, the median list price of homes increased $25,000 representing a 9.09% 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.