Market Conditions for 48045

April 2018

Median Sale Price

$167,000

DOWN DOWN -15.22% vs. Month Ago

Homes For Sale

47

UP UP 9.30% vs. Month Ago

Homes Sold

30

UP UP 100.00% vs. Month Ago

Average Days On Market

34

DOWN DOWN -15.00% vs. Month Ago

Median Sale Price

$167,000

The median sale price for homes in April was $167,000. The median sales price for homes in April fell by ($30,000) compared to last month. This represents a 15.22% decrease from March. Compared to the same month last year, the median price of homes rose by $25,550 representing a 18.06% 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

47

The inventory of homes for sale rose by 4 in April to 47. This represents 9.3% increase from March when 43 homes were on the market.Compared to the same month last year when there were 60 homes for sale, the inventory of homes for sale has fallen by fallen by 13 representing a -21.66% 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

30

The 30 homes sold in April was 15 more than in March. This represents a 100% increase in sales from March. Compared to the same month last year, the number of homes sold increased by 8, a 36.36% 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

34

The average days on market for a home sold in April (34) decreased by 6 days compared to March. This represents a 15% 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 12, a -26.08% 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

95.74%

The Sale/List Price Ratio of 95.74% in April fell by 0.12% compared to March and decreased 5.08% 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

52

The number of homes listed in April (52) rose by 21 compared to March, a 67.74% change. Compared to April 2017, the number of new listings increased by 12, a 30% 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

$182,195

The median list price in April was $182,195. The median list price for homes in April fell by ($27,705) compared to last month. This represents a 13.19% decrease from March. Compared to the same month last year, the median list price of homes increased $21,995 representing a 13.72% 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.