Market Conditions for 48170

May 2019

Median Sale Price

$316,500

UP UP 12.63% vs. Month Ago

Homes For Sale

134

UP UP 14.52% vs. Month Ago

Homes Sold

60

UP UP 33.33% vs. Month Ago

Average Days On Market

25

NO_CHANGE 0.00% vs. Month Ago

Median Sale Price

$316,500

The median sale price for homes in May was $316,500. The median sales price for homes in May rose by $35,500 compared to last month. This represents a 12.63% increase from April. Compared to the same month last year, the median price of homes rose by $21,250 representing a 7.19% 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

134

The inventory of homes for sale rose by 17 in May to 134. This represents 14.52% increase from April when 117 homes were on the market.Compared to the same month last year when there were 103 homes for sale, the inventory of homes for sale has fallen by risen by 31 representing a 30.09% 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

60

The 60 homes sold in May was 15 more than in April. This represents a 33.33% increase in sales from April. Compared to the same month last year, the number of homes sold increased by 4, a 7.14% 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

25

The average days on market for a home sold in May (25) did not change Compared to the same month last year, the days on market for homes sold decreased by 9, a -26.47% 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

97.26%

The Sale/List Price Ratio of 97.26% in May rose by 0.51% compared to April and decreased 0.02% 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

108

The number of homes listed in May (108) rose by 1 compared to April, a 0.93% change. Compared to May 2018, the number of new listings increased by 4, a 3.84% 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

$395,000

The median list price in May was $395,000. The median list price for homes in May rose by $35,000 compared to last month. This represents a 9.72% increase from April. Compared to the same month last year, the median list price of homes increased $25,550 representing a 6.91% 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.