Market Conditions for 48602

September 2018

Median Sale Price

$55,750

UP UP 22.52% vs. Month Ago

Homes For Sale

97

UP UP 32.87% vs. Month Ago

Homes Sold

26

DOWN DOWN -25.71% vs. Month Ago

Average Days On Market

41

UP UP 10.81% vs. Month Ago

Median Sale Price

$55,750

The median sale price for homes in September was $55,750. The median sales price for homes in September rose by $10,250 compared to last month. This represents a 22.52% increase from August. Compared to the same month last year, the median price of homes rose by $26,250 representing a 88.98% 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

97

The inventory of homes for sale rose by 24 in September to 97. This represents 32.87% increase from August when 73 homes were on the market.Compared to the same month last year when there were 110 homes for sale, the inventory of homes for sale has fallen by fallen by 13 representing a -11.81% 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

26

The 26 homes sold in September was 9 less than in August. This represents a 25.71% decrease in sales from August. Compared to the same month last year, the number of homes sold did not change 0, a 0% year-over-year .

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

41

The average days on market for a home sold in September (41) increased by 4 days compared to August. This represents a 10.81% increase 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 7, a -14.58% 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

86.97%

The Sale/List Price Ratio of 86.97% in September fell by 2.87% compared to August and decreased 1.41% 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

49

The number of homes listed in September (49) rose by 10 compared to August, a 25.64% change. Compared to September 2017, the number of new listings increased by 8, a 19.51% 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

$39,900

The median list price in September was $39,900. The median list price for homes in September fell by ($14,100) compared to last month. This represents a 26.11% decrease from August. Compared to the same month last year, the median list price of homes unchanged $0 representing a 0% year-over-year change.

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.