Market Conditions for 48651

August 2019

Median Sale Price

$111,200

UP UP 12.95% vs. Month Ago

Homes For Sale

78

UP UP 8.33% vs. Month Ago

Homes Sold

18

NO_CHANGE 0.00% vs. Month Ago

Average Days On Market

101

UP UP 80.35% vs. Month Ago

Median Sale Price

$111,200

The median sale price for homes in August was $111,200. The median sales price for homes in August rose by $12,750 compared to last month. This represents a 12.95% increase from July. Compared to the same month last year, the median price of homes fell by ($6,300) representing a -5.36% 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

78

The inventory of homes for sale rose by 6 in August to 78. This represents 8.33% increase from July when 72 homes were on the market.Compared to the same month last year when there were 61 homes for sale, the inventory of homes for sale has fallen by risen by 17 representing a 27.86% 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

18

The 18 homes sold in August was the same as in July. Compared to the same month last year, the number of homes sold increased by 1, a 5.88% 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

101

The average days on market for a home sold in August (101) increased by 45 days compared to July. This represents a 80.35% 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 27, a -21.09% 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.

New Homes

34

The number of homes listed in August (34) rose by 21 compared to July, a 161.53% change. Compared to August 2018, the number of new listings increased by 26, a 325% 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

$144,950

The median list price in August was $144,950. The median list price for homes in August fell by ($4,950) compared to last month. This represents a 3.3% decrease from July. Compared to the same month last year, the median list price of homes increased $2,500 representing a 1.75% 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.