Market Conditions for 48843

February 2019

Median Sale Price

$245,000

DOWN DOWN -3.92% vs. Month Ago

Homes For Sale

135

DOWN DOWN -1.45% vs. Month Ago

Homes Sold

37

DOWN DOWN -24.48% vs. Month Ago

Average Days On Market

45

NO_CHANGE 0.00% vs. Month Ago

Median Sale Price

$245,000

The median sale price for homes in February was $245,000. The median sales price for homes in February fell by ($10,000) compared to last month. This represents a 3.92% decrease from January. Compared to the same month last year, the median price of homes rose by $25,000 representing a 11.36% 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

135

The inventory of homes for sale fell by 2 in February to 135. This represents 1.45% decrease from January when 137 homes were on the market.Compared to the same month last year when there were 114 homes for sale, the inventory of homes for sale has fallen by risen by 21 representing a 18.42% 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

37

The 37 homes sold in February was 12 less than in January. This represents a 24.48% decrease in sales from January. Compared to the same month last year, the number of homes sold increased by 2, a 5.71% 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

45

The average days on market for a home sold in February (45) did not change Compared to the same month last year, the days on market for homes sold decreased by 9, a -16.66% 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

96.19%

The Sale/List Price Ratio of 96.19% in February rose by 0.34% compared to January and increased 1.5% 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

64

The number of homes listed in February (64) fell by 25 compared to January, a 28.08% change. Compared to February 2018, the number of new listings decreased by 18, a -21.95% 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

$275,000

The median list price in February was $275,000. The median list price for homes in February rose by $15,100 compared to last month. This represents a 5.8% increase from January. Compared to the same month last year, the median list price of homes increased $5,100 representing a 1.88% 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.