Market Conditions for 49015

May 2018

Median Sale Price

$144,000

DOWN DOWN -7.09% vs. Month Ago

Homes For Sale

81

UP UP 58.82% vs. Month Ago

Homes Sold

49

UP UP 81.48% vs. Month Ago

Median Sale Price

$144,000

The median sale price for homes in May was $144,000. The median sales price for homes in May fell by ($11,000) compared to last month. This represents a 7.09% decrease from April. Compared to the same month last year, the median price of homes fell by ($8,250) representing a -5.41% 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

81

The inventory of homes for sale rose by 30 in May to 81. This represents 58.82% increase from April when 51 homes were on the market.Compared to the same month last year when there were 102 homes for sale, the inventory of homes for sale has fallen by fallen by 21 representing a -20.58% 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

49

The 49 homes sold in May was 22 more than in April. This represents a 81.48% increase in sales from April. Compared to the same month last year, the number of homes sold increased by 7, a 16.66% 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.

Sale/List Price Ratio

98.65%

The Sale/List Price Ratio of 98.65% in May rose by 4.23% compared to April and increased 3.2% 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

76

The number of homes listed in May (76) rose by 28 compared to April, a 58.33% change. Compared to May 2017, the number of new listings increased by 2, a 2.7% 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

$157,400

The median list price in May was $157,400. The median list price for homes in May rose by $5,200 compared to last month. This represents a 3.41% increase from April. Compared to the same month last year, the median list price of homes increased $8,400 representing a 5.63% 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.