Market Conditions for 49047

June 2020

Median Sale Price

$176,200

UP UP 45.31% vs. Month Ago

Homes For Sale

48

DOWN DOWN -7.69% vs. Month Ago

Homes Sold

34

UP UP 325.00% vs. Month Ago

Median Sale Price

$176,200

The median sale price for homes in June was $176,200. The median sales price for homes in June rose by $54,950 compared to last month. This represents a 45.31% increase from May. Compared to the same month last year, the median price of homes rose by $43,650 representing a 32.93% 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

48

The inventory of homes for sale fell by 4 in June to 48. This represents 7.69% decrease from May when 52 homes were on the market.Compared to the same month last year when there were 85 homes for sale, the inventory of homes for sale has fallen by fallen by 37 representing a -43.52% 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

34

The 34 homes sold in June was 26 more than in May. This represents a 325% increase in sales from May. Compared to the same month last year, the number of homes sold increased by 16, a 88.88% 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.

Sale/List Price Ratio

93.92%

The Sale/List Price Ratio of 93.92% in June rose by 1.51% compared to May and increased 1.69% 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

29

The number of homes listed in June (29) fell by 6 compared to May, a 17.14% change. Compared to June 2019, the number of new listings increased by 4, a 16% 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

$144,900

The median list price in June was $144,900. The median list price for homes in June fell by ($5,000) compared to last month. This represents a 3.33% decrease from May. Compared to the same month last year, the median list price of homes decreased ($40,100) representing a -21.67% year-over-year decrease.

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.