Market Conditions for 49071

May 2018

Median Sale Price

$270,100

UP UP 89.54% vs. Month Ago

Homes For Sale

30

UP UP 36.36% vs. Month Ago

Homes Sold

16

UP UP 128.57% vs. Month Ago

Median Sale Price

$270,100

The median sale price for homes in May was $270,100. The median sales price for homes in May rose by $127,600 compared to last month. This represents a 89.54% increase from April. Compared to the same month last year, the median price of homes rose by $65,100 representing a 31.75% 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

30

The inventory of homes for sale rose by 8 in May to 30. This represents 36.36% increase from April when 22 homes were on the market.Compared to the same month last year when there were 35 homes for sale, the inventory of homes for sale has fallen by fallen by 5 representing a -14.28% 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

16

The 16 homes sold in May was 9 more than in April. This represents a 128.57% increase in sales from April. Compared to the same month last year, the number of homes sold increased by 1, a 6.66% 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

97.75%

The Sale/List Price Ratio of 97.75% in May rose by 3.79% compared to April and decreased 0.75% 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

28

The number of homes listed in May (28) fell by 1 compared to April, a 3.44% change. Compared to May 2017, the number of new listings decreased by 11, a -28.2% 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

$291,687

The median list price in May was $291,687. The median list price for homes in May rose by $51,787 compared to last month. This represents a 21.58% increase from April. Compared to the same month last year, the median list price of homes increased $66,787 representing a 29.69% 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.