Market Conditions for 49117

July 2018

Median Sale Price

$384,000

DOWN DOWN -11.72% vs. Month Ago

Homes For Sale

111

UP UP 20.65% vs. Month Ago

Homes Sold

14

UP UP 7.69% vs. Month Ago

Median Sale Price

$384,000

The median sale price for homes in July was $384,000. The median sales price for homes in July fell by ($51,000) compared to last month. This represents a 11.72% decrease from June. Compared to the same month last year, the median price of homes fell by ($11,000) representing a -2.78% 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

111

The inventory of homes for sale rose by 19 in July to 111. This represents 20.65% increase from June when 92 homes were on the market.Compared to the same month last year when there were 147 homes for sale, the inventory of homes for sale has fallen by fallen by 36 representing a -24.48% 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

14

The 14 homes sold in July was 1 more than in June. This represents a 7.69% increase in sales from June. Compared to the same month last year, the number of homes sold increased by 3, a 27.27% 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

92.02%

The Sale/List Price Ratio of 92.02% in July fell by 1.74% compared to June and decreased 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

33

The number of homes listed in July (33) rose by 9 compared to June, a 37.5% change. Compared to July 2017, the number of new listings increased by 13, a 65% 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

$389,900

The median list price in July was $389,900. The median list price for homes in July rose by $40,200 compared to last month. This represents a 11.49% increase from June. Compared to the same month last year, the median list price of homes increased $17,450 representing a 4.68% 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.