Market Conditions for 49127

November 2017

Median Sale Price

$258,500

UP UP 52.05% vs. Month Ago

Homes For Sale

73

DOWN DOWN -5.19% vs. Month Ago

Homes Sold

13

UP UP 44.44% vs. Month Ago

Median Sale Price

$258,500

The median sale price for homes in November was $258,500. The median sales price for homes in November rose by $88,500 compared to last month. This represents a 52.05% increase from October. Compared to the same month last year, the median price of homes rose by $81,000 representing a 45.63% 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

73

The inventory of homes for sale fell by 4 in November to 73. This represents 5.19% decrease from October when 77 homes were on the market.Compared to the same month last year when there were 66 homes for sale, the inventory of homes for sale has fallen by risen by 7 representing a 10.6% 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

13

The 13 homes sold in November was 4 more than in October. This represents a 44.44% increase in sales from October. Compared to the same month last year, the number of homes sold decreased by 1, a -7.14% year-over-year decrease.

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

93.84%

The Sale/List Price Ratio of 93.84% in November rose by 2.94% compared to October and decreased 3.44% 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

10

The number of homes listed in November (10) fell by 11 compared to October, a 52.38% change. Compared to November 2016, the number of new listings decreased by 2, a -16.66% 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

$194,900

The median list price in November was $194,900. The median list price for homes in November fell by ($55,000) compared to last month. This represents a 22% decrease from October. Compared to the same month last year, the median list price of homes decreased ($95,000) representing a -32.76% 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.