Market Conditions for 49417

August 2018

Median Sale Price

$230,000

DOWN DOWN -1.91% vs. Month Ago

Homes For Sale

99

UP UP 2.06% vs. Month Ago

Homes Sold

55

UP UP 30.95% vs. Month Ago

Median Sale Price

$230,000

The median sale price for homes in August was $230,000. The median sales price for homes in August fell by ($4,500) compared to last month. This represents a 1.91% decrease from July. Compared to the same month last year, the median price of homes rose by $18,000 representing a 8.49% 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

99

The inventory of homes for sale rose by 2 in August to 99. This represents 2.06% increase from July when 97 homes were on the market.Compared to the same month last year when there were 116 homes for sale, the inventory of homes for sale has fallen by fallen by 17 representing a -14.65% 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

55

The 55 homes sold in August was 13 more than in July. This represents a 30.95% increase in sales from July. Compared to the same month last year, the number of homes sold increased by 10, a 22.22% 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

96.93%

The Sale/List Price Ratio of 96.93% in August fell by 1.23% compared to July and increased 0.81% 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

59

The number of homes listed in August (59) fell by 11 compared to July, a 15.71% change. Compared to August 2017, the number of new listings decreased by 12, a -16.9% 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

$259,900

The median list price in August was $259,900. The median list price for homes in August rose by $4,950 compared to last month. This represents a 1.94% increase from July. Compared to the same month last year, the median list price of homes increased $30,000 representing a 13.04% 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.