Market Conditions for 49461

September 2018

Median Sale Price

$222,100

UP UP 4.51% vs. Month Ago

Homes For Sale

41

NO_CHANGE 0.00% vs. Month Ago

Homes Sold

8

DOWN DOWN -57.89% vs. Month Ago

Median Sale Price

$222,100

The median sale price for homes in September was $222,100. The median sales price for homes in September rose by $9,600 compared to last month. This represents a 4.51% increase from August. Compared to the same month last year, the median price of homes rose by $32,100 representing a 16.89% 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

41

The inventory of homes for sale remained level in September to 41. Compared to the same month last year when there were 40 homes for sale, the inventory of homes for sale has fallen by risen by 1 representing a 2.5% 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

8

The 8 homes sold in September was 11 less than in August. This represents a 57.89% decrease in sales from August. Compared to the same month last year, the number of homes sold decreased by 10, a -55.55% 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

96.34%

The Sale/List Price Ratio of 96.34% in September rose by 2.42% compared to August and increased 3.35% 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

17

The number of homes listed in September (17) fell by 7 compared to August, a 29.16% change. Compared to September 2017, the number of new listings increased by 7, a 70% 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

$230,000

The median list price in September was $230,000. The median list price for homes in September rose by $8,050 compared to last month. This represents a 3.62% increase from August. Compared to the same month last year, the median list price of homes increased $55,600 representing a 31.88% 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.