Market Conditions for 49740

August 2018

Median Sale Price

$325,000

UP UP 18.82% vs. Month Ago

Homes For Sale

206

DOWN DOWN -3.73% vs. Month Ago

Homes Sold

31

UP UP 55.00% vs. Month Ago

Median Sale Price

$325,000

The median sale price for homes in August was $325,000. The median sales price for homes in August rose by $51,500 compared to last month. This represents a 18.82% increase from July. Compared to the same month last year, the median price of homes rose by $97,500 representing a 42.85% 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

206

The inventory of homes for sale fell by 8 in August to 206. This represents 3.73% decrease from July when 214 homes were on the market.Compared to the same month last year when there were 267 homes for sale, the inventory of homes for sale has fallen by fallen by 61 representing a -22.84% 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

31

The 31 homes sold in August was 11 more than in July. This represents a 55% increase in sales from July. Compared to the same month last year, the number of homes sold increased by 6, a 24% 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

89.45%

The Sale/List Price Ratio of 89.45% in August rose by % compared to July and increased 2.44% 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

30

The number of homes listed in August (30) fell by 6 compared to July, a 16.66% change. Compared to August 2017, the number of new listings decreased by 2, a -6.25% 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

$357,500

The median list price in August was $357,500. The median list price for homes in August rose by $57,800 compared to last month. This represents a 19.28% increase from July. Compared to the same month last year, the median list price of homes increased $78,000 representing a 27.9% 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.