Market Conditions for 48422

August 2019

Median Sale Price

$134,950

UP UP 15.58% vs. Month Ago

Homes For Sale

10

DOWN DOWN -33.33% vs. Month Ago

Homes Sold

6

UP UP 200.00% vs. Month Ago

Average Days On Market

50

UP UP 1150.00% vs. Month Ago

Median Sale Price

$134,950

The median sale price for homes in August was $134,950. The median sales price for homes in August rose by $18,200 compared to last month. This represents a 15.58% increase from July. Compared to the same month last year, the median price of homes fell by ($34,950) representing a -20.57% 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

10

The inventory of homes for sale fell by 5 in August to 10. This represents 33.33% decrease from July when 15 homes were on the market.Compared to the same month last year when there were 19 homes for sale, the inventory of homes for sale has fallen by fallen by 9 representing a -47.36% 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

6

The 6 homes sold in August was 4 more than in July. This represents a 200% increase in sales from July. Compared to the same month last year, the number of homes sold increased by 3, a 100% 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.

Average Days on Market

50

The average days on market for a home sold in August (50) increased by 46 days compared to July. This represents a 1,150% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold increased by 23, a 85.18% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

98.09%

The Sale/List Price Ratio of 98.09% in August fell by 4.11% compared to July and decreased 1.89% 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

5

The number of homes listed in August (5) fell by 1 compared to July, a 16.66% change. Compared to August 2018, the number of new listings decreased by 6, a -54.54% 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

$149,000

The median list price in August was $149,000. The median list price for homes in August rose by $24,550 compared to last month. This represents a 19.72% increase from July. Compared to the same month last year, the median list price of homes increased $12,001 representing a 8.75% 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.