Market Conditions for 49770

October 2018

Median Sale Price

$236,950

DOWN DOWN -11.42% vs. Month Ago

Homes For Sale

179

UP UP 21.76% vs. Month Ago

Homes Sold

34

UP UP 30.76% vs. Month Ago

Average Days On Market

92

UP UP % vs. Month Ago

Median Sale Price

$236,950

The median sale price for homes in October was $236,950. The median sales price for homes in October fell by ($30,550) compared to last month. This represents a 11.42% decrease from September. Compared to the same month last year, the median price of homes rose by $27,950 representing a 13.37% 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

179

The inventory of homes for sale rose by 32 in October to 179. This represents 21.76% increase from September when 147 homes were on the market.Compared to the same month last year when there were 183 homes for sale, the inventory of homes for sale has fallen by fallen by 4 representing a -2.18% 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

34

The 34 homes sold in October was 8 more than in September. This represents a 30.76% increase in sales from September. Compared to the same month last year, the number of homes sold increased by 9, a 36% 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

92

The average days on market for a home sold in October (92) increased by 92 days compared to September. This represents a % 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 92, a % 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

0%

The Sale/List Price Ratio of 0% in October fell by % compared to September and decreased % 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

42

The number of homes listed in October (42) rose by 27 compared to September, a 180% change. Compared to October 2017, the number of new listings increased by 17, a 68% 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

$249,450

The median list price in October was $249,450. The median list price for homes in October fell by ($10,550) compared to last month. This represents a 4.05% decrease from September. Compared to the same month last year, the median list price of homes decreased ($20,450) representing a -7.57% 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.