Prior 12 months property sales decreased from 613 in 2015 to 592 in 2016. September 2015 property sales vs September 2016 property sales increased from 50 to 52 homes sold. Prior 12 months average sales price increased 6.6%, from $495,886 in 2015 to $528,452 in 2016. The September Average Sales Price increased 5.3%, from $532,609 in September 2015 to $560,837 in September 2016. The September2015 vs. September 2016 median price increased 1.1% from $432,500 to $437,200. The September Average Days on Market (DOM) decreased from 90 in September 2015 to 88 in September 2016.
The September 2016 MSI of 4.48 months was at its lowest level compared with September of 2015. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%, the more of a Buyer's market exists; a ratio at or above 100% indicates more of a Seller's market. The September 2016 Selling Price vs. List Price of 93.8% decreased .1% from 93.9% in September of last year.