Prior 12 months property sales decreased from 613 in 2016 to 580 in 2017. January 2016 property sales vs January 2017 property sales decreased from 29 to 24 homes sold. Prior 12 months average sales price increased 7.9%, from $499,426 in 2016 to $538,713 in 2017. The January Average Sales Price increased 6.5%, from $454,162 in January 2016 to $483,570 in January 2017. The January 2016 vs. January 2017 median price increased 27.3% from $330,000 to $420,000. The January Average Days on Market (DOM) increased from 129 in January 2016 to 150 in January 2017.
The January 2017 MSI of 5.98 months was at its highest level compared with January of 2016. 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 January 2017 Selling Price vs. List Price of 93.5% increased .4% from 93.1% in January of last year.