Prior 12 months property sales increased from 597 in 2015 to 602 in 2016. April 2015 property sales vs April 2016 property sales decreased from 59 to 54 homes sold. Prior 12 months average sales price increased 5.7%, from $480,729 in 2015 to $508,280 in 2016. The April Average Sales Price increased 25.6%, from $438,350 in April 2015 to $550,657 in April 2016. The April 2015 vs. April2016 median price increased 32.3% from $375,000 to $496,000. The April Average Days on Market (DOM) increased from 109 in April2015 to 121 in April 2016.
The April 2016 MSI of 7.48 months was at its highest level compared with April 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 April2016 Selling Price vs. List Price of 95.8% decreased .6% from 96.4% in April of last year.