Prior 12 months property sales increased from 602 in 2016 to 609 in 2017. April 2016 property sales vs April 2017 property sales increased from 54 to 66 homes sold. Prior 12 months average sales price increased 4.8%, from $508,280 in 2016 to $532,649 in 2017. The April Average Sales Price decreased 2.5%, from $550,657 in April 2016 to $537,117 in April 2017. The April 2016 vs. April 2017 median price decreased 15.9% from $496,000 to $417,000. The April Average Days on Market (DOM) decreased from 121 in April 2016 to 84 in April 2017.
The April 2017 MSI of 5.86 months was at its highest level compared with April 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 April 2017 Selling Price vs. List Price of 95.3% decreased .5% from 95.8% in April of last year.