Prior 12 months property sales decreased from 608 in 2015 to 587 in 2016. June 2015 property sales vs June 2016 property sales increased from 80 to 62 homes sold. Prior 12 months average sales price increased 4.7%, from $490,605 in 2015 to $513,481 in 2016. The June Average Sales Price increased 8.8%, from $490,566 in June 2015 to $533,517 in June 2016. The June 2015 vs. June2016 median price decreased 5% from $422,450 to $443,585. The June Average Days on Market (DOM) increased from 64 in June2015 to 87 in June 2016.
The June 2016 MSI of 4.75 months was at its highest level compared with June 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 June2016 Selling Price vs. List Price of 95.8% decreased .8% from 96.6% in June of last year.