Market Conditions for 53588 January 2018
Median Sale: $274,950
 (24.49%)
Homes for Sale: 17
 (0.00%)
Homes Sold: 2
 (100.00%)
Avg Days on Market: 106
 (1225.00%)
Median Sale Price
$274,950

 UP 24.49%
vs. Month Ago
Homes for Sale
17

  0.00%
vs. Month Ago
Homes Sold
2

 UP 100.00%
vs. Month Ago
Avg Days on Market
106

 UP 1225.00%
vs. Month Ago
Close [-]

Median Sale Price

The median sale price for homes in January was $274,950. The median sales price for homes in January rose by $54,100 compared to last month. This represents a 24.49% increase from December. Compared to the same month last year, the median price of homes rose by $115,700 representing a 72.65% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.
Median Sale Price
$274,950
Homes for Sale
17
Homes for Sale

The inventory of homes for sale remained level in January to 17. Compared to the same month last year when there were 13 homes for sale, the inventory of homes for sale has risen by 4 representing a 30.76% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.
Homes Sold

The 2 homes sold in January was 1 more than in December. This represents a 100% increase in sales from December. Compared to the same month last year, the number of homes sold decreased by 2, a -50% year-over-year decrease.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.
Homes Sold
2
Avg Days on Market
106
Avg Days on Market

The average days on market for a home sold in January (106) increased by 98 days compared to December. This represents a 1,225% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold increased by 16, a 17.77% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.
Sale/List Price Ratio

The Sale/List Price Ratio of 96.36% in January fell by 4.05% compared to December and decreased 1.81% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.
List/Sale Price Ratio
96.36%
New Homes
3
New Homes

The number of homes listed in January (3) fell by 2 compared to December, a 40% change. Compared to January 2017, the number of new listings increased by 1, a 50% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.
Median List Price

The median list price in January was $162,500. The median list price for homes in January fell by ($107,400) compared to last month. This represents a 39.79% decrease from December. Compared to the same month last year, the median list price of homes decreased ($60,950) representing a -27.27% year-over-year decrease.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.
Median List Price
$162,500