Market Conditions for 53508 August 2017
Median Sale: $225,000
 (-21.05%)
Homes for Sale: 27
 (3.84%)
Homes Sold: 17
 (88.88%)
Avg Days on Market: 16
 (-72.88%)
Median Sale Price
$225,000

 DOWN -21.05%
vs. Month Ago
Homes for Sale
27

 UP 3.84%
vs. Month Ago
Homes Sold
17

 UP 88.88%
vs. Month Ago
Avg Days on Market
16

 DOWN -72.88%
vs. Month Ago
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Median Sale Price

The median sale price for homes in August was $225,000. The median sales price for homes in August fell by ($60,000) compared to last month. This represents a 21.05% decrease from July. Compared to the same month last year, the median price of homes fell by ($15,000) representing a -6.25% 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
$225,000
Homes for Sale
27
Homes for Sale

The inventory of homes for sale rose by 1 in August to 27. This represents 3.84% increase from July when 26 homes were on the market. Compared to the same month last year when there were 19 homes for sale, the inventory of homes for sale has risen by 8 representing a 42.1% 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 17 homes sold in August was 8 more than in July. This represents a 88.88% increase in sales from July. Compared to the same month last year, the number of homes sold increased by 8, a 88.88% year-over-year increase.

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
17
Avg Days on Market
16
Avg Days on Market

The average days on market for a home sold in August (16) decreased by 43 days compared to July. This represents a 72.88% decrease 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 did not change 0, a 0% 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 97.78% in August rose by 1.24% compared to July and increased 7.6% 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
97.78%
New Homes
12
New Homes

The number of homes listed in August (12) fell by 2 compared to July, a 14.28% change. Compared to August 2016, the number of new listings increased by 2, a 20% 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 August was $216,950. The median list price for homes in August fell by ($12,950) compared to last month. This represents a 5.63% decrease from July. Compared to the same month last year, the median list price of homes increased $11,750 representing a 5.72% year-over-year increase.

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
$216,950