Property Sales
January Property sales were 308, up 15.8% from 266 in January of 2009 and -42.6% lower than the 537 sales last month. January 2010 sales were at a mid level compared to January of 2009 and 2008. January YTD sales of 308 are running 15.8% ahead of last year's year-to-date sales of 266.
Prices
The Median Sales Price in January was $350,000, down -1.5% from $355,156 in January of 2009 and down -9.1% from $385,000 last month. The Average Sales Price in January was $467,660, down - 450 3.8% from $486,252 in January of 2009 and down - 7.3% from $504,219 last month. January 2010 ASP was at the lowest level compared to January of 2009 and 2008.
Inventory & MSI
The Total Inventory of Properties available for sale as of January was 2,244, down -7.4% from 2,424 last month and down -30.2% from 3,215 in January of last year. January 2010 Inventory was at its lowest level compared with January of 2009 and 2008.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2010 MSI of 7.3 months was at its lowest level compared with January of 2009 and 2008.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the 97% average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio 93% at or above 100% indicates more of a Seller's market. The January 2010 Selling Price vs Original List Price of 94.1% was up from 93.2% last month and up from 90.1% in January of last year.
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