Property Sales
September Property sales were 8, down -11.1% from 9 in September of 2010 and -33.3% lower than the 12 sales last month. September 2011 sales were at a mid level compared to September of 2010 and 2009. September YTD sales of 67 are running -23.0% behind last year's year-to-date sales of 87.
Prices
The Median Sales Price in September was $388,000, up 52.2% from $254,900 in September of 2010 and up 10.9% from $350,000 last month. The Average Sales Price in September was $388,156, up 59.9% from $242,767 in September of 2010 and up 6.5% from $364,625 last month. September 2011 ASP was at highest level compared to September of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of September was 115, up 2.7% from 112 last month and up 12.7% from 102 in September of last year. September 2011 Inventory was at highest level compared to September of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2011 MSI of 14.4 months was at a mid range compared with September of 2010 and 2009
Market Time
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for September was 101, up 80.4% from 56 days last month and up 260.7% from 28 days in September of last year. The September 2011 DOM was at its highest level compared with September of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The September 2011 Selling Price per Square Foot of $148 was down -0.7% from $149 last month and equal to $148 in September of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the 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 at or above 100% indicates more of a Seller's market. The September 2011 Selling Price vs Original List Price of 95.9% was down from 97.4% last month and up from 94.0% in September of last year
Inventory / New Listings / Sales
'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in September 2011 was 21, up 61.5% from 13 last month and down -12.5% from 24 in September of last year.
If you, or someone you know are looking to buy, or sell a home, please call Tatyana (860) 648-9270. She'll get you results!
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