Property Sales
September Property sales were 30, up 15.4% from 26 in September of 2010 and -3.2% lower than the 31 sales last month. September 2011 sales were at a mid level compared to September of 2010 and 2009. September YTD sales of 215 are running -9.7% behind last year's year-to-date sales of 238.
Prices
The Median Sales Price in September was $382,450, up 18.7% from $322,250 in September of 2010 and up 3.4% from $370,000 last month. The Average Sales Price in September was $421,806, up 3.3% from $408,323 in September of 2010 and up 3.2% from $408,529 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 220, up 2.3% from 215 last month and up 18.9% from 185 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 7.3 months was at its highest level 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 72, up 67.4% from 43 days last month and down -8.9% from 79 days in September of last year. The September 2011 DOM was at a mid range 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 $172 was up 8.9% from $158 last month and up 11.7% from $154 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 97.9% was up from 97.3% last month and up from 96.3% 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 97.9% was up from 97.3% last month and up from 96.3% in September of last year
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