Property Sales
February Property sales were 3,370, up 4.6% from 3,222 in February of 2015 and 1.3% higher than the 3,327 sales last month. February 2016 sales were at their highest level compared to February of 2015 and 2014. February YTD sales of 6,697 are running 5.9% ahead of last year's year-to-date sales of 6,325.
Prices
The Median Sales Price in February was $192,450, up 10.6% from $174,000 in February of 2015 and up 1.3% from $190,000 last month. The Average Sales Price in February was $265,518, up 2.8% from $258,354 in February of 2015 and down -4.0% from $276,529 last month. February 2016 ASP was at highest level compared to February of 2015 and 2014.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 16,992, down -1.1% from 17,173 last month and down -16.7% from 20,404 in February of last year. February 2016 Inventory was at the lowest level compared to February of 2015 and 2014.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2016 MSI of 5.0 months was at its lowest level compared with February of 2015 and 2014
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 February was 66, up 1.5% from 65 days last month and down -7.0% from 71 days in February of last year. The February 2016 DOM was at its lowest level compared with February of 2015 and 2014.
Data: MRED LLC
Comments(0)