Inventory is up and Market Action Index is trending down recently. While the days-on-market appears to be trending lower, the overall conditions are weakening a bit. The market has been consistently cool for several weeks now. Demand level is low relative to the available inventory. It continues to be a Buyer’s market and prices seem to plateauing at current levels even though they have notched own slightly compared to recent weeks. Look for a consistent increase in the Market Action Index before we begin to see prices rise again.
Real-Time Market Profile for the Week of June 25, 2012
Median List Price - $3,390,000
Asking Price per Square Foot - $546
Average Days on Market (DOM) - 234
Percent Properties with Price Decrease - 29%
Percent Re-listed (reset DOM) - n/a
Percent Flip (price increased) - 1%
Median House Size (sq. ft.) - 6531
Median Lot Size - 10 - 20 acres
Median Number of Bedrooms - 5.0
Median Number of Bathrooms - 5.5
Market Action Index - 12.9 (Strong Buyers)
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