FREE Market Action report for S Windsor. March 2012-2013.
February Property sales were 9, up 12.5% from 8 in February of 2012 and -40.0% lower than the 15 sales last month. February 2013 sales were at their highest level compared to February of 2012 and 2011. February YTD sales of 24 are running 84.6% ahead of last year's year-to-date sales of 13.
The Median Sales Price in February was $245,000, up 14.0% from $214,950 in February of 2012 and up 1.9% from $240,500 last month. The Average Sales Price in February was $306,444, up 29.1% from $237,363 in February of 2012 and up 16.9% from $262,113 last month. February 2013 ASP was at a mid-range compared to February of 2012 and 2011.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 60, down -11.8% from 68 last month and down -26.8% from 82 in February of last year. February 2013 Inventory was at the lowest level compared to February of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2013 MSI of 6.7 months was at its lowest level compared with February of 2012 and 2011
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 96, up 37.1% from 70 days last month and up 123.3% from 43 days in February of last year. The February 2013 DOM was at its highest level compared with February of 2012 and 2011.
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 February 2013 Selling Price per Square Foot of $136 was down -2.2% from $139 last month and up 2.3% from $133 in February of last year.
Selling Price vs. Listing Price
The Selling Price vs. Listing Price reveals the average amount that Sellers are agreeing to come down from their 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 February 2013 Selling Price vs. List Price of 98.4% was up from 96.1% last month and up from 96.0% in February 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 February 2013 was 15, down -31.8% from 22 last month and down -48.3% from 29 in February of last year.