By Art Wilson, Realtor
September Property sales were 31, down -13.9% from 36 in September of 2014 and -20.5% lower than the 39 sales last month. September 2015 sales were at their lowest level compared to September of 2014 and 2013. September YTD sales of 294 are running -4.9% behind last year's year-to-date sales of 309.
The Median Sales Price in September was $431,000, up 6.4% from $405,000 in September of 2014 and down -8.2% from $469,500 last month. The Average Sales Price in September was $497,015, down -1.2% from $503,294 in September of 2014 and down -18.6% from $610,768 last month. September 2015 ASP was at a mid range compared to September of 2014 and 2013.
The Total Inventory of Properties available for sale as of September was 226, down -5.0% from 238 last month and up 5.6% from 214 in September of last year. September 2015 Inventory was at highest level compared to September of 2014 and 2013.
The September 2015 Months Supply of Inventory of 7.3 months was at its highest level compared with September of 2014 and 2013. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.
The average Days On Market (DOM) is 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 44, down -38.9% from 72 days last month and up 10.0% from 40 days in September of last year. The September 2015 DOM was at its highest level compared with September of 2014 and 2013.
The Selling Price vs Listing Price is 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 September 2015 Selling Price vs List Price of 96.2% was up from 95.9% last month and up from 96.1% in September of last year.
The number of New Listings in September 2015 was 74, up 12.1% from 66 last month and up 23.3% from 60 in September of last year.
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