Prior 12 months property sales increased from 561 in 2013 to 568 in 2014. November 2014 property sales vs November 2013 property sales decreased from 39 to 32 homes sold. Prior 12 months average sales price increased 4.7%, from $454,664 in 2013 to $475,664 in 2014. The November Average Sales Price decreased 8.2%, from $520,156 in November 2013 to $477,565 in November 2014. The November 2014 vs. November 2013 median price decreased 19.3%, from $459,900 to $371,250. The November average Days on Market (DOM) increased from 73 in November 2013 to 117 in November 2014.
The November 2014 MSI of 6.26 months was at its lowest level compared with November of 2013. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.
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 November 2014 Selling Price vs. List Price of 90.8% decreased 2.4% from 93.0% in November of last year.