Prior 12 months property sales increased from 581 in 2014 to 604 in 2015. December 2014 property sales vs December 2015 property sales decreased from 51 to 44 homes sold. Prior 12 monthsaverage sales price increased 4.5%, from $477,396 in 2014 to $498,671 in 2015. The December Average Sales Price increased 1.2%, from $454,544 in December 2014 to $460,055 in December 2015. The December 2014 vs. December 2015 median price decreased 6.9%, from $382.000 to $355,625. The December Average Days on Market (DOM) increased from 98 in December 2014 to 120 in December 2015.
The December 2015 MSI of 5.25 months was at its lowest level compared with December of 2014. 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 December 2015 Selling Price vs. List Price of 92.8% increased .4% from 92.4% in December of last year.