Prior 12 months property sales increased from 564 in 2014 to 622 in 2015. July 2015 property sales vs July 2014 property sales increased from 49 to 59 homes sold. Prior 12 months average sales price increased 8.4%, from $456,736 in 2014 to $495,311 in 2015. The July Average Sales Price increased 8.2%, from $474,594 in July 2014 to $513,660 in July 2015. The July 2015 vs. July 2014 median price increased 7.9%, from $380,000 to $410,000. The July Average Days on Market (DOM) decreased from 79 in July 2014 to 78 in July 2015.
The July 2015 MSI of 4.37 months was at its lowest level compared with July 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 July 2015 Selling Price vs. List Price of 94.8% decreased .2% from 95% in July of last year.