Prior 12 months property sales increased from 561 in 2014 to 600 in 2015. May 2015 property sales vs May 2014 property sales increased from 62 to 65 homes sold. Prior 12 months average sales price increased 8.8%, from $449,917 in 2014 to $489,715 in 2015. The May Average Sales Price increased 18.7%, from $451,875 in May 2014 to $536,066 in May 2015. The May 2015 vs. May 2014 median price increased 26.1%, from $355,000 to $447,500. The May Average Days on Market (DOM) increased from 72 in May 2014 to 136 in May 2015.
The May 2015 MSI of 5.97 months was at its highest level compared with May 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 May 2015 Selling Price vs. List Price of 95.0% decreased .1% from 95.1% in May of last year.